United Kingdom

SCOTLAND - The £480m Inverness-based Highland Council Pension Fund has become the latest regional scheme to take the master custodian route with the appointment of Northern Trust (Northern).

UK - Pensions minister Ian McCartney is set to formally launch the Trustee Code of Practice today.

WALES - The £736m Torfaen County Borough Council (Greater Gwent) Pension Fund is likely to start a search for specialist managers by August for briefs totalling around £515m.

UK - The £1.3bn UK pension fund for Canadian telecoms giant Nortel has finally replaced Jupiter Asset Management with Fidelity Investments.

UK/EUROPE - Threadneedle Asset Management, part of Zurich Financial Services, has acquired a near 30% stake in multi-manager Attica Asset Management (Attica).

UK - Actuaries want insurance companies to establish independent actuarial committees to ensure company boards fully understand advice they receive.

UK - Britannic Asset Management has appointed James Goodgame to its fixed interest team reporting to David Roberts, head of credit.

UK - Latest FRS17 figures show three FTSE100 companies with pension deficits, while only one - Morrison Supermarkets - has a surplus.

UK - Barclays Global Investors has seen assets under management leap £25bn during the first quarter of this year.

UK - Britannic Asset Management's chief investment officer Peter Reid is to step down from his role as head of UK equities.