Europe

UK - Alexander Forbes (AF) has entered into an agreement with consulting actuaries Lane Clark & Peacock (LCP) under which it is planned that AF will acquire a 60% interest in LCP. The deal values LCP's business at £46m.

UK - The £1.26bn Aberdeen City Council Superannuation Fund is looking at conducting an asset allocation study later this year, which could result in mandates being put out to tender in 2003.

PORTUGAL - Portugal' s EUR3.8bn Instituto de Gestao de Fundos de Capitalizacao da Seguranca Social is to press ahead with a search for international fund managers for European equities and bond mandates worth a combined EUR600m.

UK - Dorset County Council Pension Fund has boosted its property portfolio with the purchase of two buildings in Manchester.

UK - Pharmaceuticals and chemicals company Akzo Nobel has dumped Schroder Investment Management from a £750m balanced mandate and increased its exposure to bonds, to be run by Henderson Global Investors. It has also appointed Capital International and...

UK - Fund manager Hermes is disappointed that a leak has made public its concerns over the corporate strategy of leisure giant Six Continents.

UK - The £335m London Borough of Brent Superannuation Fund is mulling over a move into private equity.

UK - Socially responsible investors Friends Ivory & Sime posted a £1.7bn loss in institutional fund under management last year, its biggest slump across all units.

UK - Pension funds are welcoming a High Court decision which means they will no longer pay for members' court appeals on disputes concerning scheme rules.

FINLAND - Finnish insurance giant Sampo has restructured its proprietary investment and asset management operations following the firm's deal with Mandatum Fund Management.