United Kingdom

UK - Subdued returns from equities are seeing pension funds turn to non-traditional asset classes like property and private equity in a bid to diversify portfolios and achieve higher investment returns.

UK - Gavin Corr (pictured) has joined Merrill Lynch Investment Managers (MLIM) on its European equity team where he will be managing the MLIF European fund.

UK - The £2.7bn South Yorkshire Pension Fund has become the first external pension fund to invest in the Hermes Absolute Return Fund (HARF).

UK - Schroder Property Investment Management (Schroders) has appointed Toby Springett as the third member of its newly created real estate ventures group, working alongside Joe Froud and Robin Pearce.

UK - AXA Investment Managers (AXA IM) has promoted Kathleen Currie to director, structured solutions, on its liability driven solutions (LDS) team on the back of Vincent de Martel's departure to BGI.

UK - West Yorkshire Pension Fund (WYPF) has appointed five managers to invest £260m - 5% of its total investment portfolio - in fund of hedge funds over the next three to four years.

UK - Unfunded public sector pension liabilities will be just under £700bn by March, according to consultants at Watson Wyatt.

UK - State Street Global Advisors (SSgA) has developed alternative investment models and screening methodology to counter the potential effects of the new International Financial Reporting Standards (IFRS) on its portfolio and stock selection.

UK - The £670m Shropshire County Council Pension Fund has awarded Goldman Sachs Asset Management (GSAM) and Majedie Asset Management UK equity mandates worth a total £160m at the expense of Deutsche Asset Management, State Street Global Advisers and Barclays...

UK - The trustees of the Allders Pension Scheme have appointed Pinsent Masons to advise them following the placement of Allders into administration.