Having received all the regulatory approvals needed to create their combined asset management arm, Crédit Agricole and Société Générale are incorporating Amundi on 31 December 2009 and starting operations on 1 January 2010.
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State Street has signed an acquisition agreement with Intesa Sanpaolo, one of Italy’s premier banking groups, to acquire its securities services business, ISPSS, for approximately EUR1.28bn (USD1.87bn) in cash at closing.
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Calamos Asset Management has named Nick Calamos president of investments and co-chief investment officer and Jim Boyne president of distribution and operations.
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Triple A Partners and Hatfield Advisors have entered into a joint venture agreement to develop their combined fund distributions business on a global basis.
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Despite fears about Dubai’s debt crisis triggering choppy conditions in equity markets toward the end of November, managed futures managers benefited from long equity and commodity-trading exposure and posted the second strongest monthly gain of the current year after May’s.
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The November edition of Hedgebay Trading’s monthly index has posited that if 2010 is to see the hedge fund market return to its previous performance levels, then the reduction of underperforming, illiquid assets must be hedge fund investors’ primary concern.
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State Street Global Advisors, the investment management arm of State Street Corporation, has been appointed by Flintshire County Council to run a GBP20m mandate on behalf of the Clwyd Pension Fund.
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HM Revenue & Customs has clarified what constitutes a bank following its announcement on 9 December that it will be implementing a bank payroll tax.
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Greenwich Loan Income Fund has acquired a senior secured corporate loan from T2 Income Fund CLO I, an affiliate of the company which is consolidated for financial reporting purposes.
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Barclays Capital, Deutsche Bank and J.P. Morgan have emerged to dominate the post-crisis fixed-income trading business in Europe, according to a study by Greenwich Associates.
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Altus Resource Capital, a Guernsey registered closed-ended investment company, has completed the placing of its shares with an aggregate value of approximately GBP14.66m.
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Hedge funds rebounded in November, putting them on track to post their best annual performance since inception of the Credit Suisse/Tremont Hedge Fund Index in January 1994.
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The Irish Funds Industry Association has welcomed new legislation passed by Seanad Éireann, the upper house of the Irish parliament, which will enable investment funds to re-domicile to Ireland simply and efficiently.
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Liberty All-Star Equity Fund has appointed Cornerstone Capital Management as one of the fund's five investment managers, replacing Chase Investment Counsel.
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