United Kingdom

UK - BA pensioners are threatening further legal action against the Airways Pension Scheme over its rules on surplus.

UK - Wolverhampton City Council is putting out tenders on behalf of two West Midlands pension funds.

UK - The £200m University of Manchester Superannuation Scheme (UMSS) has become the latest fund to review its investment structure in light of recommendations in the Myners' Report.

UK - State Street Corporation has hired Jessica La Trobe Hynes as vice-president of sales for its investment services business in the UK.

UK - Threadneedle Investments has appointed Stephen Moore to its US equity team as institutional portfolio manager.

UK - Threadneedle Investments has hired Chris White as head of its UK equity income team.

UK - Equity specialists AXA Rosenberg Investment Management have hired Gordon Strachan as a London-based portfolio manager.

UK/GLOBAL - Pension funds are missing out on gold's diversification benefits because they approach investment with a closed mind, the World Gold Council claims.

UK - Gartmore has completed a review of its UK equity portfolio construction process under Jon Thornton, head of UK equities.

UK - Just as the UK pensions industry is agreed that FRS17 is having a devastating effect, fears are growing that the full impact of the new accounting standard on the shortfall in British Airways' pension schemes may be even worse than initial figures...