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This article appears courtesy of Institutional Investor

This article appears courtesey of Institutional Investor

Independent consultants, a fixture of the defined benefit business but now an increasingly large part of the subadvisory market, are leaning toward recommending small boutique firms for subadvisory mandates.

EFG EUROBANK ERGASIAS S.A.: EFG Eurobank Sweeps Banking Awards EFG Eurobank's achievements and performance have been widely recognized as evidenced by the numerous international awards the bank has been receiving. The Banker magazine for the fourth time named EFG Euroban as the "Bank of the Year 2005" for Greece. For the third time, the Bank was selected by the internationally renowned Global Finance magazine as the "Best Bank in Greece for 2005". Banks in each country are judged across a range of criteria including last year's performance, as well as their reputation and management quality. As Mr. Giarraputo, the magazine's publisher, said "this distinction recognizes each bank's performance; irrespective of varying market conditions, what distinguishes the award winning bank is its ongoing commitment to satisfying its clients' needs". At the same time, Global Finance has selected EFG Eurobank as the "Best Consumer Internet Bank" as well as the "Best Corporate Internet Bank" in the Greek market. The rating criteria included the Bank’s strategy in providing e-services to its clients, its ability to attract new clients, the scope and quality of its products and services, as well as the design and functionality of its Web site. Furthermore, for a second consecutive year EFG has won the Global Custodian "Domestic Top Rated" distinction for its custodian services and the top "Commended" distinction for the quality of its services to foreign institutional investors. The annual rating criteria range from service excellence, staff expertise and flexible to user-friendly technology, as well as quality of service offered to the Custody Department clients. by Capital Link

This article appears courtesy of Institutional Investor

Two emerging fund trusts operated by subsidiaries of JPMorgan and F&C Asset Management are talking about merging their forces to produce what reportedly would be one of the largest funds in the sector, Reuters reports.

Clifford Asness, managing and founding principal of AQR Capital Management, believes hedge fund managers should reexamine the way lockup provisions are applied. An inherent problem with lockups is that a manager can earn money from a performance fee one year and then be down the next with investors locked in, said Asness.

This article appears courtesy of Institutional Investor

RBC Dain Rauscher launched a fee-based non-discretionary managed account program, dubbed RBC Advisor, last month at its annual symposium in St Louis, Minn. In the following weeks, product teams and managers will speak at various branches to describe the platform, part of the firm's Fund Advisory Service, said Ann Senne, recently named director of Investment Consulting Services.

This article appears courtesy of Institutional Investor

Light Green Advisors, a Seattle-based investment advisor to several socially responsible managed accounts portfolios, is planning a registered fund that follows the firm's environmentally sensitive perspective.

Mirant's bonds traded up 10 points on an upbeat view of the company's performance post-bankruptcy and speculation it could be an acquisition target.