United Kingdom

SCOTLAND - The £651m Fife Council Superannuation Fund may become the latest regional fund to adopt a specialist investment approach, aimed for 2003.

UK - Deutsche Property Asset Management has launched a property fund which aims to outperform the IPD monthly index by 3% per annum.

UK - Schroders Investment Management has boosted its global credit research team with the appointment of Anders Persson and Suzanne Ferlic.

UK - AXA Rosenberg Investment Management has lured another recruit, Stephen Millar, from rivals Schroder as its new head of UK sales.

UK - The £1.45bn Cheshire County Council Superannuation Fund is tendering a £75m global private equity mandate.

UK - Morley Fund Management has added banking giant Barclays' headquarters to its property portfolio.

UK - The TUC (Trades Union Congress) will back a vote against excessive pay at the annual general meeting of telecoms giant Vodafone today, despite reports that the company's remuneration policy is likely to sail through.

UK - Scottish Mutual has launched a fund of hedge funds for SSASs and SIPPs.

UK - The £127m University of Liverpool Pension Fund is reviewing its actuarial and consultancy services, and is may take a second look at its investments arrangement later this year.

SCOTLAND - The Inland Revenue is facing a union challenge over its plans to tax a pension surplus awarded to deferred members of the Scottish Transport Group.