AUSTRALIA - The Queensland Investment Corporation (QIC) has terminated its US equity mandate with Legg Mason, as it looks to further diversify alpha streams in its International Equities Fund.

UK - The Pensions Action Group will hold an all-night vigil outside Downing Street tomorrow to protest the government's bail-out of Northern Rock, while victims of pension scheme wind-ups are still waiting for compensation.

US - Eight of the largest pension funds, representing US$300bn in US public equities, have joined forces to speak out against a vote which could stop shareholders' ability to influence the membership of company boards.

GLOBAL - Hewitt Associates has launched Global Risk Services, an initiative aimed at helping scheme sponsors gain a better understanding of risk and potential reward.

THE INSURANCE buyout market for defined benefit pension schemes is struggling to take off, Aon Consulting warns.

Including: UK - Arch pushes East; FRANCE - Strikes continue; JAPAN - Credit Suisse moves into Japan; UK - NAPF welcomes deregulatory proposals; UK - Smurfit Kappa awards £20m mandate to Invesco

REGULATION of the private equity industry is needed to protect employees' jobs and pensions, unions warn.

UK - The pension fund buyout market is yet to fulfil its potential after an unimpressive third quarter, according to Aon Consulting.

UK - The Association of Consulting Actuaries (ACA) has called on the government to lift the ban on conditionally indexed pensions in order to slow the retreat from defined benefit (DB) schemes.

EUROPE - In order to cope with wide scale changes to the investment landscape, consultants Watson Wyatt and the Financial Times have launched a joint research project to help advise stakeholders.