Financial Times Mandate articles from July 2002

Financial Times Mandate archives from July 2002

News: Lacera picks emerging firms for property fund.(Los Angeles County Employees' Retirement Association)
July 1, 2002... The Los Angeles County Employees' Retirement Association (Lacera) has hired two "emerging" managers to run $100m of its $3.2bn property portfolio. Lacera is the latest major scheme to follow the concept of supporting "new kids on the...

News: Shadow cast over European regulation.(Brief Article)
July 1, 2002... Two of Europe's leading fund servicing centres have been harshly criticised by a UK hedge fund consultant. Sophie van Straelen, managing director of Asterias, said that, despite its success in capturing the lion's share of new European...

News: Five share E100m in Italy.(Fopen, Italian pension fund for energy workers)(Brief Article)
July 1, 2002... Fopen, the Italian pension fund for energy workers, has appointed five managers to run a total of E100m. Nextra Investment Management, formerly known as Intesa IM, Generali Asset Management and Axa won E22m each, while San Paolo IMI and...

Editorial: Dublin's edge rests on regulatory rethink.(hedge funds)
July 1, 2002... Dublin may be riding high in the European hedge funds arena but rising demand for regulated alternative investments may threaten its competitive position in the long run. As institutional investors clamour for more transparency, liquidity...

News: In brief - BoNY gains foothold in clearing services.(Bank of New York)(Brief Article)
July 1, 2002... The Bank of New York (BoNY) has broken into the private client stockbroker and retail clearing service market by acquiring the back office of Tilney Investment Management for an undisclosed sum. BNY Securities will provide clearing services to...

News: In brief - Strapp snaps up MD post at Rothschild.(Guy Stsrapp)(Rothschild Australia Asset Management)(Brief Article)
July 1, 2002... Guy Strapp, a former managing director of JPMorgan Investment Management in Australia, has been appointed managing director of investments at Rothschild Australia Asset Management, which was recently bought by Westpac Banking Corporation. ...

News: In brief - Bisys wins Old National outsourcing contract.(Brief Article)
July 1, 2002... Old National Signature Group, an Indiana, US-based unit of bank holding company Old National Bancorp, has outsourced administration, accounting, transfer agency and distribution services for its new mutual fund family to Bisys. The funds...

News: In brief - Survey finds more DB schemes are closing.(defined benefits)(Brief Article)
July 1, 2002... One in five UK defined benefit (DB) schemes is now closed to new members, with more closures on the way. Research firms Pension Fund Partnership and MRM Projects surveyed 269 UK pension schemes and found that, while 20 per cent of DB schemes...

News: In brief - LFPA brings in Moon for board advice.(London Pension Fund Advisory Board)(Brief Article)
July 1, 2002... The London Pension Fund Advisory Board (LPFA) has appointed Peter Moon, chief investment officer of the UK's Universities Superannuation Scheme, to advise its board. Mr Moon will join David Rough, appointed in April, in supplementing the...

News: In brief - AP7 clarification.(Swedish national pension fund)
July 1, 2002... Swedish national pension fund AP7 has invested 8 per cent of its $2.5bn assets with alternatives houses Geneva-based EIM and New York-based K2.

News: In brief - PWM.(Professional Wealth Management)(Brief Article)
July 1, 2002... The latest issue of Professional Wealth Management is out now, featuring in- depth coverage of the "World Wealth Report 2002", a profile of JPMorgan's private bank and an exclusive survey into the thought processes of Europe's third-party...

News: Schroder quits Australian bonds.(Schroder Investment Management Ltd.)(Brief Article)
July 1, 2002... Schroder Investment Management is exiting the fixed interest business in Australia, reports Tim Blue from Sydney. It will pass the management of its remaining bonds portfolios to either a manager chosen by the client or a firm it nominates...

News: Exit penalties land IIU with investor lawsuits.(International Investment and Underwriting Ltd.)(Brief Article)
July 1, 2002... JPMorgan and Deutsche Bank have each filed a lawsuit against International Investment and Underwriting (IIU) following the sacking of hedge fund manager David Morrison. After Mr Morrison's dismissal, Deutsche and JPMorgan pulled their $30m...

News: Dresdner wins to detriment of Cazenove.(Dresdner RCM Global Investors)(Cazenove Investment Fund Management.)(Brief Article)
July 1, 2002... Dresdner RCM Global Investors has snatched a GBP72m (E112m) balanced mandate from Cazenove Investment Fund Management. The mandate from University College London is split equally between fixed income and equities. It will be managed by...

