Europe

UK - Watson Wyatt has hit back at accusations that its use of traditional valuation methods is damaging the credibility of the actuarial profession.

UK - Financial services giant Barclays has seen its UK-based scheme's £414m FRS17 surplus wiped out by falling markets - and it is now £1.3bn in deficit.

UK - Increasing property allocations will cut schemes' risk profiles and put them in a better position to ride out the economic downturn, LaSalle Investment Management claims.

UK - CB Hillier Parker Investors has promoted Josh Dale-Harris to senior director.

UK - The government is to fast-track reform of TUPE rules which govern employment rights during job transfers.

UK - Small and dissimilar funds are skewing the CAPS tables, Scottish Widows Investment Partnership claims.

SWITZERLAND/LUXEMBOURG - UBS Global Asset Management has been named Europe's top fund manager at the European Fund Awards 2003

UK - Northern Trust claims it is now the third biggest index manager in the world following its acquisition of Deutsche Bank's passive business.

UK - The Pensions Protection Investments Accreditation Board - the body that assesses standards in the long-term savings industry - has launched a new website.

UK - The trend toward closing DB schemes in favour of DC shows no sign of abating in 2003, the Chartered Institute of Personnel and Development predicts.