United Kingdom

UK - Investment companies are set to see balance sheets punctured once more this year as they contend with spiralling costs, falling revenues and a changing investment landscape.

UK - Third-party pension scheme administrator HS Administrative Services has appointed Dick Nunn as head of business development.

UK - Trade unions are divided over what action to take against pension schemes which invest in the arms trade.

UK - Aberdeen Asset Management will not be able to sell its way out of its cash problems, a leading consultant claims.

UK - Merrill Lynch Investment Managers' UK Equity Fund, MLUKE, has outperformed its benchmark over one, two and three years.

EUROPE/UK - European equity markets are expected to rebound this year, with average returns reaching highs of 15% on both UK and continental European stocks.

UK - Gissings is holding a series of trustee training events during the first half of this year.

UK - Royal London Asset Management has promoted Julia Martin to the position of head of property.

UK/EUROPE - Northern Trust has set up two manager-of-manager funds for Scottish Equitable.

UK - Standard Life Investments has launched its 2003 roadshow with a meeting of more than 80 financial advisers at the Marriott Royal Hotel in Bristol.