Global

GLOBAL - Managed futures specialists Mount Lucas Management (MLM) has launched its first two offshore hedge funds aimed at non-US institutional and private investors.

GLOBAL - The European Public Real Estate Association (EPRA), the National Association of Real Estate Investment Trusts (NAREIT) and Euronext have launched the first global real estate index.

US/GLOBAL - Financial services group State Street Corporation has poached S. Kelley MacDonald as the firm's new senior vice president and head of investor relations, reporting to chief financial officer Ronald L. O'Kelley. She joins State Street from...

ASIA/PACIFIC - Deutsche Asset Management (DeAM) funds under management are set to increase from A$140bn to A$170bn following the recent deal with Zurich Scudder (Zurich).

GLOBAL - The US will no longer be able to avoid a recession following the terrorist attacks on it but government and business spending to repair the damage will boost activity and turn GDP positive again in early 2002, according to Schroders.

GLOBAL - Property investment manager Jones Lang LaSalle (LaSalle) has issued its estimates of the impact of last Tuesday's tragedies on New York's real estate market, including the potential global impacts for investors.

UK - Hedge funds will have to wait another 18 months to win the trust of institutional investors such as pension funds, according to Zurich Scudder Investments.

GLOBAL - Institutional investors should exercise caution amid the influx of hedge funds and managers since not all offerings "are created equal", according to a study by financial giant UBS.

GLOBAL - Hedge fund tracker, the Credit Suisse First Boston Tremont Index (CSFB/Tremont) rose 0.9% according to preliminary data for August.

GLOBAL - The Dow slumped 5% in its first hour yesterday, and 7% before it closed, following one of the most anticipated openings in stock market history.