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December
UK asset manager, Jubilee Financial Products, has appointed BNY Mellon Asset Servicing.
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Standard Life Investments today announced that it has received public distribution status from the CNMV in Spain for 10 funds from its Luxembourg-domiciled SICAV fund range.
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U.K.’s Financial Services Authority (FSA) has rejected the proposal to force “standardised” OTC contracts into clearing houses
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Intesa Sanpaolo is selling its custodian business unit to State Street for $2.59 billion
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The First Swedish National Pension Fund, Första AP-fonden (AP1), has selected 12 investment managers to run passive and active accounts.
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AEGON Asset Management UK has appointed Langham Hall as fund administrator for its new healthcare fund.
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Swiss alternative assets manager, Partners Group, has closed its secondary fund at its hard cap of $3.63 billion.
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Net sales flows of long-only funds have risen to €35 billion, says Lipper
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The Czech government will transfer securities settlement to the Prague Stock Exchange by 2010
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BNY Mellon Alternative Investment Services has launched a service that independently validates a hedge fund’s position records to third-parties and verifies the fund's pricing
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Deutsche Bank will require third-party asset managers for its new Luxemburg pensions pool.
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Hermes Fund Managers has bought London-based asset manager, Sourcecap. Sourcecap will form part of Hermes’ multi-boutique platform alongside hedge fund, BPK.
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The Central European Gas Hub (CEGH) and the Vienna Stock Exchange have jointly set up a gas exchange in Vienna.
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Deutsche Post DHL has appointed BNY Mellon a mandate to serve as depositary for its American depositary receipt programme
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The Fonds de Réserve pour les Retraites has named six managers to run investment grade credit dominated in euros
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Clive Capital has closed the gates of its $3.98 billion commodities hedge fund to new money. In November, the fund returned 4%, led by precious metals and agriculture.
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Ex-Nuon trader, Fredrik Adolfson, is looking to launch an energy fund on January 18 with Adapto Advisors.
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The UK government has named two fund-of-fund managers for its UK Innovation Investment Fund (UKIIF).
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Northern Trust is to offer environmental emission analytics, enabling institutional investors and high net worth individuals across the globe to effectively measure the carbon footprint of their investments.
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Henderson New Star and Western Asset Managers have been replaced as bond managers by the Glasgow City Council, IPE reports. They were holders of the Strathclyde Pension Fund’s bonds contracts.
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Swiss Life Holding has set up a $343 million property vehicle real-estate investment fund.
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ATP has set up a climate change fund. The national Danish pension scheme has launched the fund to invest in privately-owned companies across the emerging market economies.
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BNY Mellon Asset Servicing has appointed Jeannine Lehman as head of client relations
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Euroclear Bank and the newly created Shanghai Clearing House have signed today a Memorandum of Understanding as the basis to build a close co-operative relationship.
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Hedge funds' pain won’t all have been in vain, for the industry has found that managed accounts are potentially the way forward to better client relationships and higher fees
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Merchant Capital has rolled out an Ucits III umbrella structure. The Irish-domiciled structure will speed the time to market for new Ucits funds.
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BNP Paribas Investment Partners (BNPP IP) is looking to expand its boutique fund operations from 20 to 26. The boost is a result of BNPP IP merger with Fortis Investments.
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Blacksquare Capital is planning to set up an absolute return multi-manager fund
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Concerns about inadequate GP reporting, conflicts of interest, and fund terms and conditions will lead over three quarters of investors to refuse commitments to new funds
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The Committee of European Securities Regulators’ recent consultation on proposals for pan-European definitions of money market funds paves the way towards a pan-European standard
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Chi-X Europe has announced that its Chi-Delta non-displayed order book was Europe’s largest dark pool in November
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State Street has inked a deal buy Channel Island-based asset manager, Mourant International Finance Administration
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Tredje AP-fonden (AP3) is looking to hire several corporate credit bond managers
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Ucits enjoyed positive net inflows again in the third quarter of 2009.
