Europe

UK - Allianz Global Investors is contemplating a move into the burgeoning UK bulk annuity buy-out market at a time when the viability of such businesses is being called into question.

UK - Watson Wyatt has hired Jim MacLachlan to join its global manager research team as a senior investment consultant, effective this month.

UK - Merrill Lynch Investment Managers (MLIM) has expanded its Global Consultant Relations team in London with the appointment of Paul Hamilton.

FINLAND - The Finnish pension industry has welcomed proposed changes to real estate laws but vowed not to give up on the establishment of a Finnish Real Estate Investment Trust (REIT) model.

FRANCE - Credit Agricole's asset management division today reported an increase of e9 bn in assets under management for the second quarter of 2006, taking it to a total of e520bn.

FRANCE - Activist fund manager Knight Vinke is targeting pension funds as part of a lobbying programme to increase the offer price for French energy giant Suez if it is merged with Gaz de France.

UK - Falkirk Council Pension Fund has tendered a £120m contract for diversified fixed income assets, which the fund said it hoped to award by the end of the year.

ITALY - Mercer Investment Consulting has made the first of "several" appointments with Nicola Carcano joining as head of Mercer IC in Italy, as the firm seeks to tap growing institutional opportunities in the market.

EUROPE - Corporate-sponsored European pension funds are more underfunded than their US counterparts, according to JPMorgan Asset Management's seventh annual white paper on the funding of pension plans.

MPC Investors has appointed Dan Mannix as head of sales in a newly created role, where he will be responsible for leading MPC's sales efforts globally.