Global

GLOBAL - The S&P Hedge Fund Index (S&P HFI) gained 0.97% for the month of September, and is now up 2.42% for the year.

MIDDLE EAST- Deutsche Asset Management has appointed Daniel Smaller as head of its Middle East, Northern Africa and Pakistan operations, based in Dubai, as part of its plan to tap into investment management opportunities in the region.

UK-The total cost of tax relief for pensions in the last tax year was £12.3 billion, marking a £1.5 billion or 14% rise from the previous year.

AUSTRIA - A senior member of the commission tasked with recommending reforms to Austria's state pension system has criticised the measures adopted by the government, claiming a notional defined contribution system would have been a preferable alternative....

GLOBAL - Andrew Skirton, global co-CEO, is to leave Barclays Global Investors in the coming month.

GLOBAL - Morgan Stanley Investment Management (MSIM) reported pre-tax income down 25% on the same quarter last year at US$162m.

GLOBAL - Pension assets in Japan more than doubled in 2004 while global pension assets soared to US$8.4trn, up 27% on the previous year.

GLOBAL - WestLB and Mellon Financial have agreed in principle to set up a jointly owned asset management business worth e40bn, of which e30bn is currently managed for German institutional clients.

GLOBAL - Events such as hurricane Katrina should serve to remind investors of the importance of commodities in the broader economy, according to experts.

GLOBAL - Joanna Munro (pictured), ex-head of UK institutional business at Axa Investment Managers has joined HSBC Investments as global CIO.