United Kingdom

UK - The £59m Swan Hill Pension Scheme has annnounced it has awarded Stenham Advisors a fund of hedge funds (FoHF) mandate worth £10m, or 17% of its assets.

UK - Mercer Human Resource Consulting has appointed three senior retirement consultants to its London office.

UK - The £740m Gwynedd Council Pension Fund is tendering for a private equity fund of funds manager for a £35m mandate - five percent of the total fund.

US/EUROPE - The California Public Employees' Retirement System (CalPERS) is to invest US$200m (€157m) in the Governance for Owners Group's (GO) European Focus Fund, which invests in a small number of under-performing quoted companies across Europe.

UK - After what was described as a "competitive tender process", Paternoster has chosen State Street Corporation for its custody and securities lending services.

UK - The Investment Management Association (IMA) has branded the ruling from the International Accounting Standards Board (IASB) on initial fees as "absurd".

UK - State Street has appointed Cassie Martin vice president of sales and relationship management for the firm's expanding European transition management team.

UK - Hewitt Associates has said the number of investment managers it recommended for "unconstrained" mandates had doubled over the last two years in response to client demand.

UK - Gissings has appointed three new senior consultants in an effort to strenghten its research and products development practice.

UK - The Transport and General Workers Union (T&G), said today the company's pension proposals were still "unfair and unacceptable", after British Airway's statement on the actuarial review.