Only one in every 60 proposals by hedge funds to institutional investors results in investment, research has found.

Sterling has strengthened against the US dollar and euro on the back of today's emergency Budget, while gilts have also bounced.

UK - Sterling has strengthened against the US dollar and euro on the back of yesterday's emergency Budget, while gilts have also bounced.

US/UK - Financial legislation pending in the US threatens to overwhelm, emasculate, and undermine independence of the Securities & Exchange Commission, according to the watchdog's former chairman.

GLOBAL/UK - Institutional fund of hedge funds Fauchier Partners has won investor backing for a novel lock-in on one of its flagship products.

Institutional fund of hedge funds Fauchier Partners has won investor backing for a innovative lock-in on one of its flagship products.

GLOBAL - The number of hedge fund portfolios closing last quarter rose for the first time in over a year, with funds of hedge funds leading the way.

The number of hedge fund portfolios closing last quarter rose for the first time in over a year, with funds of hedge funds leading the way.

ASIA - Asian funds at Newton Investment Management are among the beneficiaries of actions being taken by three of Asia's largest sovereign wealth funds.

GLOBAL - Hedge fund practitioners have criticised research from the European School of Management & Technology that has voiced "serious concerns" about the risks their sector poses its investors.