United Kingdom

UK - State Street Global Advisors (SSgA) lost a £27.5m (US$55.4m) equity mandate in the shake up that saw Barings scoop £23m from United Norwest Co-operatives Employees' Pension Fund.

UK - Paul Maloney, national officer of the GMB union, has blasted merger and acquisition activity for damaging pension funds and cited the Pension Protection Fund (PPF), as being part of the problem.

UK - The Universities Superannuation Scheme (USS) has made a significant allocation into the alternative asset market by investing US$200m (£100.7m ) into Partners Group Alternative Beta Strategies.

UK - Communication will be the key to the success of the new personal accounts, said John Hutton MP, during the NAPF annual conference in Manchester.

UK - Investment consultants have welcomed a proposal from Henderson Global Investors to use a diversified growth portfolio for the £300m Henderson Group Pension Scheme.

UK - The Dumfries and Galloway local authority pension fund has completed a two-year restructuring of its portfolio by awarding two active currency and two global equity contracts.

UK - Amid claims its risk-based levy will kill UK defined benefit (DB) pension schemes, the Pension Protection Fund (PPF) today confirmed it would not consider investment strategy as a separate risk factor.

UK - British pension funds have been slower to invest in listed property than their global counterparts, claimed Stephen Hayes of boutique manager Perennial Real Estate Investments.

UK - In an attempt to kick start the defined benefit (DB) buyout market Paternoster has urged trustee boards to buy now while rising bond yields force prices down.

UK - Baring Asset Management has been awarded a £23m diversified growth mandate by United Norwest Co-operatives Employees' Pension Fund.