Europe

UK/EUROPE - WestAM has launched the WestAM Navigator multi-strategy fund - its second hedge fund.

UK - Companies which close defined benefit schemes to new members could see contribution levels soar to 100%, an actuarial consultant warns.

EUROPE - Axa Rosenberg Investment Management, the specialist equity manager, has been appointed by two new pension fund clients in Continental Europe.

UK - Shopworkers' union Usdaw wants talks with distribution company Wincanton following the closure of its final salary scheme.

UK - The broker research service website Researchsummary.com has updated its service and added two new brokers to its research offering.

UK - Henderson Global Investors has appointed Arno Kitts as director of UK institutional marketing.

UK - Investment companies are set to see balance sheets punctured once more this year as they contend with spiralling costs, falling revenues and a changing investment landscape.

UK - Third-party pension scheme administrator HS Administrative Services has appointed Dick Nunn as head of business development.

UK - Trade unions are divided over what action to take against pension schemes which invest in the arms trade.

UK - Aberdeen Asset Management will not be able to sell its way out of its cash problems, a leading consultant claims.