United Kingdom

UK - Northern Venture Managers (NVM) has backed the eight-figure management buy-out (MBO) of East Yorkshire-based Horncastle Industries.

UK - Eoin Brophy has joined Gartmore as corporate communications manager.

UK - Actuaries are considering whether discontinuance valuations should be part of the profession's guidance notes.

UK - Local authority pensions costs will soar if firefighters win their battle for a 40% pay rise, Hymans Robertson warns.

UK/EUROPE - Credit Suisse Asset Management (CSAM) has hired Caroline Brown to head its European credit research team.

UK - IPN's sister publication, Professional Pensions, will tonight host its Pension Scheme of the Year Awards.

UK - Actively managed pension funds outperformed index funds in most of the major markets last year, research from the WM Company shows.

UK - Pensions system and software supplier Aquila has acquired Exemus, a development and internet business.

UK - Merrill Lynch Investment Managers (MLIM) has lost Michael Housden to UBS Global Asset Management.

UK - Schroder Investment Management has sold its DC administration business to Alexander Forbes and its consulting arm Lane, Clark & Peacock as part of Schroder's plan to refocus its core activities.