United Kingdom

UK - AXA Investment Managers is transferring £3.5bn of global and European equity mandates from its UK clients to its sister firm, Axa Rosenberg.

WALES - The Bank of New York and JP Morgan Investor Services have been dropped from providing custody services to the Torfaen County Borough Council Pension Fund.

UK/EUROPE - JP Morgan Fleming Asset Management has finalised the new structure of its European equities Team.

UK - Hermes Property Asset Management, part of the BT pension scheme, has bought MEPC's 50% stake in a shopping centre portfolio for £115m.

UK - Pension schemes adopting a passive approach to corporate bond investment could be exposing themselves to more risk.

UK - The Journal of Pension Economics and Finance will host a workshop on ‘The Future of Annuities' on November 11 at the British Academy, London.

UK - SCOTLAND - The £2bn Lothian Pension Fund is to drop Friends, Ivory & Sime from a UK equities mandate but will retain the fund manager for its reo SRI overlay strategy.

UK - Gartmore Investment Management has appointed Shamus Young as head of its global consulting group, based in London.

UK - Sacker & Partners is the latest law firm to join ius laboris, the international alliance of independent law firms.

UK - Assets at the Falcon Property Trust, the fund managed by CB Hillier Parker Investors, have passed the £100m mark.