Europe

BELGIUM - Belgian pension fund returns lifted by nearly 4% during the first six months of 2003, posting the highest first half returns since 2000.

UK - International Accounting Standards Board moves to improve accounting transparency will leave insurers facing increasingly volatile balance sheets, the Association of British Insurers warns.

UK - International Financial Data Services (IFDS), a joint venture between State Street Corporation and DST, has hired Daniel Carpenter as head of sales for the UK.

UK - Clerical Medical is launching a bulk buyout plan for firms shutting their occupational schemes in favour of contract-based products.

UK - British Airways' pension schemes will trigger a cautious shift of assets back into equities, consultants believe.

UK/EUROPE - The International Association of Investment Management Sales Executives has appointed GR Communications as its administrator.

UK - Northern Trust has enhanced its trade services capability for global institutional investment managers.

UK - Beachcroft Wansboroughs Consulting has appointed Ian Reynolds, formerly general manager of Commercial Union Life, as a senior consultant.

UK/EUROPE - Russell/Mellon CAPS has appointed David Harris to the role of head of client relations.

UK - Pensions advisory service OPAS is still overwhelmed with casework despite a 5% increase in the number of advisers.