Europe

ICELAND - The pension fund for state employees (LSR), the largest pension fund in Iceland, has made its first foray into private equity and is now weighing investments in hedge funds and foreign bonds.

UK - Asset managers will cease offering funds directly to defined contribution schemes and put them on other providers' platforms instead, Aon Consulting predicts.

UK - Corporate governance experts have accused top firms of only paying lip service to the Higgs combined code on the transparency of directors' pay packages.

UK - A guide on defined contribution scheme transfers for financial advisers and employers has been published by Friends Provident.

UK - A radical rethink in pensions provision is needed to provide young people with incentives to save, a leading think-tank claims.

UK - Merrill Lynch Investment Managers is launching a property fund of funds for schemes seeking diversified exposure to the UK commercial property market.

UK - The £1.3bn Leicestershire County Council Pension Fund has appointed Standard Life Investments to manage a £150m segregated specialist UK equity portfolio.

UK - "No gain, no fee" manager Bedlam Asset Management has unveiled a £1m rights issue to fund its expansion plans.

UK - Multi-manager Investment Solutions has been appointed by ribbon and narrow fabric manufacturer Selectus to manage the company's closed defined benefit pension scheme.

EUROPE - The European Federation for Retirement Provision (EFRP) today said that it has sought membership of the newly established EFRAG Advisory Forum.