United Kingdom

UK/GLOBAL - Strategy diversification is key to developing a currency portfolio that offers downside protection, currency experts said.

UK - Nationalised bank Northern Rock has confirmed it will close its final salary scheme to future accruals as part of a cost-cutting exercise.

NETHERLANDS/UK - Dutch pension fund and asset manager PGGM has allocated €75m (US$89.8m) to a UK property fund run by Standard Life.

UK - J.P. Morgan global head of transition management (TM) John Minderides has left the firm. Meanwhile, BlackRock has lost one senior TM member, and the European co-head has gone on sabbatical.

GLOBAL/UK - Emerging market debt fundamentals are attractive for pension funds seeking portfolio growth and diversification, J.P. Morgan Asset Management said.

UK - The UK government should issue longevity bonds to help pension schemes and insurance companies address longevity risk, the Cass Business School said.

UK - Increases in inflation assumptions have increased scheme liabilities by £100bn (US$146.1bn) but are still failing to keep pace with market assumptions, experts said.

UK - The coalition government will take a "long hard look" at auto-enrolment and the delivery of NEST before deciding on its future, Steve Webb said.

UK - The current fiscal and political strain on the eurozone could prove to be too much for the weakening euro and there is a chance the currency could collapse, attendees at the Global Pensions Currency Management Forum in London heard.

UK - Mohamed Al Fayed decided to sell Harrods after the pension scheme trustees refused to clear a dividend payment, it emerged yesterday.