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Julius Baer has won Fuchsbriefe’s 2010 league for top wealth managers in the German-speaking countries
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RBC Capital Markets, the corporate and investment banking arm of Royal Bank of Canada, today announced that it has hired Simon Ballard as a director and senior credit strategist in London.
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November
Credit Suisse has launched 16 Xmtch ETFs on Deutsche Boerse’s Xetra platform
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Skandia has floated six BlackRock tracker funds on its platform
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Up to 55% of underlying performance from absolute return funds has been 'extracted' through various fees and cost so far in 2009
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Thomson Reuters has acquired the business of Asset4, a provider of ESG information and tools for professional investors and corporate executives
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BNP Paribas has ousted the head of its custodial services division, Jacques-Philippe Marson
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Paris private equity firm, Edmond de Rothschild Investment Partners, has raised $373 million for its growth capital fund
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Standard Life Investments is planning to set up a $295 million pan-European recovery fund
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Sweden has proposed new rules to regulate hedge funds and private equity firms
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Jean-Paul Gauzes, a French member of the European Parliament, has drafted a report to soften hedge fund regulations
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Strathclyde Pension Fund, Glasgow, Scotland, is seeking at least one active real estate manager
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London-based Financial Risk Management has launched FRM Principia, a range of fund of hedge fund products
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Vega-Chi, a nascent convertible bond platform, has selected BNP Paribas as bond clearer
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Volkswagen U.K. has placed about half of its $116 million defined contribution scheme default fund with an absolute return manager
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J.P. Morgan has hosted a roundtable with Swedish investors, borrowers and other industry participants to debate the regulatory, risk and execution challenges affecting securities lending.
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Occam Asset Management will roll out an Ucits III Asian Absolute Return fund in December
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EquiLend introduces an Agent Lender Disclosure service that is available on a distinct and stand alone basis.
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Stanley Fink, ex-CEO of Man Group, is teaming up with E.ON for an infrastructure fund
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Gartmore is looking to list on the London Stock Exchange next month
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Barings' annual poll of UK pension schemes reveals that 29% are now more likely to allocate to emerging markets
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ING Investment Management Europe announced today that it has appointed Michel van Elk CEO of ING Investment Management Europe.
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RREEF, the alternative assets group of Deutsche Bank, is unveiling a German special fund. The European Core Recovery Fund will seek office and retail income-driven core assets across Europe.
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The UK government has drafted a bill to prevent “abusive” short selling. The bill proposes to give formal jurisdiction to the Financial Services Authority to place “emergency restrictions” on short selling.
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France’s Fonds de Réserve pour les Retraites (FRR) has appointed six firms for inflation-linked bond mandates
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Credit Suisse has expanded its ETF platform to Germany
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Calastone is unveiling a transaction settlements system for the mutual fund industry.
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Emotional Assets Management & Research has set up its first fund
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Dow Jones & Company is looking to sell its interest in Stoxx unit for $309 million
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GLG is looking to float five absolute return funds into the U.K. market
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Masami Tada has been appointed chairman and chief executive of Daiwa Securities SMBC Europe
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Chi-X Europe has reduced the fee for passive orders on its Chi-Delta dark pool
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Swiss firm, Gottex Fund Management Holdings, has received an unsolicited offer for its listed London fund
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There is rising concern over the degree of “clustering” among UK equity income funds, according to Standard & Poor’s Fund Services, in its latest review of the sector.
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BNY Mellon today announced the appointment of Leonique van Houwelingen in the newly created role of country executive for the Netherlands.
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EquiLend’s ALD (agency lender disclosure) service is now available on a distinct and stand alone basis.
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Euroclear Bank and Xtrakter have launched the means for mutual clients to automate transaction information flows from trade matching through to settlement
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Invicta Capital is planning a $500 million fund targeting construction and operation of biomass combined heat and power plants in Scotland
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The London Borough of Lambeth is offering seven investment mandates for its pension fund
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The London Stock Exchange has postponed the launch of its dark pool, Baikal
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ETF Securities is looking to set up an exchange-traded currency platform in Europe
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Asset manager, Neuberger Berman, is setting up a new commodity futures fund in Europe
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Sweden has drafted a new proposal to remove a general limit on hedge funds’ leverage
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Spanish exchange, Bolsas y Mercados Españoles (BME), is planning to set up a trade repository for the over-the-counter (OTC) derivatives markets,
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JP Morgan Asset Management today announced the expansion of their emerging markets debt team with the hiring of three senior portfolio managers.
