Europe

UK - Fledgling independent investment manager Ashcourt Asset Management has hired a senior investment manager as part of push into the UK pensions market.

FRANCE/SPAIN - BNP Paribas España is set to boost its presence in the European private pensions market following the acquisition of JPMorgan Chase's Spanish asset management and private banking businesses.

UK - Schroders is to outsource its institutional and retail unit trust administration to International Financial Data Services.

UK - BT's pension scheme deficit using FRS17 calculation soared from £1.8bn to £4.2bn in the last three months, research by investment bank JP Morgan suggests.

UK - Goldman Sachs Asset Management's funds under management rose 11% in the last year from US$314bn to US$350bn.

UK - Fears over a massive deficit in British Airways' smaller pension plan - the New Airways Pension Scheme - have been heightened by the company's annual report.

UK - A High Court ruling that a pension scheme can only calculate its shortfall once could penalise active members, consultants warn.

UK/NORTH EUROPE - Pictet Asset Management has appointed Jonathan Hayes as head of UK and Northern Europe business development.

UK - Man Investment Products is to launch its first sterling denominated fund tailored for UK institutional and private investors.

SCOTLAND - Edinburgh-based independent investment manager Martin Currie is to launch its third hedge fund on July 15.