News: Campaigns push boardroom gravy train towards buffers.(United Kingdom National Association of Pension Funds)(International Corporate Governance Network (ICGN))(Brief Article)
July 1, 2002... Boardroom fat-cats may be forced to trim their bulging pay packets if the UK's National Association of Pension Funds (NAPF) and the International Corporate Governance Network (ICGN) get their way. Amid heightened public awareness of the...

News: BIAM sees Iridian as ticket to US.(Bank of Ireland Asset Management)(Iridian Asset Management)(Brief Article)
July 1, 2002... Bank of Ireland Asset Management (BIAM) acquired Iridian as an insurance policy to guarantee survival in the US market, according to Denis Curran, international director and president of BIAM. He revealed that, until now, BIAM had been...

Comment and Analysis: Europe still has a lot to offer US investors.
July 1, 2002... US confidence in European stocks could do with a boost, as doubts begin to creep in about the performance implications of diversifying away from domestic markets. Yet there are numerous reasons for the Americans to remain friends with Europe....

News: Cash fund for alternative investments on the Horizon.(Horizon Cash Management Inc.)(Brief Article)
July 1, 2002... Horizon Cash Management is poised to launch a new product for funds of funds in September. The product will be tailor made to help funds of hedge funds and funds of private equity funds with their cash management. Diane Mix, president and...

News: Bridgewater makes foray into Japan.(Bridgewater Associates Inc. distribution agreement with UFJ Trust Bank)(Brief Article)
July 1, 2002... Global currency and bond specialist Bridgewater Associates has entered the Japanese market through a distribution agreement with UFJ Trust Bank - the recent consolidation of Toyo, Sanwa and Tokai banking and trust entities. Bridgewater...

News: Morley ousts Newton from e1.4bn RBS brief.(Royal Bank of Scotland terminates agreement with -Newton Investment Management; new contract with Morley Fund Management)(Brief Article)
July 1, 2002... The Royal Bank of Scotland (RBS) has terminated its former subsidiary, Newton Investment Management, from a GBP860m (E1.4bn) balanced mandate. It has handed the contract to manage the assets of its bancassurance funds to Morley Fund Management....

News: In brief - Scottish Widows expands Far East expertise.(Scottish Widows Investment Partnership promotes Jan de Bruijn)(Brief Article)
July 1, 2002... Scottish Widows Investment Partnership (SWIP) has appointed Jan de Bruijn as a senior fund manager for Asia and the emerging markets. Mr de Bruijn was previously a senior portfolio manager in emerging Asian markets at Shell Pensioenfonds Beheer...

News: BoNY wins custody at Hansard.(Bank of New York contract from Hansard Financial)(Brief Article)
July 1, 2002... The Bank of New York (BoNY) has scooped a new $450m custody and administration contract from Hansard Financial. Hansard, based in the Isle of Man and Dublin, has chosen the bank's fund servicing arm, BoNY European Fund Services to provide...

News: UIA chooses Morley for oe90m SRI-based portfolio.(Morley Fund Management; socially responsible investment)(Brief Article)
July 1, 2002... Trade union insurer UIA has put all its general insurance and life funds into a socially responsible investment (SRI) portfolio which excludes 15 per cent of companies. It has appointed Morley Fund Management to run the GBP90m portfolio....

News: Irish banks join forces on IT front.(AIB Group; Bank of Ireland )(Brief Article)
July 1, 2002... AIB Group and Bank of Ireland (BoI) are poised to form a 50-50 joint venture to develop their customer IT services. Once the European Commission gives the partnership the go-ahead, it is expected to take 18 months to complete the project....

News: Conventum short-lists Invesco for e10m Asian equity brief.(Conventum Asset Management )(Brief Article)
July 1, 2002... In the Nordic region, T Rowe Price has won a raft of new mandates worth a total of E411m and Conventum Asset Management has short-listed managers for at least 10 briefs. Conventum, the E10bn Finnish fund of fund manager, is considering...

News: S&P plans US wrapper index.(depository receipts )(Brief Article)
July 1, 2002... Standard & Poor's (S&P) has revealed plans to launch an index of American depository receipts (ADRs). Bob Shakotko, the managing director of the firm's index services, said the move was in response to investor demand for ADRs, which are...

How the deal was won: Debt evidence persuades police.(Houston Police Officers' Pension System )
July 1, 2002... Ashmore Investment Management has won $60m from the Houston Police Officers' Pension System on the back of renewed interest in its particular specialism: emerging market debt. Falling equity markets and the switch to fixed income has led to...

