Europe

EUROPE/ASIA - AXA Investment Managers has gone overweight in Asian, Japanese and Euroland stocks in anticipation of economic recovery later this year.

UK - Trade unions will "not stand back" and allow the pensions crisis to deepen, TUC president Tony Young warns.

UK/IRELAND - Fund managers saw profits slide by almost a third last year despite a tightening on costs, according to the latest PricewaterhouseCoopers (PwC) investment management survey.

UK - The pensions industry needs simplified and stable rules to restore people's confidence, according to Simplification Review chief Alan Pickering.

GREECE - Software solutions provider AFA Systems has been hired by Greece's Piraeus Asset Management Company (PAMCO) to implement AFA AIMS, a front and back office asset management system.

UK - ING Real Estate-owned Baring, Houston & Saunders (BH&S) has sold SP33, Shire Park, Welwyn Garden City to US company Schering-Plough.

UK - Pensions Management Institute members have elected three new members to the PMI Council.

UK - Schemes are being urged to look at high yield bonds rather than equities if they want higher returns.

UK/SWEDEN - Multi-manager Skandia is targeting UK pension funds with its Skandia Balanced Portfolio.

UK - GHK Asset Management has opened a £30m hedge fund which will invest in US and UK equities.