Europe

BRAZIL/UK - Fund managers are losing confidence in Latin American's stocks amid concerns a socialist candidate in Brazil's presidential election will gain power.

UK - Towers Perrin is to stop carrying out actuarial business at its second largest office, it has been revealed.

UK - Insurance giant Prudential is to close its £4.8bn final salary pension scheme to new members early next year.

US/UK - Merrill Lynch has launched a new high yield issuer constrained index series.

UK - The £1bn Royal Insurance Group Pension Scheme has put all its assets up for tender.

UK - Commercial property returns will be higher than both UK gilts and equities over the next two years, property firm Cluttons predicts.

UK - Unions will price people out of jobs if they make pension contributions a key part of pay negotiations, a leading fund manager warns.

UK - Beleaguered insurer Equitable Life is planning another compromise scheme for guaranteed annuity rights' members to stave off further legal action.

UK/EUROPE - Pan-European pensions moved one step closer yesterday as the European Court of Justice found in favour of Rolf Dieter Danner.

UK - Widespread weaknesses in the management of defined contribution (DC) schemes could leave firms open to legal disputes, Mercer Human Resource Consulting warns.