Europe

UK - A new tax on the property industry introduced this week will have a "serious impact" on schemes, Credit Suisse Asset Management warns.

UK - Prudential has become the latest defined contribution provider to offer scheme members access to multi-manager funds.

UK - Watson Wyatt is celebrating its 125th anniversary.The firm was established in 1878 with Reuben Watson's "pioneering" actuarial work and has grown to become a global consulting specialist.

UK - The Financial Services Authority has fined an IFA £250,000 for "serious inadequacies" in its monitoring and record keeping procedures.

UK- Mercer has been appointed to provide actuarial and investment consulting services for the pension arrangements of Linde Material Handling.

EUROPE - Socially responsible European smaller companies have outperformed their non-compliant counterparts since a new index monitoring SRI returns was launched.

UK - Nearly half of working-age adults do not have any pension arrangements, research by Mintel International shows.

UK - Troubled engineering group Invensys is to sell off subsidiary businesses to help plug its £415m FRS17 pension deficit.

UK - Singer & Friedlander Investment Management has appointed Peter Bodycombe as assistant director and UK equities fund manager.

UK - Legal & General's decision to increase the minimum fund value for individual annuities from £1000 to £5000 has sent shockwaves through the consulting industry.