Regions

EUROPE - KAS Bank is the first Dutch bank to become active as general clearing member on Euronext Lisbon.

GLOBAL - Low levels of commissions paid by Australian investors are under threat through the pressures on brokers of operating in such a small market.

GLOBAL - The big financial news for 2003 included good economic and corporate growth in the US and Asia; the outperformance of small/medium cap stocks over large caps; and the strong returns in emerging market debt.

Europe - S&P has reacted angrily to a report by two academics criticising rating agencies' approach to German companies' pension liabilities.

EUROPE - Goldman Sachs Asset Management (Europe) has increased the number of its managing directors to 19.

NETHERLANDS - Stichting Pensioenfonds TNO, the e1.3bn Dutch pension fund, is planning to tender for private equity and high-yield managers later this year.

EUROPE - Man Group, the global provider of alternative investment products and futures broker, has raised $625m (E493m) through its most recent launch Man Multi-Strategy Series 6.

GLOBAL - The CSFB/Tremont Hedge Fund Index returned 1.08% for November 2003 and 13.23% year-to-date on the back of strong equity markets.

GLOBAL - Global equities are expected to continue their positive run in 2004 with industry experts expecting this sector to outperform bonds.

GLOBAL - Legal and General Investment Management (LGIM) has topped the 2003 European ranking of recorded pension fund mandate wins.