United Kingdom

UK - A "much wider suite" of investment products for long-term saving is needed, Sainsbury's Bank claims. I

UK - The £534m Somerset County Council Pension Fund is set to increase its weighting in equities from 70% to 80% in a bid to "minimise costs" over the long-term.

UK - Moving away from UK stocks and adopting a globally diversified portfolio can reduce pension scheme investment risk, a senior fund manager claims.

UK - Trust disclosure laws are "up in the air" and need urgent clarification, the Association of Pensions Lawyers claims.

UK - Pension industry software provider The Exchange has launched a new compliance centre on its Exweb IFA portal.

UK - Law firm Sacker & Partners is advising pension fund trustee clients to implement a risk management system to protect against future claims.

UK - Scottish Widows Investment Partnership has appointed David Thomlinson as investment manager, global bonds and economics, effective June 16.

UK/IRELAND - ABN Amro Mellon Global Securities Services has introduced a financial reporting application to support the Statement of Recommended Practices pension reporting requirements in the UK and Ireland.

UK - Winterthur Life's group pensions business increased 106% to £28m in the first quarter of 2003.

UK - The Financial Services Authority has announced the conclusions of its consultation on shortselling.