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“It’s nearly impossible to say which one you would choose when they go head to head in a pitch for passive mandates. They’re 10-ton gorillas that joust at the top.”

The procedure is an important step towards the cash settlement of the entire CDS market.

Brazil's hedge funds break through

Capital market practitioners have failed to develop the necessary credit skills to assess and absorb infrastructure risk. Now as Philip Moore reports, these shortcomings are being addressed.

James Montier of Dresdner Kleinwort Wasserstein, investors’ favourite equity strategist as ranked by the Thomson Extel Survey, has identified seven common mistakes in the investment process of fund managers everywhere. His analysis challenges some of the most deeply held beliefs.

“Around three years ago we read in Euromoney and other serious financial publications that we had a big problem with our banks. So we decided to do something about it... and that is why we have achieved what we have achieved in reforming the bank sector.”

UK Takeover Panel amends its rules on contracts for difference.

Although deals by large listed companies grab the headlines, BEE is having an impact at all levels of South African economic life. Despite its short investment horizon, some bankers see a natural fit between private equity and BEE.

According to Greenwich Associates, the average salary of a hedge fund manager last year was $280,000. The average annual bonus was $900,000.

As the festive season approaches, speculation is rife about who will get the lion’s share of this year’s bonus pool. But that’s nothing compared to the build-up to the Morgan Stanley staff pantomime. As the bank is again generously sponsoring the season at London’s Old Vic Theatre, where Kevin Spacey is artistic director, its employees also get the chance to tread the theatre’s hallowed boards. After the Old Vic production of pantomime ‘Aladdin’, Morgan Stanley takes over the theatre for one night in January to put on its own show.

Citigroup to take on $11 billion of risk in a single package.

Resolution becomes a new type of insurance participant in the Tier 1 hybrid insurance capital sector.