Global

GLOBAL - Hedge fund investing remains a risky bet as long as market volatility and inflation persists, according to PricewaterhouseCoopers' (PWC) partner John Shuttleworth.

GLOBAL - Australian financial services firm AMP has cut 85 jobs in its fund management arm, Henderson Global Investors (HGI).

GLOBAL - Hedge fund investment house Tremont Advisers has teamed up with US financial analytics and tech company RiskMetrics Group to develop Web-based risk reporting for hedge fund managers and investors.

THE NETHERLANDS - ING Real Estate - the property investment arm of ING Group - is to make a EUR261m bid for an 80% stake in Spanish real estate company, Filo.

GLOBAL - Henderson Global Investors, a division of AMP, reported institutional net cash flows of A$1.7bn ($861.8m), a 15% increase on Q3, 2000.

GLOBAL - RBC Global Services, Institutional & Investor Services - a subsidiary of Royal Trust - is to become a concentrator for the Global Straight-Through Processing (GSTP) utility.

THE NETHERLANDS - Heerlen-based pension giant ABP has hired a senior portfolio manager to oversee its fledgling hedge fund investments.

GLOBAL - Global index group FTSE has launched a new index, the FTSE techMARK mediscience, designed to reflect the market performance of growth companies listed on the London Stock Exchange's (LSE) new market, techMARK mediscience.

GLOBAL - SEI Investments has appointed Marrianne Gruver as director of its institutional team.

THE NETHERLANDS - Heerlen-headquartered ABP is to introduce a long/short market neutral strategy into its portfolio, developed by Advanced Investment Technology (AIT), a unit of State Street Global Alliance (SSGA).