United Kingdom

UK - Industry responses to the Pension Protection Fund's (PPF) Statement of Investment Principles (SIP) have been mixed, with one critic saying that its cautious LDI approach could impact badly on the equity markets.

UK - Proponents of the UK transition management industry proposed code of conduct, the T-Charter, have rounded on potential non-signatories and demanded they explain to pension funds what their objections are.

UK - European property fund manager Cordea Savills has appointed Patrick Carr director of UK Residential.

EUROPE - Mercer Global Investments (MGI), the multi-manager business of Mercer Human Resource Consulting, has launched in Europe and already has more than US$500m of assets under management.

UK - Legal & General senior actuary Joseph Lu has joined competitor Synesis Life as a senior manager.

UK - The Pensions Regulator will be launching an investigation next year into proposed vehicles that could allow employers to abandon their occupational pension schemes.

UK - The £1.9bn Leicestershire County Council Pension Fund, run by the county council, is seeking a manager for a £100m targeted or absolute return mandate.

UK - Edmund Truell, former head of Duke Street Capital, has received backing from US financier Christopher Flowers for his pension buy-out firm, media reports have claimed.

UK - The FTSE 100 FRS17 deficit decreased to £49.9bn, down from £56bn at end August, according to Watson Wyatt.

UK - Nomura Asset Management is set to launch a new global emerging markets equities commingled fund for institutional investors at end October.