News: Scottish Investment rejects tracker plans from Hermes and Axa.(Hermes Focus Asset Management; Axa Investment Management)(Brief Article)
July 1, 2002... Directors of the GBP900m Scottish Investment Trust (SIT) have thrown out a proposal from its biggest shareholders to create a tracker fund within its structure. Hermes Focus Asset Management and Axa Investment Management, which between...

News: BGI's Ascent products win early success.(Barclays Global Investors )(Brief Article)
July 1, 2002... Barclays Global Investors (BGI) has raised GBP177m for the two new actively- managed corporate bond funds it launched early last month. The Dublin-domiciled Ascent UK All Stocks Corporate Bond fund and the Ascent UK Long Corporate Bond fund...

News: Rivals Mellon and Janus land distribution deals with BNL.(Mellon Global Investments; Janus International)
July 1, 2002... Rivals Mellon Global Investments and Janus International have both signed distribution agreements with BNL Investimenti in Italy. The investment arm of BNL banking group, one of Italy's top five banks, will offer its clients Mellon's Global...

News: Goshawk's GHK enters hedge arena.(GHK Asset Management)(Brief Article)
July 1, 2002... London's GHK Asset Management has entered the hedge fund industry with the creation of a long/short equity fund. The fund was launched last week by GHK, a subsidiary created by Goshawk Insurance Holdings at the end of last year. The...

News: Riverview takeover gives Gartmore fund of funds range.(Riverview International; Gartmore Investment Management)(Brief Article)
July 1, 2002... Gartmore Investment Management has acquired the New Jersey-based fund of hedge fund manager Riverview International, which manages $350m. The business will be retitled Gartmore Riverview but will operate largely independently from the main...

News: Sarasin widens SRI territory to UK and targets survivors of turbulent markets.(Sarasin Investment Management; socially responsible funds)(Brief Article)
July 1, 2002... Switzerland's Sarasin Investment Management, a specialist in thematic and sustainability investing, is rolling out two of its socially responsible funds to the UK for the first time. The fund is targeting growth of 30 per cent a year for...

News: Shropshire puts e78m in new vehicles.(Shropshire County Council pension fund)(Brief Article)
July 1, 2002... The pension fund of Shropshire County Council, a UK municipality, has moved into funds of funds and emerging markets equities. Following an asset liability study by Frank Russell, the scheme offered a E47m emerging markets brief to F&C and...

Custody, Settlement and Technology News: Citibank win is a blow to JPMorgan.
July 1, 2002... Credit Suisse Asset Management (CSAM) UK has terminated JPMorgan's contract to service GBP1.2bn in assets gained from the takeover of SLC Asset Management. The mandate has been passed on to JPMorgan's rival Citibank. A senior insider at...

Custody, Settlement and Technology News: RBC replaces Deutsche with Standard in India.(RBC Global Services; Deutsche Bank; Standard Chartered )(Brief Article)
July 1, 2002... Deutsche Bank has been dropped in favour of Standard Chartered as provider of custody services in India for RBC Global Services. RBC, formerly known as Royal Trust Corporation of Canada, chose Standard Chartered primarily because its...

Custody, Settlement and Technology News: In brief - Dexia's Butterfield buy gives it Hong Kong base.(Brief Article)
July 1, 2002... Dexia Group has established a base in Hong Kong with the acquisition of Bank of Butterfield's operations, which have $3bn under custody. The group has bought 80 per cent of NT Butterfield Holdings, which it will rebrand under the Dexia...

Custody, Settlement and Technology News: In brief - JPMorgan leads the way in automated FX pricing.(Brief Article)
July 1, 2002... JPMorgan has become the first bank to provide automated pricing on the FXtrades service from Currenex, the online global currency exchange. The deal will allow the bank to offer its clients rapid price delivery and the companies' mutual clients...

Custody, Settlement and Technology News: In brief - Cor chases wider product range with Bita Plus.(Brief Article)
July 1, 2002... UK fund management software firm Cor Financial Solutions has bought Bita Plus Consultants for E3.6m in a bid to expand its range of products. Cor believes the risk management systems that London-based Bita creates for financial markets...

News Analysis: Bank of Ireland Asset Management - Irish value house takes US partner.
July 1, 2002... Bank of Ireland Asset Management's (BIAM) luck is in. The performance of its flagship global equity product has been beating the benchmark convincingly for the past 10 years, winning it $27bn from US clients. But the firm felt nervous about...

