United Kingdom

UK - Uncertainty created by more volatile pension accounting figures is set to turn many more companies away from final salary provision, according to a new study.

UK - Legal action by the Railtrack Shareholders' Action Group moved a step closer when the government failed to meet a deadline for the release of key documents.

UK - Shareholders will be able to veto unmerited salary rises for directors under new regulations which are due to become law by the end of the year.

UK - Goldman Sachs Asset Management has launched five new pooled funds for medium and small sized pension funds, with a minimum investment level of £5m (EUR8.1m)

UK - Schroders has completed the first closing of its private equity fund of funds at £172m, a sum it believes puts it on course to raise £300m by the second quarter.

UK - Brown Brothers Harriman (BBH), the oldest privately owned US bank and fund manager, has appointed David Bilbe as its new managing director of investor services in London.

UK - Consultants William M Mercer has been appointed to administer services to British Vita's two principal group pension schemes.

UK - Rob Hain is to replace Hugh Ward as chief executive officer of fund manager Invesco UK.

UK - The £1.7bn Hampshire County Council Pension Fund has appointed SG Asset Management to a £400m global active balanced brief, replacing Morley Fund Management.

UK - A new report insists that the UK commercial property market is in the midst of a resurgence despite conflicting research which shows that investment could be heading for a downturn.