At a time when China is lurching from one financial scandal to another, both Northern Trust and Citigroup have won the first global custody mandates from a Chinese pension fund.

Asset managers have come under fire for the fees they charge for liability-driven (LDI) and alternative investments.

A significant “first step” towards an integrated, efficient and transparent post-trading market in the European Union has been taken with the introduction of a new ‘code of conduct’ for clearing and settlement.

The first Spanish-domiciled hedge fund launches are imminent, according to Carlos Arenillas, vice president of the Spanish securities market regulator, the Comisión Nacional del Mercado de Valores (CNMV).

Gabriel Herrera, head of EMEA at UBS Global Asset Management, is a man who likes to stick to his guns and believes that the pro-cyclical nature of the asset management industry is affecting long-term prospects and merely repeating past mistakes. Henry Smith reports.

CalPERS’ new CIO, Russell Read, is relishing an ‘intriguing, pure investment position’ and is looking to adapt their portfolio for a changing market to include natural resources, commodities, healthcare and infrastructure. Paula Garrido reports.

Despite strong economic growth so far in 2006, a number of business surveys and economic forecasters are looking for a slowdown in the major eurozone economies in 2007.

With US markets trading at near-record levels, investors are wondering whether the recent strong run can continue, despite evidence of a slowing economy. From an economic viewpoint, we believe that there is certainly scope for equities to make further progress.

The 2006 Mexican presidential elections will long be remembered for the closeness of the vote, the bitterness of the post election legal fight, and the mutual antagonism of the candidates.

Overall, we remain positive on Asia given solid economic growth prospects and valuations that remain attractive relative to those of developed markets. With global growth slowing however, Asia is no longer a one-way bet.

The rush towards the Japanese yen could see a blow up, as the prospects for the currency look bleak, writes Neil Mellor.

As transition management grows in popularity, Jennyfer Stanley analyses best practice in the area and offers five guiding principles for those wishing to enter the industry.

As the need for matching liabilities falls increasingly at the feet of investors, liability-driven investment has blossomed. However, some pension funds are dragging their heels, writes Paula Garrido.

In August, ING Investment Management introduced its new Fiducional Investments and Services Department. The aim is to integrate its fiduciary services for institutional investors into one comprehensive package.

Steve Aukett, senior product specialist at Insight Investment, explains the use of swaps within liability-driven investment and how they are an attractive alternative to bonds.

Wojtek Nabialek reveals various approaches to generating alpha, and how to understand its dynamic behaviour.

In the past, portable alpha has been more talked about than implemented, but now it seems that practical ways of turning this theory into products are finally emerging. Hugo Greenhalgh reports.

How can portable alpha strategies improve risk-adjusted returns? Can overlays limit volatility in a high-risk equity portfolio? Francesco Sandrini head of financial engineering and Dermot Ryan, LDI analyst at Pioneer Investments answer the questions.

The recent exponential growth in CDS has seen many get nervous at the volume of the industry. Christine Senior reports on the advantages of the asset class, and reasons for the sudden growth.

Jamie Grant, investment manager at AXA Investment Managers, offers an insight into the exponential growth of credit derivatives, their advantages over cash bonds and what the future holds for the asset class.

Transition management is becoming increasingly popular and sophisticated, but the so are client demands. Our panel of experts discuss the prospects for the industry going forward, including competition, improved services and costs .

Paula Garrido: For some the involvement of investment banks in transition management shows this can be a very profitable business. Paul, as a pension fund, are you concerned about how much money transition managers are making by managing your transitions?

Roger Aitken questions whether all the stock exchange consolidation in the US could lead to a few mega-monopolies or spur healthy competition which could echo across to Europe.

The influx of trading technology has led many to question the role of the trader. Will they be replaced by quick, super-efficient machines, or will the market always demand the human touch? Roger Aitken weighs up the arguments.

Following a KPMG report highlighting the UK’s “failure” to attract new investment due to an unfavourable tax regime compared with other jurisdictions like Luxembourg, an ex-Schroders head of fund administration predicts “tens of thousands” of job losses in the sector over the next five years.

A burgeoning institutional interest in hedge funds has in turn spawned a number of requirements for transparency. But will clients pay for better quality administration? Ceri Jones reports.

Many hedge fund administrators have gathered in Ireland, and there is an increasing polarisation between the big and the small players, who have to become more specialised. Ceri Jones reports.

Luxembourg has always lagged behind Dublin in terms of alternative investment administration due to its typical focus on traditional and long-only products. However, the launch of Sifs next year has many anticipating some real competition to the Irish capital’s supremacy. Hugo Greenhalgh reports.

John R. Siena, director of European legal operations and Sean M. Tuffy, European accounting product manager, Brown Brothers Harriman unravel the complex nature of a transparent pooling product.

If multi-national pension pooling is to fulfil its potential, custodians' solutions must provide the high level of transparency that clients require if they are to meet their own fiduciary duties, writes Kerry Ann White.

CME and Reuters have combined to produce another foreign exchange platform, but with the market on an upward curve, are they merely jumping on the band wagon? Roger Aitken reports.