Europe

UK - The government has rejected calls to abolish the compulsory purchase of annuities because pensioners are "poor judges" of their spending.

UK - Uncertainty over the outcome of the US presidential election could be behind poor US equity performance in recent weeks, according to Schroders Investment Management Limited.

UK - Achim Gloger has joined the institutional fixed income team at Fidelity Investments as business development director for pan-Europe.

UK - Merrill Lynch Investment Managers has launched its first pooled focus fund, which is specifically aimed at pension funds and charities.

UK - Ministers are allowing solvent companies to wind up their schemes in deficit to prevent further calls on its Financial Assistance Scheme.

UK - The Pension Protection Fund faces ‘systemic failure' if it invests significantly in equities, the National Association of Pension Funds warns.

UK - Aon Consulting has entered into an agreement worth more than £10m with specialist pension administration software provider aquila.

NORWAY - Norges Bank will purchase foreign exchange equivalent to NOK640m per day for the NOK942.4bn (e114bn) Government petroleum fund in November.

UK - Plugging the pension shortfall for more than 300 UK workers would be like ‘throwing money down the drain', German printing firm Felix Schoeller claims.

BELGIUM - VKG, the e500m Belgian pension fund for doctors, dentists and pharmacists, is making a foray into hedge funds and is set to appoint one to two investment managers before the end of the year.