Europe

UK - Growing compliance costs will force many financial services companies to close to new business, a survey by an outsourcing solutions company shows.

UK - The £20bn Universities Superannuation Fund has revealed its range of socially responsible investment activities.

UK - Trustees face legal action if they fail to sue companies which have given false sales figures in order to boost share values, lawyers warn.

UK - Newton Fund Managers has launched an active UK equity fund for occupational schemes.

UK - Consultants risk serious internal conflicts when they launch multi-manager product, senior industry figures warn.

UK - A behavioural study of decision-making processes could help asset managers improve their investment performance, a fund management consultant claims.

UK - Trustees of Maersk's UK final salary were due to hold an emergency meeting on Wednesday in a bid to resolve underfunding issues.

SCOTLAND - The Highland Council Pension Fund has is looking for managers to oversee mandates of up to £300m assets, following the decision by Rothschild Asset Management to review the future of its investment business.

UK - Watson Wyatt has appointed Richard Timmins as head of finance and business services.

UK - SEI claims it has become the UK's largest independent manager of managers after winning six new pension fund mandates this year.