Europe

EUROPE - A record 234 companies defaulted on US$178bn (£109bn) worth of corporate bonds worldwide last year, research by ratings agency Standard & Poor's shows.

UK - Investec Asset Management has won a £40m bonds and cash mandate from Folgate Insurance Company, a wholly owned subsidiary of The Folgate Partnership, a recently established specialist insurance distribution company.

UK - A "refresher" trustee workshop is being held by CMS Cameron MaKenna on April 2.

EUROPE - European governments will be forced to shell out an average E456bn a year if public expenditure and pension benefits continue to run at current levels.

UK - Media company Granada is to face shareholder dissent after the NAPF recommended abstentions in the re-election of two of its directors.

FRANCE - Pictet Funds is looking at opening an office in Paris, France on the back of the success of its expansion into Madrid, Spain.

UK - Prudential M&G won eight pension fund bond mandates worth £1.3bn last year.

EUROPE - Derivatives Portfolio Management, the alternative investment administration specialist, has announced the formation of DPM Europe and the opening of an office in London.

UK - Employers and trustees will have to reimburse legal expenses if a successful claim is made to the ombudsman regardless of the circumstances.

UK - MFS International (UK) has appointed  Liz Hawes as a sales support executive.