Global

GLOBAL - Continental Europe has doubled its commitment to hedge funds amid a worldwide surge in alternative investment, according to new research.

GLOBAL - Mellon Financial Corporation has acquired full ownership of the joint venture, Russell/Mellon, assuming the name Mellon Analytical Solutions (MAS).

GLOBAL - Total assets managed by the world's largest fund managers grew to US$48.8trn in 2004, an increase of 13% from 2003, according to new research from Watson Wyatt.

Global - ING has recommended that more Chinese companies introduce occupational pension plans for employees following the government awarded new corporate annuity licenses in early August, as part of its drive to develop its pension infrastructure.

U.S-The Department of Labor's Employee Benefits Security Administration (EBSA) has announced an extension of the deadline for filing Form 5500 and Form 5500 EZ annual report/returns due to damages from the tornado in Campbell County, Wyoming.

Despite huge expectations hedge funds have failed to make a significant impact on the German market since regulation allowed them to operate from within the country.

GLOBAL -SEB Merchant Banking has signed an agreement with Russell/Mellon for quantitative analysis of managers in its soon to be launched currency multi-manager, FX Map.

GLOBAL - The Bank of New York (BNY) has reached an agreement with Nordea which will see the two organisations provide global custody and other services to institutional clients in the Nordic and Baltic Sea areas.

GLOBAL - Watson Wyatt has lost two of its senior investment consultants to asset managers with the departure of Peter Eerdmans (pictured) and Peter Brackett.

GLOBAL - Watson Wyatt & Company Holdings recorded a net income of US$52.2m for fiscal year 2005, up $1.5m from fiscal 2004.