Europe

EUROPE/UK - A high level source at a top international law firm has lashed out at the European Union for protecting a "hidden agenda" against the UK fund management industry.

UK - New Star Asset Management has closed its second institutional/high net worth offering, the Capital Guaranteed European Hedge Fund, at $130m.

UK - Pensioners from the £1bn Thorn Pension Fund have won the first round in the battle to get back part of the surplus they believe is owed to them.

UK - PSFM, the financial adviser unit of consulting actuaries Punter Southall & Co, has called on the Government to improve the quality of advice around annuity purchases.

UK - Occupational pension schemes are in need of around £100bn if they are to achieve the same level of financial security as the life assurance market, according to ratings agency, Standard & Poor's (S&P).

NORWAY - PIMCO Europe has bagged a mandate from the Oslo Pensjons Forsikring to establish and manage a US$220m global bond portfolio for the city's employee pension fund.

EUROPE/UK - A high level source at a top international law firm has lashed out at the European Union for protecting a "hidden agenda" against the UK fund management industry.

UK - Mercer Investment Consulting has launched a new web-based global custody database.

UK - Small to medium sized companies with DB schemes are more at risk of bankruptcy than larger companies it was claimed at JPMorgan Fleming's DC seminar.

UK - Insurers Friends Provident said that it was "well placed" in the pensions market amid the ream of final salary scheme closures.