Global

GLOBAL - While mainstream markets continue to baffle investors, institutions are increasingly turning to emerging market debt in the hope of healthier returns.

GLOBAL - Equities were the best performing asset class during November, figures from global indices provider MSCI show.

GLOBAL - Assets under management at State Street Global Advisors fell US$763bn (£474.6bn) during the fourth quarter - down 1.6% on the previous year.

GLOBAL - Healthy stocks in key European markets, including the UK, helped to boost returns for international equity managers in 2002.

GLOBAL - A positive year-end helped to salvage an otherwise tough 2002 for hedge funds.

GLOBAL - Market depreciation has wiped US$12bn (£7.5bn) off Goldman Sachs' assets under management worldwide.

GLOBAL - A staggering US$1.4trn was knocked off institutional pension fund assets last year, dragging values down to levels not seen since 1997.

GLOBAL - Assets of IMMFA (Institutional Money Market Funds Association) member funds rose to US$130.4bn in the last quarter of 2002.

GLOBAL - Baring Asset Management is pointing investors towards emerging markets and small/mid caps in order to eek out the best opportunities in 2003.

GLOBAL - Professional and financial services group Smith & Williamson and investment management firm NCL have merged to create one independent fund management, financial advisory and accounting group.