United Kingdom

UK - Currency overlay managers failed to add value for the second consecutive quarter, according to BNY Mellon Asset Servicing.

UK - A concession announced in yesterday's Budget which will allow small pension pots to be converted into cash has been widely welcomed.

UK - GDP growth forecasts have been scaled back by Alastair Darling, to between 1.75% and 2.25% in 2008.

UK - Consulting firm Watson Wyatt has developed an updated version of its financial modelling system, VIPitech, which it claims slashes stochastic run times.

UK - UBS has confirmed it is working on a plan to launch a UK fiduciary management service for pension funds.

UK - West Sussex County Council has increased its allocation to property from 8.2% to 10%.

UK - Almost three quarters (71%) of pension funds in the UK do not actively pursue environmental issues, but 94% believe they could do more, according to research from eShare.

UK - Marks & Spencer has said it would put £200m (US$403m) into its defined benefit pension scheme over the next three years by increasing the amount of property, the fund had in its portfolio.

UK - Pension funds have embraced unconstrained equity according to Hewitt Associates.

UK - The Pensions Policy Institute (PPI) has said saving in a pension "may not be suitable for some groups of people".