People News: Janus co-founder quits chief post.(Brief Article)
July 1, 2002... Tom Bailey, co-founder of the troubled US mutual fund group Janus, has quit as chief executive, 33 years after setting up the business. His resignation comes amid investor dissatisfaction over billions of dollars of losses in the company's...

People News: Merrill strengthens global equity team.(Brief Article)
July 1, 2002... Merrill Lynch Investment Managers has appointed a new fund manager, Peter Abbott, to build up its global equity team's capital goods expertise and increase its research resources. Mr Abbott joins from Newton Investment Management, where he...

People News: RSA suffers fifth loss from London.(Brief Article)
July 1, 2002... David Berry is the fifth in a string of senior fund managers to leave Royal & SunAlliance's London office for Edinburgh. The former income fund manager will join Martin Currie as an assistant director. He will report to Tom Maxwell, who...

People News: Credit Suisse takes Schroder manager.(Brief Article)
July 1, 2002... Credit Suisse Asset Management has poached portfolio manager Richard Colwell from Schroder Investment Management. He will join the UK equity team and focus on institutional and specialist mandates as part of a drive to expand in those...

Portfolio: Asset Allocation - Europe - AP7 strikes deal for ethical alternatives.
July 1, 2002... US fund of hedge funds K2 has returned 20 per cent a year since it was set up in 1995. The New York-based operation attributes its success to having a management team of pedigree former money managers rather than administrators. It...

Portfolio: Asset Allocation - Asia-Pacific - Deutsche's active bonds attract St George.(St George Insurance of Singapore)
July 1, 2002... No-one knows better than Deutsche Asset Management in Australia that virtue can have its rewards. Deutsche has just picked up a A$58m (E34m) fixed interest mandate from St George Insurance in Singapore. Deutsche offered an active bond...

Portfolio: Asset Allocation - Americas - Fixed income style sways ACA choice.
July 1, 2002... Stephens Capital Management (SCM) weighs up potential investments in terms of the people at a firm rather than in terms of the company itself. The Arkansas-based operation has GBP2bn on the books in equities and bonds. It was the firm's fixed...

Portfolio: Market Analysis - View from Europe - Weak dollar raises attraction of Euro-based bonds.
July 1, 2002... The three key developments for fixed income investors in Central and Eastern Europe in the past month were the strengthening of the euro, the failing health of Turkish prime minister Bulent Ecevit and the Bush-Putin summit. The strength of...

Portfolio: Market Analysis - View from the Americas - Long-term prospects improve south of US border.
July 1, 2002... There is evidence of an economic recovery in the US and the combined Organisation for Economic Co-operation and Development (OECD) lead indicator is at its highest level since 1994. But North and South American stock markets have fallen in...

Portfolio: Market Analysis - View from Asia-Pacific - Asian equities likely to benefit from global growth.
July 1, 2002... One of the biggest positives for Asian equities going into this downturn is the health of corporate Asia's balance sheet and the dramatic improvement in corporate cash flows in the past few years. A consequence of the Asian crisis in 1998...

Mandate Research: Cash Management - Money market funds - Coming off the back burner.
July 1, 2002... The fund management industry is finally waking up to cash as an asset class, says Marc Doman, managing director of Aim Global, the investment management firm. Traditionally, the fund management industry has invested in equities and fixed income...

Mandate Research: Cash Management - Specialist players - Giving idle cash a proper work-out.
July 1, 2002... Many large pension funds have several fund managers, each one providing a specific type of investment expertise, such as European equity or global fixed income. When any of these fund managers have cash in their portfolio, it is usually just...

Mandate Research: Cash Management - Currency overlay - Exchange patterns undermine academic random walk theory.
July 1, 2002... Technical analysis would never have gained any advocates if foreign exchange prices had followed a random walk, as academics often argue. The random walk theory is based on a coin-tossing model: it predicts that there is a 50 per cent...

Mandate Research: European fund services - Back-office support - Fund houses focus on distribution.
July 1, 2002... Despite setbacks and a recent lull, outsourcing continues to be identified as the most significant issue that the European fund management industry faces. The challenge of investing the required funds into technology to enable more efficient...

Mandate Research: European fund services - Back-office support - Big names reluctant to bang outsourcing drum.
July 1, 2002... "Five years ago in Europe, the outsourcing services offered were fragmented. You could not find a single source of insourcing for all of your back office requirements," says Philippe Seyll, managing director at The Bank of New York (BoNY) in...

