Europe

UK - The £150m Provident Financial Staff Pension Scheme (Provident) is in the midst of a strategic investment review that could result in a decrease in its equity exposure and possible first foray into alternative investments.

UK - Chief secretary to the Treasury Andrew Smith is to succeed Alistair Darling as Secretary of State for Work and Pensions.

SCOTLAND - Britannic Asset Management (BAM) is searching for a head of UK equities.

UK - Law firm Hammond Suddards Edge is to conduct trustee training programmes throughout the year.

UK - The £931m Superannuation Arrangements of the University of London (SAUL) is looking to pump assets into a new property portfolio, according to a source close to events.

UK - Barclays Global Investors has now closed its UK Equity Market Neutral funds to new investors having raised £326m.

EUROPE - European private equity investment dropped by nearly one third last year despite strong inflows from pension funds, according to an annual survey from the European Private Equity and Venture Capital Association (EVCA).

UK/EUROPE - JP Morgan Investor Services EMEA (Europe, Middle East and Africa) has appointed Mariagrazia Polo as sales executive for Italy.

EUROPE - A new report has warned Europe's biggest companies to inject cash into their pension funds now or face a hefty bill once the international accounting standard (IAS) has been brought into line with UK equivalent FRS17.

UK - Philip Manduca has joined London-based Morley Fund Management as head of its new alternative investments division.