Europe

UK - The top five stocks on the FTSE All-Share are overvalued and have the potential to fall further, Invesco Perpetual warns.

UK - Delays in crediting dividends earned from shares can cost pension schemes substantial sums, software provider Euraplan claims.

UK - Law firm Pinsent Curtis Biddle is to hold a workshop on the pensions ombudsman in London.

UK - Lax rules were to blame for letting disastrously performing technology stocks gain a stock exchange listing, claims a leading fund manager.

UK/US - US independent bond manager Payden & Rygel Global has elected Robin Creswell as a managing principal and Mark Morris as a director based in London.

SCOTLAND - Former employees of the Scottish Transport Group have won an extra £8m of its pension fund surplus after a campaign by the Transport & General Workers' Union (TGWU).

UK - New figures reveal that pension funds have suffered at the hands of equity returns during the first half of 2002.

UK - A comprehensive guide to the UK's burgeoning defined contribution sector will be published in the August 29 issue of IPN's sister publication, Professional Pensions.

UK - Pension funds have invested £91m in Deutsche Property Asset Management's Property Ventures Fund No 2.

UK - Steel manufacturer Caparo faces weekly strike action after talks aimed at finding a compromise over the closure of its final salary scheme broke down.