United Kingdom

UK - Unilever barrister Jonathan Sumption QC yesterday attempted in the High Court to prove that one of the key points of Merrill Lynch Investment Managers' (MLIM) defence was flawed.

UK - The switch to total bond investment by the near £2.3bn Boots Pension Scheme is unlikely to cause a "stampede" in the same direction by other funds, according to the National Association of Pension Funds.

UK - JP Morgan Investor Services has been reappointed as global custodian to the £6.8bn ICI Pension Fund.

UK - The £1.1bn Devon County Council Pension Fund is to invest in a new European Fund from Hermes.

UK - Market liquidity created by interest rate cuts has been the chief driver of the equity rebound, according to Tony Broccardo, chief investment officer of Invesco UK's institutional arm.

UK - A pension fund managed by former Mercury Asset Management "wild card" fund manager Alistair Lennard may take court action if Unilever wins its High Court battle.

UK - Gartmore chairman Paul Myners is urging the pensions industry to step up pressure on the government to abolish stamp duty.

UK - Switching from equities to bonds has given the Boots pension scheme a £300m surplus, a new report shows.

UK - Only 19% of the UK's top companies meet investors' highest corporate governance expectations, according to the National Association of Pension Funds (NAPF).

UK - The NAPF has launched an executive share scheme assessment kit to give pension schemes and directors guidance on firms' processes of remuneration.