Europe

EUROPE - European equity investors should be looking at a five-year period before cashing in their holdings, according to Gartmore.

UK - Phillips & Drew has won an active £75m mandate from the £500m Imerys Pension & Life Assurance Scheme, the former English China Clays pension fund.

UK - Over the next 12 months, the UK economy will prove to be one of the most robust within the Organisation for Economic Co-operation and Development (OECD) countries and the UK stock market is likely to continue to attract interest, according to Stuart...

UK - SEI, a provider of integrated asset management services to institutional pension plans and intermediaries, has won a £55m global equities mandate from Davis Service Group Retirement Benefit Scheme.

UK - Mercury Asset Management (MAM) assumed that it would continue to get on average 1% outperformance across the house in 1996, the High Court heard yesterday.

UK - The Financial Services Authority (FSA) is considering taking action against Equitable Life, which it claims heavily overstated its financial position back in 1999.

UK - The £3.1bn Marks & Spencer (M&S) Pension Scheme is to shut down its final salary scheme in a move that is likely to see the retailer launching a contributory scheme.

UK - Total fund assets in the Isle of Man witnessed a near 20% growth over the year ending June 30, 2001, according to research by Fitzrovia International.

EUROPE - Deutsche Asset Management (DeAM) has poached Steen Jørgensen from Schroder Investment Management (SIM) as head of institutional sales for the Nordic region, based in Stockholm.

BELGIUM - Fortis' net operating profit for the first three quarters of 2001 amounted to EUR2.070m, a 4% increase over the corresponding period in 2000. Net profit, including non-operating items, advanced 19% to EUR2.505m