IN BRIEF - Financial Times Mandate

IN BRIEF

November 2008

European institutional investors have slowed diversification into other regions’ equity and bond markets, but are ready to continue in less volatile times, according to Greenwich Associates. Twenty per cent will allocate substantially more to other regions, while only 7 per cent plan to pull back; and nearly a third will significantly increase emerging markets exposure by 2011.

The £7.2bn West Midlands Pension Fund has awarded a $150m (€118m) mandate in Asian and Australasian private equity to Swiss fund of funds Capital Dynamics. Markus Ableitinger, head of investment management for Asia, said the region “has one of the world’s most favorable economic environments for private equity”.

Nearly $6000bn (€4725bn) was wiped off global equity markets in October, making it the worst month ever for investors, according to S&P Index Services. Iceland and Luxembourg are the worst performers over 6 months.

ETF Securities listed Europe’s first carbon ETC on the LSE, as well as 13 commodity-equity ETFs with a 0 per cent TER. ETFS Carbon tracks the ICE ECX EUA Futures Contract, currently the most liquid within the EU Emissions Trading Scheme.

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