United Kingdom

London Local Authorities are paying double the average national rate for fund manager services, according to DETR figures.

UK pensions minister Jeff Rooker turned down proposals from his own backbench for new legislation on ill-health pensions and greater scheme members' rights.

UK pension funds are beginning to contribute more to UK private equity, according to the British Venture Capital Association's (BVCA) investment activity report.

UK charity fund The Pensions Trust is considering the possibility of investing £100m in alternative assets.

Scottish Widows Investment Partnership has appointed Graham Wood as head of global sectors.

Scottish Equitable is warning pension specialist IFAs that changes to tax free cash under additional voluntary contributions (AVC/FSAVC) could have a significant impact on the advice they give to clients.

UK-based Malborough Stirling Administration (MSA) has joined forces with South African financial services group Sanlam to promote third-party pensions administration services.

London Borough of Brent Superannuation Fund has drawn up a preliminary shortlist of five managers for a newly created £7m small caps brief.

UK private client stockbroker Killik & Co has linked up with Scottish Widows to offer its 37,000 clients stakeholder pensions.

UK fund manager Aberdeen Asset Management has acquired the investment management business of Life Assurance Holding Corporation, in a £86m share and loan notes deal.