Europe

EUROPE - The value of funds raised by European private equity funds fell by almost 30% in 2002 blighted by dismal markets with nearly half falling short of targets.

UK - Britannic Group has warned it may defer annual bonuses to with-profit policyholders in a bid to maintain its financial strength.

UK - Industrial giant Lonrho Africa has been denied access to a subsidiary's pension scheme surplus after the High Court ruled trustees had sole power to increase benefits.

EUROPE - VKG, the 18,000-member pension fund for doctors, dentists and pharmacists, decided in April to change its strategic asset allocation away from equities, in a move to protect itself from declining equity markets.

UK - Merrill Lynch Property Fund has sold its largest asset, the Strand Island office block in Central London, for £66m to clients of Baring, Houston & Saunders.

UK - Frank Russell Company has chosen Threadneedle Investments to run £100m of UK equities for its multi-manager product.

EUROPE - ITG Europe, the technology-based equity trading services group, has hired Mark Freeman to head its hedge fund division.

UK - Towers Perrin is to hold trustee training courses in central London on March 20, June 19 and October 23.

UK - Integrated Asset Management, listed on the Alternative Investment Market of the London Stock Exchange, has published a prospectus in relation to the offer for subscription of its new class of variable rate convertible unsecured loan notes, linking...

UK - Pensions are the lowest priority for UK workers, research from Hewitt Bacon & Woodrow shows.