Europe

UK - Aberdeen Asset Management looks set to win the race to take over Edinburgh Fund managers in a deal worth approximately £30m, industry sources claim.

UK - Arms expert David Kelly's widow has told the Hutton inquiry about worries over the security of his pension.

UK - The Government Actuary's Department is bidding for local authority actuarial mandates following Watson Wyatt's decision to quit the sector.

UK - Changing structures of equity ownership - with more shares being held by institutions - leads to greater market volatility, research by Standard Life Investments shows.

UK - ING Real Estate Investment Management is launching a "revolutionary" property fund-of-funds product which is aimed specifically at small schemes.

UK - Morley Fund Management has strengthened its pan- european equities team with two new hires. David Shapiro and Daniel Roberts have joined as value fund managers specialising in UK equities.

UK - The National Association of Pension Funds is holding the first meeting of its newly-created DC forum today.

UK - The Finance Act 2003 will reduce the tax burden on firms that have set up unapproved group life assurance schemes, CMS Cameron McKenna claims.

UK - Government proposals to increase demand for simple financial products cannot succeed without provision for advice, a survey shows.

UK - F&C Management has appointed Michael Wrobel as director and head of UK retail business development.