Europe

UK - London Borough of Hackney Superannuation Fund has received clearance to appoint an investment consultant to search for new managers, probably to run bonds, following a review of asset allocation due to finish in June.

EUROPE - The European Commission reiterated its plea to member states to meet the deadline for its Financial Services Action Plan, prior to the Barcelona European Council which groups today.

UK - Pension funds cannot expect auditors to blow the whistle on failing or corrupt companies, a leading corporate governance expert claims.

UK - Retail giant John Lewis is to review its pension arrangements. But the partnership insists there is no intention to close its final salary scheme.

UK / EUROPE - HSBC Asset Management has promoted Dean Buckley to European chief executive officer (CIO), replacing Andrew Ross who left the firm to head up Cazenove's fund management business.

UK - Schroder's chief economist Keith Wade has predicted that the movement towards higher bond allocations will leave the State with a massive bill, in order to make up shortfalls caused by lower returns from fixed income investment.

EUROPE - Private equity investments in Europe posted a negative 2.3% internal rate of return (IRR) during 2001, according to preliminary data from the European Private Equity and Venture Capital Association (EVCA).

UK - Merrill Lynch Investment Managers' hopes that other pension schemes will not take legal action following its settlement with Unilever have been dashed.

UK - Mercer has been told to examine every option in the £600m George Wimpey Staff Pension Scheme's investment review this autumn.

UK/EUROPE/US: Hedge fund of funds manager Arden Asset Management made further steps towards opening its London office, targeting European managers to its roster.