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Otkritie, a fast-growing Russian brokerage, has appointed two leading Russia and CIS market figures to its executive team
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Mutual life assurer, Scottish Life, has included 10 new funds to its core fund range
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Tyrus Capital, the hedge fund set to be launched on Monday by former Deephaven manager Tony Chedraoui, has raised more than $800m
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Property and finance group, Mill Group, is looking to start an $823 million residential property in London and the south-east
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October
BlackRock has started a new absolute return bond fund. The fixed income strategies fund will be a Ucits III compliant fund.
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LCH.Clearnet has cautioned that it will not be able to offer clearing services to Chi-X Europe and three other share trading platforms.
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Swedish firm, Keel Capital, has appointed RBC Dexia Investor Services.
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BNY Mellon has received approval from the Irish Financial Regulator to establish a new bank licensed entity in Ireland.
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London Borough of Havering Pension Fund is looking to award two mandates, worth $100 million in all. It is looking for a global passive equity manager to oversee $49-74 million.
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John Barker has been hired by trading platform, Liquidnet, as head of international. Barker will also retain his role as the managing director of Liquidnet Europe.
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RBC Dexia Investor Services has been selected by Keel Capital AB as custodian, domiciliary agent, administrative agent, registrar and transfer agent.
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UK trading system, Turquoise, will roll out six exchange-traded commodities on its main trading platform on November 13.
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HSBC France will sell its mutual funds custody and fund administration operations to global asset servicing provider
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ING Groep will spin off its insurance and investment management businesses
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Swiss investment firm, Naissance Capital, is to start a fund that will invest in companies with a high number of women executives
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A survey published today by RBC Dexia Investor Services and KPMG shows how some of Europe's largest asset managers plan to capitalise on UCITS IV.
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Clearstream and Banque centrale du Luxembourg (BCL) are jointly launching a collateral service
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London-based Investec Asset Management is floating an absolute return emerging markets currency fund
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LCH.Clearnet and Oslo Clearing are teaming up to set up clearing for the Oslo Børs
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Fund manager AllianceBernstein is looking to set up a new global thematic fund in Europe
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Lloyds Banking Group is selling some of its non-core investment-management business assets for about $58 million
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The private equity unit of JPMorgan Chase and Russia’s Interros Holding are planning to form a $1 billion investment firm
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Credit Suisse today announced that it is expanding Credit Suisse Xmtch, its successful ETF range into Italy.
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Despite the deep recession afflicting the wider economy, the message from the Irish fund management community is that Ireland is still a good place to do business. Paul Golden reports.
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Germany-based Aquila Capital is launching an alternative fixed income fund
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An informed debate is needed to look at ways of making public sector pensions more sustainable
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HSBC has launched its HSBC Ucits AdvantEdge fund of hedge funds
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Lloyds Banking Group is looking to sell some of its Scottish private fund management operations to asset manager, Rathbone Brothers
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The Swiss market watchdog, FINMA has started a consultation period on its circular on repos and securities lending and borrowing.
