United Kingdom

UK - Institutional investors - holding many billions in pension fund investments - are planning to sell off large amounts of equity because of fears of further world market slumps.

UK - Gartmore chairman Paul Myners has slammed pension schemes with "excessively" diversified funds for not being active enough as shareholders.

UK - The Chancellor of the Exchequer, Gordon Brown, yesterday confirmed in his pre-Budget speech that the Pensions Credit will be introduced from 2003, at a cost of £2bn in the first full year, and said it "will provide a fair deal for pensioners, tackling...

UK - The implications of the one-year delay to the revised Basel Capital Accord for the implementation of integrated prudential supervision for UK financial firms were set out for consultation by the Financial Services Authority yesterday.

UK - Edinburgh Fund Managers (EFM) has cut 22 jobs from its investment and administration teams.

UK - Phillips & Drew has won an active £75m mandate from the £500m Imerys Pension & Life Assurance Scheme, the former English China Clays pension fund.

UK - Over the next 12 months, the UK economy will prove to be one of the most robust within the Organisation for Economic Co-operation and Development (OECD) countries and the UK stock market is likely to continue to attract interest, according to Stuart...

UK - SEI, a provider of integrated asset management services to institutional pension plans and intermediaries, has won a £55m global equities mandate from Davis Service Group Retirement Benefit Scheme.

UK - Mercury Asset Management (MAM) assumed that it would continue to get on average 1% outperformance across the house in 1996, the High Court heard yesterday.

UK - The Financial Services Authority (FSA) is considering taking action against Equitable Life, which it claims heavily overstated its financial position back in 1999.