Regions

GLOBAL - Cash and short-term funds have exceeded actively managed equity funds by fund size for the first time across the 30 largest cross-border fund managers, according to new research from Fitzrovia International.

GLOBAL - Hymans Robertson believes the international accounting rules for pensions, which are currently under review, will end up looking "very similar" to FRS17.

GLOBAL - The Islamic fund market place it set for a boost, outpacing overall global fund industry growth, according to new research from Cerulli Associates.

GLOBAL - Mellon HBV Alternative Strategies, part of the Mellon Financial Corporation, has added a global arbitrage investment discipline to its funds management capabilities.

EUROPE - Frits Bolkestein, the EC's internal market commissioner, has responded to recent criticisms of the proposed Pension Funds Directive.

UK/EU - Lawyers warn that the Inland Revenue must prepare for a backlash from pension schemes for failing to tax early retirement benefits in accordance with a landmark EU ruling.

GLOBAL - Stock markets will remain volatile until after the first anniversary of the terrorist attacks on the US, SG Asset Management predicts.

EUROPE - International Financial Data Services (IFDS) - a State Street and DST joint venture - has appointed Jim Clark as head of European business development.

EUROPE - New-York-based Dow Jones Indexes (DJI) has launched six new country-specific value and growth indices tracking France, Germany, Italy, the Netherlands, Sweden and UK.

EUROPE - Some of Europe's leading companies are overstating pension fund growth which is flattering pre-tax profits, according new data from Japanese bank Nomura.