Europe

BELGIUM - The weighted average return for Belgian pension funds was -12.11% in 2002, according to provisional financial results from the Belgian Association of Pension Funds (ABFP).

UK - Schemes are being urged to help fund public finance initiative (PFI) projects which can "offer near ideal long-term investments".

UK - The Rolls-Royce pension scheme has frozen its in-house additional voluntary contribution scheme in a bid to curb spiralling liabilities.

UK - Alexander Forbes' and Lane Clark & Peacock's joint venture company, Investment Solutions, has been given regulatory approval by the FSA to offer its services in the UK market.

UK - AstraZeneca has dropped plans to sue Merrill Lynch Investment Managers over poor investment performance for its pension fund.

SPAIN - Spanish insurance groups are putting the finishing touches to products that aim to take advantage of new income tax regulations.

UK - Innovest Strategic Value Advisors has appointed Andy White as director of research in its London office.

UK - Transport & General Workers Union has held crisis talks with aerospace engineer BAe Systems over the future of four of its seven final salary pension schemes.

UK - The 2003 Watson Wyatt lecture is to be given by risk management expert Professor Neil Doherty.

UK - Schemes are creating a "bubble" in the bond market similar to the one which inflated technology stocks in the late 1990s, Aberdeen Asset Management warns.