United Kingdom

UK - A High Court ruling that a pension scheme can only calculate its shortfall once could penalise active members, consultants warn.

UK/NORTH EUROPE - Pictet Asset Management has appointed Jonathan Hayes as head of UK and Northern Europe business development.

UK - Man Investment Products is to launch its first sterling denominated fund tailored for UK institutional and private investors.

SCOTLAND - Edinburgh-based independent investment manager Martin Currie is to launch its third hedge fund on July 15.

UK - Workers at steel giant Caparo are threatening to strike after the firm closed its final salary scheme and replaced it with stakeholder.

UK - Major UK pensions bodies, including the Pensions Management Institute (PMI), took their first steps this week to establish an industry standard for pension fund administration.

UK - Average salaries for pension scheme managers have soared to consultant levels as firms chase high-quality staff, a recruitment agency survey shows.

UK - Pension schemes are claiming victory in their battle to get the full implementation of accounting standard FRS17 delayed.

UK - Statistics showing annual pension savings at £86bn may have been overstated by as much as £30bn, the government has admitted.

UK - SEI Investments has joined the chorus of industry players to welcome the temporary reprieve over controversial accounting standard FRS17.