GLOBAL - Markets across the globe have fallen further this morning after a rout on major indices yesterday sparked fears of another recession.

The low footprint that hedge funds have in most capital markets means overall they pose a low systemic risk, the Financial Services Authority says.

GERMANY - Bayerische Versorgungskammer, Germany's largest public pension fund, has appointed F&C Investments to provide shareholder engagement services for its equities and bond holdings.

EUROPE: Announcing a haircut on Greek bond holdings would help restore a positive mood to bond markets, which have largely priced in such a move, said DWS Investments' CIO Asoka Wöhrmann.

GLOBAL - More new hedge funds launched in the first quarter of 2011 than any time since 2007, fuelled by a tailwind of industry assets breaching $2trn for the first time, research shows.

London hedge fund CQS is delaying planned soft closure for its flagship ABS portfolio to allow prospective pension scheme investors already conducting due diligence on the fund to complete their analysis.

UK - London hedge fund CQS is delaying planned soft closure for its flagship ABS portfolio to allow prospective pension scheme investors already conducting due diligence on the fund to complete their analysis.

EUROPE - Pension funds could once again retract from securities lending if they are included in European proposals which would tag lenders as ‘short sellers', according to the trade body for securities lenders.

GLOBAL - Some investors locked into hedge funds in the financial crisis may not have redemptions satisfied fully until 2015, according to officials at market intermediary Tullett Prebon.

US - Institutional fund of hedge funds manager Permal has announced its second senior appointment in as many months, hiring Zhiwu Chen, professor of finance at Yale University, as a consulting chief adviser.