Global

GLOBAL - Legg Mason saw its assets under management increase 6% during Q3 to reach a record $944.8bn as at end December 2006, of which $30.9bn was attributable to market appreciation.

GLOBAL - Buyout funds posted returns above 25% during the last year, as private equity managers in general boasted strong performances in a favourable market, Mercer Investment Consulting has found.

GLOBAL - Institutional pension fund assets in the 11 major markets more than doubled in the last ten years, and now constitute 81% of their GDP, Watson Wyatt has found.

UK - Oxfam and FairPensions have warned investing in pharmaceutical companies that try to block poor countries' access to affordable drugs might damage reputations and lead to falling returns.

GLOBAL - The Bank of New York's Asset Management and Private Banking division saw its assets under management increase US$26bn during 2006 to $131bn.

GLOBAL - Northern Trust Corporation announced record net income for 2006, boosted by a strong fourth quarter, and 13% growth in assets under management to US$697bn.

GLOBAL - State Street Global Advisors' (SSgA) revenue increased 26% in 2006 as assets under management reached a record US$1.7trn in the Q4 2006, compared to $1.4trn in the year-ago quarter.

GLOBAL - Russell Investment Group has responded to a shift in focus in the global investment market by taking its equity indexes global.

GLOBAL - Cara Williams has been named Mercer Investment Consulting‘s new global chief operating officer replacing Jim Hiner, who is retiring after 20 years with the firm.

GLOBAL - Managed pension funds assets grew globally by 9% from US$17trn by year-end 2004 to $18.6trn the same period in 2005.