Europe

UK/EUROPE - Scottish Widows International is launching an offshore US dollar with-profits fund and Euro with-profits fund via its international investment bond from January 18.

UK - Phillips & Drew was the best performing asset manager in 2001, producing a -7.2% return in a year which saw the value of UK pension funds fall by 11.3%, according to HSBC Actuaries & Consultants.

UK - A compromise deal put forward by beleaguered insurer Equitable Life looks likely to go ahead - thanks to pension funds.

BELGIUM - Belgian telecommunications operator Belgacom is close to completing its search for managers to run a total of EUR340m in mandates.

UK - Pressure has grown on the government to reform annuity law after a private member's Bill passed a second reading in the House of Commons.

UK - Actuaries continue to be taught palpable untruths and have been battered by accountants, a new survey of actuarial assumptions reveals.

UK/EUROPE - Scottish Widows International is launching an offshore US dollar with-profits fund and Euro with-profits fund via its international investment bond from January 18.

SPAIN - Employment and social policy ministers from European Union (EU) member states will meet today for a two day conference, with the future viability of European pensions systems and full employment top of the agenda.

UK - Beleaguered asset manager Schroder Investment Management has discovered that it had overstated its profits for the year 2000 by approximately £11m, after discovering errors in the preparation of its accounts.

UK - Merrill Lynch Investment Managers (MLIM) has poached Abbey National's Louise Parker for its credit research team.