Europe

NORWAY - Norway's NOK682bn (e86.4bn/US$101bn) Government Petroleum Fund is seeking managers for a new batch of active US equity mandates.

UK - John Reizenstein has been appointed chief financial officer and executive director by Co-operative Financial Services, subject to regulatory approval.

US/UK - Standish Mellon Asset Management has been selected to directly manage $2bn in fixed income insurance assets for Aviva Life Insurance, part of Aviva of the UK.

UK - Companies are amending trust deeds in a bid to get around "draconian" wind-up rules, lawyers claim.

UK - A "much wider suite" of investment products for long-term saving is needed, Sainsbury's Bank claims. I

UK - The £534m Somerset County Council Pension Fund is set to increase its weighting in equities from 70% to 80% in a bid to "minimise costs" over the long-term.

EUROPE - There is limited justification for capital requirements on investment fund management, according to a study published by the Fédération Européenne des Fonds et Sociétés d'Investissement (FEFSI).

UK - Moving away from UK stocks and adopting a globally diversified portfolio can reduce pension scheme investment risk, a senior fund manager claims.

FRANCE - France is facing more nationwide industrial action today as the battle over pension reform escalates.

UK - Trust disclosure laws are "up in the air" and need urgent clarification, the Association of Pensions Lawyers claims.