Europe

UK - Actively managed pension funds outperformed index funds in most of the major markets last year, research from the WM Company shows.

EUROPE - Almeida Capital has appointed Kevin How associate director to develop its placement and advisory services.

FINLAND - Finnish insurer Sampo has made several senior appointments, effective from October.

UK - Pensions system and software supplier Aquila has acquired Exemus, a development and internet business.

UK - Merrill Lynch Investment Managers (MLIM) has lost Michael Housden to UBS Global Asset Management.

UK - Schroder Investment Management has sold its DC administration business to Alexander Forbes and its consulting arm Lane, Clark & Peacock as part of Schroder's plan to refocus its core activities.

UK - Commercial property should deliver five-year real returns of 7-8%, well above its long-term average return of just over 4%, Aberdeen Property Investors predicts.

SPAIN - Gartmore Madrid has appointed Alfonso Balsera as sales manager, Iberia.

UK - State Street Global Advisors (SSgA) is to launch a market neutral global hedge fund aimed at pension funds.

UK - British Airways has dismissed fears that its pension deficit threatens the future of the firm.