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HSBC has announced the appointment of John Flint as chief executive of HSBC Global Asset Management
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J.P. Morgan’s Worldwide Securities Services business has been appointed to provide custody and related services to three UK pension funds
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Buckinghamshire County Council Pension Fund has selected Royal London Asset Management to manage $175.6 million in active bonds
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The head of Europe, Middle East and Africa at UBS Global Asset Management will resign from his post
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Essex Pension Fund has hired Fidelity International for an active global equity mandate
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Odey Asset Management is continuing its investment in quality fund managers with the appointment of Simon Todd and Michael Nickson to run the group’s global equities strategy
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Merseyside Pension Fund will retain the services of Schroders and Legal & General, Global Pensions reports
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Shell Pension Fund is planning to invest hundreds of millions of pounds in alternative assets
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Union Bancaire Privée has hired Richard Wohanka, former chief executive of Fortis Investment Management, to take over the Swiss bank’s new asset management and alternative investments division
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Insight Investment, the asset management unit of Lloyds Banking Group, has rolled out a tactical asset allocation fund-of-funds
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JPMorgan has hired Roger Thompson to head its asset management division in the UK
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Full, mandatory clearing counterparty services have been introduced on two trading platforms, significantly reducing trading risk and cost
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Local government scheme of UK, West Midlands Pension Fund, has invested $64 million in a global long-short equity fund of hedge funds
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Impax Asset Management has appointed Allan McKenzie as chairman of its new Asian investment trust
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Aberdeen Asset Management has integrated its German operations under one company in order to consolidate its sales and distribution teams
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Crédit Agricole Structured Asset Management has launched a range of 10 equity exchange-traded funds on Euronext Paris
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Ucits funds posted net inflows of €30 billion during the second quarter of 2009, according to EFAMA
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Former GLG hedge fund manager, Georges Gedeon, has launched his own hedge fund in Paris
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Financial services firms showed the first signs of recovery in the last three months, after almost two years of falling business volumes and profitability, a new survey from CBI and PwC has revealed
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The London Pensions Fund Authority fund, like many other funds, has suffered from the global financial crisis. However, the performance could have been worse but for its diversification strategy, writes James Norris
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HSBC is to launch the HSBC DJ EURO STOXX 50 ETF on 6 October 2009.
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BNY Mellon will merge its Dutch unit into the Belgian bank that it formed in May 2009
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BBVA and Newedge, a global multi-asset broker, have formed a joint venture to combine their leading positions in the Spanish markets while retaining the brand name Altura
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Impax, the AIM listed investment manager focused on the environmental sector, has announced its name will be changed to Impax Asset Management Group, subject to confirmation by Companies House
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Lisette van Doorn, chief executive of European Association for Investors in Non-listed Real Estate Vehicles, is leaving the association to join ING Real Estate Investment Management Italy.
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RBC Dexia Investor Services has announced the appointment of Frank Van Hoornweder as the new chief risk officer
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September
RBC Dexia and Unione di Banche Italiane scpa have entered into an agreement for UBI Banca to transfer its depositary bank business to RBC Dexia.
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iShares is planning to float fixed income ex-financials funds on the London Stock Exchange
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Goldman Sachs Asset Management has lost two UK pension plans’ mandates
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Norway's financial watch dog has ended its ban on short selling financials.
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Royal Bank of Scotland is planning to sell part of its asset management division, while retaining the private bank, Coutts
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Dutch pension fund APG Algemene Pensioen Groep has appointed private equity group AlpInvest Partners to run $6bn.
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Ex-Marshall Wace partner, Daoud Zekrya, is launching a long/short European equities portfolio
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The Norwegian government has hired SourceAsia and CSR China, on behalf of the Council of Ethics
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The London Borough of Harrow has named four managers to oversee the equity portfolio of its local government pension scheme
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The Swiss tax authorities have launched a large investigation in connection with perceived dividend stripping transactions
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BNP Paribas has further extended its business in Germany and will offer wealth management services
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The London Stock Exchange (LSE) has hired Jack Jeffrey as the CEO of MTS
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PNO Media has awarded a $146.2 million global emerging markets mandate to Principal Global Investors
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London Borough of Camden Pension Fund has named four managers to jointly oversee about $1 billion
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Ex-Deephaven Capital Management fund manager, Tony Chedraoui, is planning to roll out a $500 million hedge fund
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Fund manager, Tiburon Partners, is planning to set up an energy fund, Hedge Funds Review reports
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Veritas Asset Management is looking to float a $500 million long/short China fund
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Barclays Capital is planning to set up an asset management business in Russia, seeking investments from wealthy onshore clients, pension schemes and corporations
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Brown Brothers Harriman has announced that Keith Haberlin will head the firm's securities lending business in Europe and the Middle East.
