Europe

EUROPE - Custodians are increasingly being selected as preferred partners in fiduciary manager appointments, research suggests.

UK - Mercer has launched a passive diversified growth fund that will sit at the heart of its defined contribution default strategy for workplace savers.

UK - The Pensions Management Institute (PMI) has elected Susan Andrews to replace Mike Sullivan as president.

US/UK - Affiliated Managers Group has appointed BlackRock head of global institutional client business Andrew Dyson to a newly created position as executive vice president and head of global distribution.

UK - Iain Duncan Smith has said there will be no u-turn on controversial proposals to raise the women's state pension age to 66 by 2020.

EUROPE - European markets rallied this morning on news the European Union will support troubled Greece if it introduces additional spending cuts and a privatisation programme.

EUROPE - Lobbying by pension funds for independent valuation of hedge funds has fuelled a hiring spree for back office staff, research suggests.

UK - The Institutional Investor Committee has confirmed the membership of its newly-formed Advisory Council.

EUROPE: Announcing a haircut on Greek bond holdings would help restore a positive mood to bond markets, which have largely priced in such a move, said DWS Investments' CIO Asoka Wöhrmann.

UK - Investment boutique J O Hambro Capital Management (JOHCM) has become the latest signatory to the United Nations Principles for Responsible Investment (UNPRI).