Asia

JAPAN/US - Mellon Financial Corporation has become the latest firm to seize on the Far East's promising pensions market following a 50/50 joint venture with Japan's Shinsei Bank.

FRANCE/KOREA - BNP Paribas Asset Management has signed a 50/50 joint venture deal with Korea's Shinhan Financial Group to set up a new investment trust management company.

UK/IRELAND/JAPAN - The investment case for Japan remains a strong one despite recent criticism, according to Edinburgh-based investment manager Martin Currie.

EUROPE/ASIA - AXA Investment Managers has gone overweight in Asian, Japanese and Euroland stocks in anticipation of economic recovery later this year.

JAPAN - The Japanese equity market is showing signs of economic recovery after outperforming its global peers last month, according to one fund manager.

UK/ASIA PACIFIC - Northern Trust's multi-manager business in the UK has appointed Singapore-based APS Asset Management (APS) to manage the Pacific Basin ex-Japan segment of the Northern Trust Multi-Manager Pooled Funds (NTMF) Pacific Basin section.

JAPAN - State Street has been appointed as transition manager for the YEN98.3bn (US$772m) Japan Travel Bureau (JTB) pension fund, and has already completed a portfolio transition utilising its agency-based transition management program.

TAIWAN - The TWD515bn ($15bn) Labour Insurance Fund has outsourced its TWD14.8bn ($433m) domestic equity portfolio to six investment managers.

SINGAPORE - Northern Trust has been granted a Wholesale Banking License from the Singaporean authorities, allowing the firm to expand its operations in the region.

INDIA - The Insurance Regulatory and Development Authority (IRDA) of India has said the Government could consider permitting investment in foreign markets at a later stage to increase the range of instruments and to spread risk.