Pension schemes in Europe returned to investing in equities in 2009, following a retreat from stock markets during the sharp falls of the previous year, according to dealflow information from consultancy bfinance.

Bfinance, a consultancy that works on behalf of pensions to find fund managers to invest their money, said that of the money it placed with fund managers last year, nearly half, or 47%, went into equities. In 2008, just 19% of the money it placed went into stock markets.