United Kingdom

UK - MPs from all sides slammed Treasury inaction over the Equitable debacle, calling for the Government to compensate policyholders should they be found guilty of "negligence" by the long awaited Penrose inquiry.

UK - Balanced funds registered a -12.6% median return during the third quarter of 2001, the worst result on record since the -15.2% return for Q3 in 1990, according to the latest CAPS pooled pension fund survey.

UK - The Financial Services Authority (FSA) has admitted that "a number of issues could have been better handled", following the release of a report pointing to its role in the demise of former mutual, Equitable Life.

UK - Government predictions on pension sharing on divorce transfer values are about a 12th of actual figures, Scottish Equitable claims.

UK - Industry experts are backing calls for an open debate on why consultants have been advising pension funds to exclude property from pension portfolios.

UK - The £826m Lincolnshire County Council Pension Fund is looking to hire a manager to run a £20m private equity mandate.

UK - Edinburgh Portfolio Limited - a specialist fund of funds unit of Edinburgh Fund Managers (EFM) - has been hired as the sole investment adviser for the newly launched Old Mutual Guernsey (OMG) Property Fund.

UK - Unilever's claim against Merrill Lynch Investment Management (MLIM) will hinge on the wording of the contract between the two parties, the judge presiding over the case indicated in the High Court today.

UK - Occupational schemes would get a major boost if radical plans to introduce a new universal protected pension are enacted, industry experts claim.

UK - AXA Investment Managers - a unit of AXA Group - has enhanced its equity research team with the addition of two new analysts.