Europe

UK - Man Group has completed its $1.6bn purchase of GLG Partners, creating a diversified fund group running $63bn of assets.

UK - The Treasury confirmed the annual allowance will be cut from £255,000 to £50,000 and the lifetime allowance reduced from £1.8m to £1.5m.

UK - Insurers will be forced to increase buyout prices in the medium term unless CPI-linked instruments are issued in the coming months, Punter Southall says.

Europe - Jean-Pierre Steiner has stepped down from his role as chief executive of Nestlé Capital Advisers.

UK - The aggregate funding position of the 6,653 schemes in the Pension Protection Fund's 7800 index improved to a deficit of £20.4bn ($32bn) at the end of September.

EUROPE - The European Parliament and Council Presidency have been unable to agree on the final text of the Alternative Investment Fund Managers (AIFM) directive.

EUROPE - The European Court of Justice may equalise annuity rates for men and women, but doing so could make women's pension income even worse, experts warn.

UK/US - UK pension funds will recoup £1.4bn ($2.2bn)in US class action lawsuits following losses suffered at the peak of the financial crisis, a report reveals.

UK - Investment bank J.P. Morgan has started quoting prices for Consumer Prices Index swaps after the government announced it would change the indexation basis for pension increases from RPI to CPI this summer.

UK - The new Aon Hewitt has named Yvan Legris, former president of global consulting at Hewitt Associates, as chief executive of UK, Europe, Middle East and Africa.