Europe

UK - Mellon Trust has bagged its second stakeholder administration mandate from general insurers Direct Line Life.

UK - One of Unilever's key expert witnesses took the stand and admitted that it was difficult for a fund to consistently outperform the benchmark.

UK - Mike Arnold, chairman of the Association of Consulting Actuaries (ACA), has called for a concerted effort by the Government and the pensions industry to curb the slide in occupational pensions.

UK - AXA Investment Managers (AXA IM) has enhanced its UK fixed-income team with the appointment of Neil Sutherland as a fund manager.

UK - Watson Wyatt Partners has appointed Monica Fisher as the first external member of its board.

UK - London-based Trafalgar Capital Management has received IMRO authorisation and launched its first global hedge fund, called the Trafalgar Fund.

UK - Measures announced this week to introduce pension credits and increase the basic state pension could find some pensioners worse off, according to consultants William M Mercer.

UK - Hermes Pensions Management is left reviewing its options following the rejection of an undisclosed bid for the troubled Edinburgh Fund Managers.

UK - Henderson Global Investors (HGI) has hired George Latham as senior fund manager for its socially responsible investment portfolio (SRI), starting December 10.

UK - Jupiter Asset Management has strengthened its environmental research unit with the appointment of Simon Abrams as senior researcher.