United Kingdom

UK - The Investment Management Association has applauded recommendations to create a "standalone asset management pillar" for Europe.

UK - Some UK pension funds are taking 40% more risk than they need to get the same expected return, a leading fund manager claims.

UK - US fund management giant Janus Capital is to target UK-based schemes with its Intech subsidiary, which it claims can consistently outperform even in efficient markets.

UK - Employers must do more to promote pension awareness among job-seekers and its impact on pay and conditions, unions claim.

UK - Britannic Asset Management has launched Multi-Asset Class Solution, a service which will allow schemes to set their balanced funds' asset allocation.

UK - Aon Consulting has appointed Ian McKinlay as head of the investment consulting practice, with immediate effect.

UK - Axa Investment Managers has launched a second credit equity volatility arbitrage hedge fund - Axa KAPPA Opportunities.

UK - Royal Bank of Scotland's acquisition of the US bank Charter One Financial makes "business and financial sense" for investors, according to Isis Asset Management.

UK - Gissings is urging the government to keep stakeholder's 1% fee cap despite fierce lobbying from providers, as they provide better value than personal pension products.

UK - Aegon posted first quarter pre-tax profits of £32m for its UK operations, up 10% compared to the same period last year.