Regions

GLOBAL - HSBC is to buy The Bank of Bermuda (BoB) for US$1.3bn in a bid by the former to get a foothold in the growing hedge fund administration sector.

Banks take 81% of funded market

EUROPE - Europe's fund industry is poised for a further wave of consolidation, but remains hampered by red tape and tax barriers.

EUROPE/US - Innovest Strategic Value Advisors, the US-based socially responsible investment specialists part-owned by Dutch pension fund giant ABP, is to provide research to activist UK fund manager, Hermes.

GLOBAL - Multi-manager boutique SEI Investments has shown an increase in earnings of 5% on third quarter 2002.

GLOBAL - Custodian and fund administrator Northern Trust has unveiled what it claims to be the first cross-border pooling solution for pension assets.

GLOBAL - Schroders is urging investors to take a second look at the Korean market which it believes offers long-term growth potential.

GLOBAL - Credit Suisse Asset Management is expanding its equity fund range with the simultaneous launch of a Greater China equity fund and an Asian Tigers Equity Fund.

GLOBAL - Gartmore has launched its first healthcare hedge fund due to open to investors from November 3.

GLOBAL - JPMorgan Fleming Asset Management has launched the latest in its range of liquidity solutions.