Europe

UK - Insurer Friends Provident was buoyed by strong new business figures for 2H, 2001 following its demutualisation last year.

EUROPE - On February 1, 2002 Crédit Lyonnais Asset Management will introduce two new exchange traded funds (ETFs) under the brand name SPDR Europe.

UK - A leading Deutsche Bank analyst has advised companies most at risk from the impact of FRS17 to close their defined benefit schemes as a "remedial measure".

UK - Accountancy giant Ernst & Young is closing its defined benefit scheme because of worries over the new accounting standard, FRS17, and the increasing longevity of retirees.

UK - The £740m Lincolnshire County Council Pension Fund has closed a tendering process for a new £20m private equity mandate.

UK - Wilton Asset Management, a joint venture between State Street Global Advisors (SSgA) and DuPont Capital Management Corporation, closed its Wilton Private Equity Fund with over $240m in commitments, including sums from UK pension funds.

UK - Deutsche Asset Management (DeAM) has published its views on the reform of occupational pensions in the UK, in response to the government's Myners Review.

UK - Scottish Life has posted annual premium equivalent figures of £170m - bolstered by pensions sales which accounted for almost 80% of all new business in 2001.

UK - Baillie Gifford has won a UK equity brief worth approximately £330m with the £3.5bn London Regional Transport Pension Fund.

UK - Hedge fund investment has soared to record levels following two successive years of negative equity returns, LJH Global Investments reports.