Europe

UK - The measurement of many shares held by pension funds may be undervalued, says PricewaterhouseCoopers.

UK - The Caparo Group has wound up one of its pension schemes and frozen the other over fears of future liabilities.

UK - William M Mercer has made a series of new leadership appointments in the areas of administration and retirement.

UK - Defined benefit pension schemes that have contracted-out may be forced to switch to defined contribution because rebates are too low, new research reveals.

UK - Actuaries and consultants Barnett Waddingham are disappointed by the consultative document issued by the Inland Revenue and the Department for Work and Pensions in February.

UK - The pay gap between directors and their employees has continued to rise despite opposition from the public, according to a TUC report, 'Executive excess - time to act', published today.

EUROPE - The ‘euro changeover' effect seems to have had a noticeable impact only on motor vehicle sales, according to CDC IXIS's latest market analysis.

UK - Now that the traditionally heavy February/March reporting season is over and, generally, companies fulfilled what were low expectations after last year's slowdown, Schroders says there are now some grounds to be more optimistic.

SPAIN - Gartmore is entering the Spanish market, and has recruited Victoria Huerta to head up its first office, which will be based in Madrid.

UK - Watson Wyatt, which advises 49 of the 100 largest corporate pension schemes in the UK, estimates that about 50% of FTSE-100 companies reporting as at December 31, 2001 will be showing an FRS17 deficit for their UK pension scheme.