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Private equity firm, Clearbrook Capital, and real estate adviser, DTZ, are launching a commercial property investment trust, Index Linked Properties
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The Danish teachers’ pension fund, Lærernes Pension, has invested around 7% of its assets in forestry
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Chris Craig-Wood, previously head of equity-index trading at Deutsche Bank, is planning to launch the LFG Equity Correlation Fund
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Liquidnet Europe, a London-based dark pool provider, will link its system with trading venues, including NYSE Euronext and Chi-X Europe
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Deutsche Bank is offering six fixed income exchange traded funds (ETFs) to investors in the UK for the first time
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Fortress International will be setting up a life settlement fund in Luxembourg, later this year
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Future Capital Partners has announced £40 million of capital for a £150 million luxury real estate development investment in Budva, Montenegro
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The “synthetic risk indicator” included in the EU’s proposed Key Information Document will lead to investors making inappropriate investment choices and suffering loss as a result, says Peter Ainsworth, managing director of EM Applications
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ML Capital has launched an alternatives advisory service for managers, headed by Shane Norman, a former star fund manager with Rothschilds and authority on alternative investment funds
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Thames River Capital is launching two new global credit funds, the Thames River Super High Grade Fund and the Thames River High Grade Fund
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Vanguard, one of the world’s largest investment management companies, has announced the registration of 22 index tracker funds and 8 actively managed funds in Denmark
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BlackRock is launching a new hedge fund to provide investors access to its BlackRock UK Smaller Companies hedge fund
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London-based Daily Mail & General Trust (DMGT) Pension Scheme has appointed Mike Weston as head of investment
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Fortis Bank Nederland is planning to set up a $200 million Sharia-compliant investment fund
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Netherlands pension fund, SBZ, has awarded a $199 million global real estate mandate to Russell Investments
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Skandia Investment Group has added Goldman Sachs Asset Management’s Emerging Market Debt fund to its Spectrum fund range
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ETF Securities has appointed BNY Mellon Asset Servicing, the global leader in securities servicing, to provide comprehensive exchange traded funds services for the ETF Securities Physical Swiss Gold Shares
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The Icelandic Pension Funds Association is setting up a fund that will invest in domestic entities, which have suffered due to the financial crisis
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Julius Baer has started a Japan fund in the UK, in a bid to target excess returns from the region
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Jupiter Asset Management is planning to combine three investment trusts into a single entity
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Nasdaq OMX Nordic and HQ Bank are planning to launch a portfolio of 10 exchange-traded funds
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PKO BP, Poland’s largest bank by assets, has appointed Zbigniew Jagiello as chief executive
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About 30 bankers from Société Générale have quit to launch their own hedge fund, including Arié Assayag, head of the French bank’s $12.7 billion global hedge funds business.
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Jyske Bank has awarded BNY Mellon Asset Servicing a mandate to provide global custody services for assets valued at $11 billion
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Scandinavia’s Procuritas has closed its fourth private equity fund at $203 million.
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T Rowe Price is launching a U.S. Large Cap core strategy via a separate account in its Luxembourg-based Sicav range.
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UK hedge fund manager Cheyne Capital Management has unveiled it first Ucits III fund
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The UK’s Gloucestershire County Council has named GMO as global equity manager
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Intesa Sanpaolo is planning to sell asset manager Banca Fideuram as part of its plans to raise up to $14.53 billion from asset disposals
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Strathclyde Pension Fund has revamped its investment strategy and structure after concluding its triennial review
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The asset management arm of Société Générale has launched a multi-sector long short fund
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Henderson Global Investors will float the New Star European Special Situations fund, a European special situations fund, in October
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LCH.Clearnet is seeking to buy out shareholders at $16 a share
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Lothian Pension Fund has hired three transition managers, BNY ConvergEx, Barclays Global Investors and State Street
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Nasdaq OMX is seeking to expand into Central and Eastern European markets
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Skandia Investment Group’s CEO Jamie Macleod will be succeeded by Nils Bolmstrand
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Dennis Lopez has joined AXA Real Estate Investment Managers as global CIO
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James Caan, owner of private equity firm, Hamilton Bradshaw, has teamed up with ING Real Estate Investment Management, to launch a UK commercial property fund
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East Riding of Yorkshire Council Pension Fund, a UK local government pension scheme, is looking for an investment manager for its $827 million multi-asset portfolio
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Equiduct Trading has named Peter Randall, the former chief executive of equities trading platform, Chi-X Europe, as its new CEO
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Hermes Fund Managers has willingly altered the mode of charging investors in its funds of hedge funds
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Artio Global Investors, a unit of Julius Baer, is expecting to make about $500 million through its initial public offering
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Vontobel Asset Management has appointed RBC Dexia Investor Services
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The Norwegian sovereign wealth fund has restructured its investment strategy directing about 1% of its funds, or $4 billion, into "green shares.
