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  • The jumbo covered bond market was 10 years old this year. Its key characteristic has always been liquidity. But one analyst thinks this is no longer the case. Is the jumbo market in for a shock? Mark Brown finds out more.
  • Why CFOs should stop mistrusting hedge funds
  • Was there an ulterior motive for CMC Group’s decision to drop the deal4free brand?
  • In another sign of the rapid modernization of China’s capital markets, the Asian Development Bank and the International Finance Corporation, the private sector arm of the World Bank, became the first foreign institutions to issue renminbi-denominated bonds, known as panda issues.
  • State-owned Vneshtorgbank is set to continue its rapid expansion via a share swap to acquire several foreign banks owned by the Russian central bank, including London-based Moscow Narodny Bank and Paris-based Eurobank.
  • As with the recent elections of the heads of the IMF and the World Bank, Luis Alberto Moreno’s appointment as president of the Inter-American Development Bank proved controversial. The diplomat was the Bush administration’s firm favourite. Given that the US is the IDB’s single-biggest shareholder, with a 30% share of the vote, that made it a near certainty that Moreno would get the nod.
  • Mercury had great people and a great process. When Merrill Lynch paid £3 billion for Mercury in 1997, the former City Cinderella dominated asset management. But within a few years the name had gone, and so had many of Mercury's star managers. Angela Henshall analyses how the Mercury ethos has been exported to all segments of the industry, and why Mercury's acolytes are still calling all the shots.
  • Do hedge funds need strategic advice from investment bankers? And do banks need to set up new departments to offer it? Yes, reckon UBS and CSFB; no, say many of their competitors. Antony Currie reports on whether treating hedge funds like other corporate or private-equity clients is the latest development in the industry or just a fancy bit of spin.
  • The Philippines’ state pension schemes are in a parlous financial condition and in desperate need of reform, but the government has no money. A private sector solution is available and there is time to fix the problems, but only if politicians leave well alone. Chris Leahy reports.
  • This article appears courtesy of Institutional Investor.
  • This article appears courtesy of Institutional Investor.
  • This article appears courtesy of Institutional Investor