Global

THE NETHERLANDS - Six mid-sized Dutch corporate funds have formed an alliance which will see them use a communal system for their asset management, custodian, administration and IT requirements. The funds represent a combined membership of 60,000 and...

KENYA: The KSH900m (£8m) Kenya Commercial Bank Pension Fund has appointed Old Mutual Asset Managers (OMAM) as its investment manager.

THE NETHERLANDS - Robeco Alternative Investments has issued an initial tranche of EUR50m following the introduction of its new Robeco Protected Absolute Return Note (Robeco PAR Note).

GLOBAL - The CSFB/Tremont Hedge fund index posted a 0.4% rise for October, with managed futures the top performer for the second successive month.

GLOBAL - US-based Prudential Asset Management and Everbright Securities in China have signed a joint venture agreement to establish an asset management firm in Shanghai.

GLOBAL - Mellon Financial Corporation has reshuffled some of its key management positions in a bid to leverage European activities, said the firm.

GLOBAL - Pioneer Investments has appointed Dominik Kremer as general manager for Pioneer Investment's German office in Munich. Kremer joins from Fidelity Investment Services where he was director of sales and marketing.

UK - Pension schemes have been warned against following Boots and make a wholesale move into bonds.

US - John Casey, chairman of US consultant Barra Strategic Consulting Group, warned fund managers that he expects to see massive job losses in the industry within the next three to five years.  

GLOBAL - Mellon Global Alternative Investments (MGAI) has introduced the Mellon Nippon Absolute Fund, a Japanese fund of hedge funds.