Europe

CHINA/EUROPE - Foreign players grappling for a share of China's emerging fund management market are unlikely to see profits until 2011 at the earliest because of the substantial costs involved, according to research and consulting firm Cerulli Associates....

UK - State Street Global Advisors (SSgA) has strengthened its enhanced equities capability with the appointment of Simon Roe as senior investment manager.

EUROPE/US - US value managers Boston Partners Asset Management is to offer its products to institutional investors outside the US in the near future, following a deal with Rotterdam-headquartered Robeco.

UK - Council workers will see their pensions plummet if defined benefit is replaced by a career average scheme, trade union Unison warns.

UK - The GMB union is to pursue sex and race discrimination claims against Islington council after it removed dinner ladies from the Local Government Pension Scheme.

UK/EUROPE - Deutsche Asset Management has made former Rothschild Asset Management chief executive Paul Manduca head of its European operations.

UK - HSBC Asset Management has taken another blow following the defection of two senior figures to Neptune Investment Management.

UK - The Employers' Organisation for Local Government and Barclays Global Investors are offering a series of investment seminars to help councillors responsible for the Local Government Pension Scheme.

UK/JAPAN - Neptune Investment Management is expanding its investment team and has appointed William May as head of Japanese equities, and Rob Burnett as investment analyst.  

UK - Rolls Royce Pension Fund could face legal action by a group of pensioners who claim the scheme has stopped virtually all communication with them.