United Kingdom

UK/US - Principal Global Investors has acquired a majority stake in London-based emerging markets specialist Finisterre Capital.

UK - A third BA pension scheme trustee has quit the scheme in the row over future indexation saying the scheme had become a ‘political football'.

UK - A second British Airways trustee has resigned from the scheme over the decision to move from RPI to CPI for future pension increases.

UK - GlaxoSmithKline's £900m ($1.5bn) buy-in deal last year would not have been possible without transition managers, said Martin Mannion, director of pensions finance, investments and risk.

US/UK - BP , whose share price has dropped 29% since last year's Gulf of Mexico oil spill, will face opposition from two of the US's largest pension funds at the company's annual general meeting tomorrow.

UK - Unilever is to close its £5.5bn ($9bn) UK final salary scheme to existing members due to the fund's "increasingly unaffordable and unsustainable" costs.

Kentucky Retirement System, Mercer, PensionsFirst, Towers Watson, Northern Trust, J.P. Morgan

UK - Pension trustee boards continue to struggle to make swift changes in allocations to new asset classes, research by Aon Hewitt shows.

UK - The National Employment Savings Trust has appointed F&C Asset Management and HSBC Global Asset Management to manage its ethical and Sharia funds, respectively, it announced today.

UK - Scheme sponsors are likely to follow BT and bring forward contribution dates before the 2% reduction in corporation tax rate kicks in, experts believe.