Europe

UK - AXA Rosenberg Investment Management has lured another recruit, Stephen Millar, from rivals Schroder as its new head of UK sales.

UK - The £1.45bn Cheshire County Council Superannuation Fund is tendering a £75m global private equity mandate.

UK - Morley Fund Management has added banking giant Barclays' headquarters to its property portfolio.

UK - The TUC (Trades Union Congress) will back a vote against excessive pay at the annual general meeting of telecoms giant Vodafone today, despite reports that the company's remuneration policy is likely to sail through.

UK - Scottish Mutual has launched a fund of hedge funds for SSASs and SIPPs.

UK - The £127m University of Liverpool Pension Fund is reviewing its actuarial and consultancy services, and is may take a second look at its investments arrangement later this year.

SCOTLAND - The Inland Revenue is facing a union challenge over its plans to tax a pension surplus awarded to deferred members of the Scottish Transport Group.

UK/EUROPE - Laura Ahto has joined fixed income specialists PIMCO senior vice president and head of operations and administration to oversee the firm's London expansion.

UK - Companies should not be required to provide pensions and should only have to recommend a safe savings environment, according to the Adam Smith Institute, a right-wing think-tank.

BENELUX/FRANCE/GERMANY/ITALY - Nearly one quarter of institutional investors are dissatisfied with the performance of their asset managers, according to the latest European Institutional Asset Management Survey (EIAMS) by Invesco.