Europe

BELGIUM - Karel Stroobants has been re-elected president of the Belgian Association of Pension Funds.

EUROPE - Chairman of the European Federation of Retirement Provision Alan Pickering (EFRP) has congratulated the European Commission (EC) on finally breaking the deadlock over crossborder pensions following this week's agreement for a new law.

UK/GLOBAL - Pension funds are missing out on gold's diversification benefits because they approach investment with a closed mind, the World Gold Council claims.

UK - Gartmore has completed a review of its UK equity portfolio construction process under Jon Thornton, head of UK equities.

UK - Just as the UK pensions industry is agreed that FRS17 is having a devastating effect, fears are growing that the full impact of the new accounting standard on the shortfall in British Airways' pension schemes may be even worse than initial figures...

UK - The Leeds & Holbeck Staff Pension Scheme has dumped Schroder Investment Management in favour of London-based Chiswell Associates to manage its £25m scheme.

UK - Pension schemes could have their tax-approved status removed if they fail to adhere to money transfer rules.

UK - Trustees may have to justify all their actions to members following a controversial determination by the pensions ombudsman, say legal experts.

UK - Fund managers have attacked former British Telecom chairman Sir Iain Vallance after he claimed they knew even less about running a company than non-executive directors.

UK - An upsurge in shareholder activism is a direct result of the Myners' review, proxy voting agency Manifest claims.