United Kingdom

UK - Catalyst Capital, Bank of Scotland Corporate Banking and West Coast Capital have teamed up to launch a property fund.

UK - Companies should consider a range of hybrid options when they close their defined benefit schemes, Mercer Human Resource Consulting claims.

UK - Legal & General Investment Management has won, on average, £1bn of new pension fund business every month since 1998, its third quarter report reveals.

UK - A shortage of new properties coming on to the market will curb pension scheme demand for the burgeoning asset class, fund managers claim.

UK - Directors' pay has risen faster than other employees despite pressure from corporate governance analysts to link remuneration to performance.

UK - Contributions and communications are two of the most important factors in the success of a money purchase scheme.

UK - Steel workers are calling for changes in scheme wind-up laws to prevent workers being "legally mugged" of their pensions.

UK - HGI is to launch a cash fund aimed at pension schemes and other investors wanting to preserve both capital and liquidity.

UK - The Global Institutional Governance Network has released a set of guidelines on auditor independence.

UK - Moody's Investors Service has assigned an Aa credit rating and a MR1 market risk rating to two the JPMorgan funds.