w/c 21 November
By Adam Cadle
News in brief, mandates and product launches from this week
Barings has announced the launch of the Baring India Fund. The primary investment universe of the fund will be Indian equities and equity-related securities of companies listed in India. This will account for at least 70 per cent of the Fund at any given point and it will have a relatively high concentration of between 30 and 50 holdings.
FTSE Group and TOBAM, a Paris-based asset manager, have announced the launch of a new family of 8 indices – the FTSE TOBAM Maximum Diversification Index Series. The series will help investors to avoid portfolio concentration and will provide institutional investors with the most diversified portfolio possible in any given stock universe across global and domestic markets.
State Street Corporation has announced that it has been appointed by global asset manager, AllianceBernstein, to provide investment operations outsourcing services covering more than $300 billion in client assets. State Street will provide trade settlement, portfolio administration, derivative operations, client reporting and performance measurement.
Societe Generale Securities Services has been appointed by Banco Cooperativo in Spain to provide independent valuation services for their structured products. It will offer securities services including clearing and settlement, custody and trustee services, asset services and fund distribution services.
Other stories you may find of interest:
Significant variations in European countries' reactions to global downturn
European countries' pension markets have experienced mixed reactions to the global crisis, although UK businesses are at a 'severe competitive disadvantage' in Europe due to weaknesses in private and state pension systems, says Aon Consulting
State Street to acquire Intesa Sanpaolo
State Street Corporation has announced that it is to acquire Intesa Sanpaolo's Securities Services (ISPSS) business in Italy and Luxembourg
Germans require education on pensions – Fidelity
Many Germans are clueless about the build-up of their pension, a new study by Fidelity International has shown. The investment company said that despite all the initiatives to improve people’s pensions knowledge, most employees neither know how high their pension will be nor are they familiar with the three pillar pension system
