United Kingdom

UK - Indices used to benchmark manager performance are unsatisfactory and need a radical rethink, Isis Asset Management claims.

UK - "Subjective" assumptions under FRS17 can alter earnings by as much as 20%, research by UBS shows.

UK - Legal & General Property has sold a Heathrow office building for £9m to a private buyer, reflecting a yield of 5.75%.

UK - Scheme fears over the performance of socially responsible funds have been allayed after one fund topped Mercer's latest survey of returns, SRI advocates believe.

UK - Investment consultancy Psolve has appointed four senior team members to its head office in London.

UK - Threadneedle Investments fund manager Dominic Baker is taking over responsibility for its Pan-European Growth Fund.

UK - Record numbers of complaints are swamping the pensions ombudsman's office, which admits it is unable to keep up with casework.

UK - JPMorgan Investor Services has been selected by both Isis Asset Management and Axa Investment Managers to provide fund accounting services.

UK/US - Watson Wyatt has reassured its client base that "billing irregularities" in its US operations will have no implications for Britain.

UK - Morley Fund Management chief operating officer Nick Alford has been promoted to the group's board.