Europe

UK - Fund managers fail to take corporate governance seriously and conduct "mindless activism" simply to keep the government off their backs, Paul Myners claims.

UK - The £1.7bn UK Environment Agency Pension Fund has invested in a specially-designed "eco-enhanced" index fund run by State Street Global Advisors.

UK - The government has backed down over controversial plans to let senior councillors join the Local Government Pension Scheme.

UK - More than 40% of companies plan to review their executive defined benefit schemes due to rising costs, a new study shows.

UK - Standard Life Investments has posted a 32% increase in business during 2002, its fourth year of consecutive business growth.

UK - The Conservatives are urging the government to change the rules for pension schemes that wind up.

UK/JAPAN - Schroders has strengthened its global credit team with three new appointments, bringing the total number to 15.

UK/EUROPE - Mellon Financial Corporation has launched a UK operation for its global custody clients.

EUROPE/UK - Overly-generous occupational pension schemes are encouraging workers to take early retirement, the Organisation for Economic Cooperation and Development says.

UK - Schroder Investment Management has blamed plummeting equity markets for a steep fall in its funds under management.