Mandate Research: European fund services - Back-office support - Third-party players seek ETFs.
July 1, 2002... As fund management companies continue to seek a competitive edge, they are increasingly looking at investment vehicles such as hedge funds and exchange- traded funds (ETFs), according to Charlie Eppinger, chief executive of Dublin-based...

Mandate Research: European fund services - Towards cost efficiency.
July 1, 2002... The progress made by Clearstream in extending the reach of its Vestima straight-through processing (STP) solution for investment fund processing has been underlined by the new additions to the roster of users in 2002. In the final week of...

Mandate Research: European fund services - Let go of capability not responsibility.
July 1, 2002... The securities industry is in a state of flux as it faces new investment dynamics and market initiatives. Yet, at this critical juncture, managers' needs in terms of middle and back office technologies, skills and costs are too uncertain. That...

Mandate Research: European fund services - Playing the waiting game.
July 1, 2002... The funds industry in Europe stands poised for exceptional growth. Within reach is the leap to another plane of financial diversity. Steadying us is the support of previous success and the expectations of future gains. And yet, at present,...

Mandate Research: European fund services - Funds of funds join the party.
July 1, 2002... As one of the most eagerly anticipated provisions of the Ucits III directive, the addition of funds of funds to the programme has several potential benefits for investors in cross-border Ucits products. Specifically, Ucits III allows units...

Mandate Research: European fund services - Dublin - Dublin faces up to continental threat.
July 1, 2002... Dublin may be attracting the lion's share of new hedge fund business in Europe but it lacks credibility in the eyes of Europe's mutual fund regulators, according to Sophie van Straelen, managing director of Asterias, a London-based alternative...

Mandate Research: European fund services - Luxembourg - Clash in hedge fund cultures.
July 1, 2002... In allowing Dublin to get a head start in building up a hedge fund industry, Luxembourg has failed dismally to capitalise on its established reputation as Europe's chief retail funds centre, according to Sophie van Straelen, managing director...

Mandate Research: European fund services - Italy - Custody prize up for grabs.
July 1, 2002... Italian fund servicing providers are shaping up to win over a raft of new foreign entrants to retail and institutional markets as clients, in anticipation of the country's long-awaited proposals for pensions reform. "If they want long-term...

UBS wins E180m from UniSuper equity review.(Brief Article)
July 1, 2002... First State Investments' Australian business is the big loser in a A$3bn (E1.7bn) rejig of equity mandates at UniSuper, the country's third biggest superannuation fund. Colonial First State, which is soon to lose its star manager Greg...

BGI global chief steps down over health.(Brief Article)
July 1, 2002... The global chief executive of Barclays Global Investors (BGI), Patricia Dunn, plans to step down to focus on recovering from breast cancer and melanoma. In a resulting management shake-up, two members of the global management committee,...

SanPaolo keeps top Italian pension spot.(Brief Article)
July 1, 2002... SanPaolo IMI asset management has retained its dominance in Italy's occupational pension market, despite stiff competition from foreign entrants into the market, according to a report by Milan-based consultancy IAMA. With 17.5 per cent of...

Axa selects Citibank from "usual suspects".(Brief Article)
July 1, 2002... Axa Investment Managers has appointed Citibank Global Securities as depository bank and administrator for its E2.8bn Luxembourg range of funds. According to Robert Binney, managing director and head of European sales for Citibank Global...

Third-party animals: Let's hear it for the kids.(Brief Article)
July 1, 2002... Probing into the personal life of your hedge fund manager might sound to some people like taking due diligence a step too far. Not for the president of Chicago-based Horizon Cash Management, Diane Mix. She said it is worthwhile asking "the...

Third-party animals: Sailors opt for Sex in the City.(Merchant Navy pension plan appoints Sarah Sex, as communications director)(Brief Article)
July 1, 2002... More nautical goings on are revealed at the Merchant Navy's pensions administration division. The MNPA, which makes pensions expertise available to third parties, has always been hurt by allegations that their backroom services are seen as...

Third-party animals: Carlos teaches ball-skills to SSgA.(Brief Article)
July 1, 2002... Michael Schoeck, principal at State Street Global Investors (SSgA), has revealed the difficulties of life for Europeans in the US. The worst thing is that the Americans are virtually oblivious to World Cup football, he says. This is despite the...

Third-party animals: ... while Kanesh locates IT chief.(Brief Article)
July 1, 2002... On the other side of the Atlantic, however, SSgA's London team is much more into the festive football spirit. So much so that UK-based marketing director Kanesh Lakhani was surprised to turn on Sky Sports, only to see the absent head of his IT...

