Global

GLOBAL - Over 30 international pension schemes have applied for authorisation under the Isle of Man's pensions legislation, a little over a year after it came into force.

GLOBAL - Baring Asset Management has launched a new Asian fund of hedge funds as investors continue to look East for opportunities.

GLOBAL - Average foreign exchange volume conducted by large corporate and financial institutions worldwide rose in 2002, albeit marginally.

GLOBAL - JPMorgan Investor Services has been selected by the Indiana Public Employees' Retirement Fund as global custodian for its US$8.8bn in combined assets covering seven qualified governmental pension plans and three other dedicated funds.

GLOBAL - Chris Tracey, investment director at JPMorgan Fleming Asset Management, believes that investors should look to Asia for long-term growth as market conditions continue to bite.

GLOBAL - Baring Asset Management's new pension fund investment product claims to be able to structure a portfolio to outperform in all economic conditions.

GLOBAL - Institutional investors have been raising allocations to emerging market debt over the last 18 months.

EUROPE - Zurich Financial Services is set to agree on the transfer of its insurance business in Latvia, Estonia and Lithuania to If P&C Insurance in a bid to refocus on key European markets.

GLOBAL - Mellon Global Investments has appointed Greg Brisk as chief operations officer.

GLOBAL - Hedge fund managers have significantly cut back their market exposure and expect to attract less money from investors this year.