Europe

UK - The National Association of Pension Funds has welcomed the current trend by fund managers to appoint engagement specialists.

UK - Aqera's Business Review System (BRS), the first commercially available online system designed to help stamp out the mis-selling of financial products, has passed a series of tests by compliance professionals, according to Aqera.

UK - Internal pension fund managers produce superior investment returns to those achieved by external firms, according to the WM Company.

UK - Hermes UK Small Companies Focus Fund became operational this week.

UK - Frank Russell has boosted its capital markets research team with the hiring of Brett McElwee as an analyst based in London.

EUROPE - Swiss private bank Julius Baer has wheeled out a new international equity-based offering, adding to its Navigator fund family.

US/EUROPE - Deutsche Asset Management (DeAM) has agreed to buy the US-based real estate investment manager RREEF, from its European owners for a total of $490m.

EUROPE - Brussels again issued a warning on the delay around the "slow" progress of the pensions directive in view of the year-end deadline.  The update follows the meeting of EU economic and finance ministers in preparation for next week's Barcelona...

UK - Clerical Medical Investment Management (CMIM) is on the hunt for a number of investment professionals as it gears up to achieve the targets it has set itself in terms of winning new business.

UK - Rolls-Royce has dismissed concerns surrounding the health of its UK and international pension funds, following news that the company has pension liabilities of £397m.