Conferences.(investment, financial planning)(Calendar)
July 1, 2002... - Hedge 2002, London, July 2-3 Contact: bookings@irc-conferences.com - Fund Forum International 2002, Rome, July 3-4 - Official publication: FT Mandate Contact: IBCI on +44 (0)20 7915 5103 or icbi_registration@ ibci.co.uk -...

News: Invesco loses $480m deal after Alaska turns frosty.(Invesco Capital Management, Alaska Permanent Fund Corp.)(Brief Article)(Statistical Data Included)
July 15, 2002... Californian funds house Tukman Capital Management has snatched a $480m mandate from Invesco Capital Management. Tukman beat off competition from Wellington Management and Barrow, Hanley, Mewhinney & Strauss to win the large-cap US value...

News: Michael Yuen, Hong Kong guru, dies at 50.(Brief Article)
July 15, 2002... Michael Yuen, a larger-than-life Hong Kong funds marketing guru, has died at the age of 50. Mr Yuen, who died of a heart attack while playing golf across the water in China, had "tremendous" presentation skills, according to close friend...

News: New Mexico goes for Pacific equity advice.(New Mexico State Investment Council )(Brief Article)
July 15, 2002... The $12bn New Mexico State Investment Council has awarded a mandate for private equity investment advice to Pacific Corporate Group. The mandate, worth $700m, is expected to run for four years. Greg Kulka, the portfolio manager of New...

News: Editorial - Industry top dogs lack lateral thinking.(Fund Forum International conference)(Brief Article)(Editorial)
July 15, 2002... Are asset managers capable of thinking "outside the box"? On evidence presented at the recent Fund Forum International conference in Rome, it would appear not. The ability to think laterally in a crisis can sort out the winners from the losers....

News: In brief - JPMorgan sells Spanish wing to BNP.(Brief Article)
July 15, 2002... JPMorgan Chase has sold its Spanish wealth management business to BNP Paribas for E750m. Chase Manhattan Ahorro and Chase Manhattan Prevision will be taken over by BNP Paribas. The acquisition is part of BNP Paribas' expansion strategy in...

News: In brief - PwC survey calls for fund manager changes.(PricewaterhouseCooper's 2002 Investment Management Survey)(Brief Article)
July 15, 2002... PricewaterhouseCooper's (PwC) "2002 Investment Management Survey", published this month, calls for institutional fund managers to make "fundamental transformations" to enable them to compete effectively in the market. The report states...

News: In brief - Henderson lures two Deutsche managers.(Henderson Global Investors)(Deutsche Asset Management)(Brief Article)
July 15, 2002... Henderson Global Investors has poached Harry Resis and Daniel Doyle from Deutsche AM's Scudder investment management unit. They have been hired to manage US credit portfolios out of Chicago. Mr Resis has been appointed director of US fixed...

News: In brief - BankPension awards Nordea e15m brief.(Nordea Private Equity)(Brief Article)
July 15, 2002... BankPension, the Danish financial industry fund, has appointed Nordea Private Equity to run a e15m fund of funds mandate. Lauge Sletting, the managing director of Nordea Private Equity, said the choice was due both to Nordea's presence in...

News: In brief - MLIM research puts substance over style.(Merrill Lynch Investment Managers )(Brief Article)
July 15, 2002... Merrill Lynch Investment Managers (MLIM) research says style investing is not enough to achieve long-term superior returns. According to Richard Turnill, head of asset allocation and economics at MLIM, correct sector and stock selection are the...

News: In brief - MSCI launches range of hedge fund indices.(Morgan Stanley Capital International Inc.)(Brief Article)
July 15, 2002... MSCI has launched more than 90 new hedge fund indices, all with monthly calculations. The indices will be organised according to the MSCI Hedge Fund Classification Standard, which classifies them according to the investment process of their...

News: In brief - MetallRente accuses Allianz of self-interest.(Brief Article)
July 15, 2002... MetallRente, the German electrical and metalworkers pension fund, has launched a blistering criticism of Allianz in Deutsche Pensionsnachrichten, sister publication to FT Mandate. MetallRente has accused Allianz, responsible for marketing...

News: In brief - Liquidity drives choice of convertibles brokers.(Brief Article)(Statistical Data Included)
July 15, 2002... Liquidity is the driving criteria for institutional investors in convertibles when choosing their brokers, according to a recent report by Greenwich Associates. Some 98 per cent of European institutions and 94 per cent of US institutions...