Europe

EUROPE - AXA Investment Managers is set to transfer its fund adminstration and investment operations in the UK, France and Germany worth e200bn to State Street Corporation.

UK - Bank of Ireland Asset Management, the UK arm of Bank of Ireland Asset Management, said that assets under management for local authority and government pension funds have risen to more than £1bn.

UK - Selina Cheung (pictured) has become consultant at pensions and IT consultancy firm Dunnett Shaw.

UK - Parts of the Pensions Bill may be delayed by a year to bring it in line with the new date for tax simplification, experts fear.

UK - Several pension funds are considering legal action over current and historic advice given by their actuarial consultants.

UK - Shareholders of web-based travel and leisure group lastminute.com voted overwhelmingly in favour of an executive bonus scheme dubbed "excessive" by critics.

UK - Vague and inaccurate data cast doubt over the National Audit Office's calculations that the £1.4m savings cap will affect 10,000 people, consultants claim.

UK - Allianz Dresdner Asset Management is launching a balanced fund that aims to deliver absolute returns for schemes.

UK - Opposition MPs have attacked the government for "rigging" the criteria used for the National Audit Office's analysis of the savings cap.

UK - Watson Wyatt has launched a flexible benefits administration selection service to help employers with their selection of flex delivery systems.