Europe

UK - Britannic Group today dismissed as speculation talk that Dutch insurer Aegon is eyeing the firm as a possible buyer.

EUROPE - Dimensional Fund Advisors has appointed David Salisbury, the former chief executive of beleaguered fund manager Schroders, as its chief executive of its European operations.

UK - Interim changes to the Minimum Funding Requirement (MFR) now been finalised by the Government represent a reduction of 7.7% in equity-related MFR liabilities, according to consultants William M Mercer.

UK/ASIA PACIFIC - Northern Trust's multi-manager business in the UK has appointed Singapore-based APS Asset Management (APS) to manage the Pacific Basin ex-Japan segment of the Northern Trust Multi-Manager Pooled Funds (NTMF) Pacific Basin section.

UK - Pensions researchers say the Government must abandon its strategy of pushing private pension schemes to replace State provision.

UK - Downtrodden telecoms company Marconi is to cling on to its final salary scheme as it looks to rectify a £137m shortfall in its pension fund.

UK - For the forthcoming 2002 proxy season, PIRC is launching a new enhancement to its corporate governance service by providing a rating of new directors' share incentive schemes and proposals to approve remuneration reports.

UK - Shadow social security minister David Willetts has written to his counterpart in Government to express his serious concern at the reliability of pension fund figures endorsed by social security minister Alistair Darling.

NORWAY - The EUR80bn Statens Petroleumsfond has posted its first ever negative return, of -2.5% in 2001, a result it blames on weak equities markets in the third quarter.

UK - The £2.7bn J. Sainsbury pension fund is to offer an open market annuity option to its members.