Europe

UK - Mercer Investment Consulting has been hired as investment consultant at the £1.2bn Hertfordshire County Council Superannuation Fund.

UK - Passive managers will not be able to meet trustees' expectations now the market is producing more moderate returns, Schroder Investment Management claims.

UK - Pension funds should take advantage of market chaos to snap up cheap equities, Commerzbank recommends.

EUROPE/UK - Strong medium-term prospects in biotechs are slowly securing interest from institutional private equity investors, according to new data.

UK - Fidelity Asset Management head of UK fixed income Andy Jenkins is stepping down from his role to develop its global fixed income operations.

UK/IRELAND - Skandia has appointed global money management firm MFS to act as the sub-advisor on its Dublin and UK-based OEICs.

UK - A distinction between giving "advice" and "disseminating information" could boost the take up of stakeholder pensions, benefits provider B&CE believes.

EUROPE/UK - Strong medium-term prospects in biotechs are slowly securing interest from institutional private equity investors, according to new data.

UK - Property is set to become the best performing asset class for the past 10 years, property index measurers claim.

UK - Nearly 40% of the UK's quoted companies have been identified as having "reckless" management, a report by financial analyst Plimsoll claims.