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August
Angelien Kemna has joined Dutch pension manager, APG, as its new CIO.
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University of Bristol (England) Pension and Assurance Scheme is looking to hire managers to oversee 90% of its $184.7 million in assets.
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Newscape Capital Group has appointed Paul Molere as a Board Director and Head of European Institutions.
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HSBC is to launch the HSBC FTSE 100 ETF, the bank's first European Exchange Traded Fund (ETF).
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RBC Capital Markets has hired Marc Fleischman as head of Hedge Fund Sales, Europe.
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F&C Asset Management has been brought back into the AXA Framlington Equity Income fund.
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Brookfield Asset Management has added five executives to its London-based global private equity institutional relationships team.
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The Financial Services Authority (FSA) is planning to increase restrictions on non-Ucits retail schemes.
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MF Global in an attempt to grow its fixed income business has made a number of hires in the UK and US.
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Royal Bank of Scotland is nearing a deal to sell its asset management business.
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Turquoise, is looking for potential suitors for its business, Bloomberg reports. It has sent out sales documents to about 18 possible bidders.
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Scottish Widows Investment Partnership (SWIP), Franklin Templeton and Julius Baer are planning multi-asset launches.
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Julius Baer is working on a bid for ING Groep's private banking units in Asia and Europe as part of a strategy to reduce its dependency on European clients.
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July
As part of a thought leadership series, The Bank of New York Mellon Corp sponsored the latest of Global Investor's Editorial Forums, to discuss the state of the FX markets after the credit crisis of recent months. Editor Caroline Allen, who chaired the discussion, wrote this report.
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June
A wave of regulation following the initial impact of the global financial crisis has targeted the alternative investment sector, and hedge funds in particular. The industry is mobilising to influence and deflect some of the measures. Caroline Allen reports
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Nordic and Baltic markets prepare for rapid change, especially in the areas of asset servicing and fund administration
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May
Nordic asset managers have weathered the credit freeze relatively well, but nevertheless are facing a stiff challenge as they reshape their business models in readiness for the upturn, writes James Norris
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The recent, unprecedented events in the financial services sector have combined with international competition and more regulatory reforms to change the Nordic asset servicing landscape, writes James Norris
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The losses suffered by the Swedish state pension funds were bad but they reflect the losses on the global stock markets. For the AP-1 state fund, some painful measures will be needed to rebalance the books, writes James Norris
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Driven by regulatory initiatives such as Target2-Securities and a changing economic landscape, the European post-trade environment is undergoing some unprecedented changes, says Uwe Dreger, head of domestic custody services for Western Europe at Deutsche Bank.
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All markets have come under strain in the past year but in Germany, the crisis has resulted in more light than shade
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The need for a central counterparty (CCP) in the securities lending market has been a topic of conversation for the past 15 years, with nothing coming to pass. But over the past year, CCP initiatives have been popping up in Europe and the US. Craig MacDonald investigates why the industry is now finally ready for a CCP and how they all stack up.
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April
Turquoise, is looking for potential suitors for its business, Bloomberg reports. It has sent out sales documents to about 18 possible bidders.
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MF Global in an attempt to grow its fixed income business has made a number of hires in the UK and US.
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March