Asia

ASIA/PACIFIC - Deutsche Asset Management (DeAM) funds under management are set to increase from A$140bn to A$170bn following the recent deal with Zurich Scudder (Zurich).

KOREA - The Korean ministry of finance said it will invest KRW4.6trn ($3.55bn) in investment trust companies to boost their liquidity.

KOREA - Plans for a third major pension scheme in Korea will be realised by mid-2002 when the government introduces the Corporate Pension Fund, a private sector fund for Korean companies.

KOREA - Korean investment trust companies have suggested that the government takes funds from major parastatals to counter the effects of poor market conditions.

THAILAND - The $3bn Government Pension Fund (GPF) in Thailand is considering tendering for a consultant. Although the fund currently uses an in-house team of advisors, the management board is deciding whether a consultant will add value.

KOREA - Swiss fund manager Zurich Scudder Investments (ZSI) is expanding operations in Korea by launching a new unit, Zurich Scudder Investments Korea.

SINGAPORE - Corporate governance is becoming a major driver in Singapore's economic competitiveness, according to finance minister Richard Hu.

JAPAN - Citigroup has formed a new custody and administration joint venture with Nikko Securities, after acquiring a 50% stake in the Nikko subsidiary, Nikko Trust and Banking.

SINGAPORE - The CPF's decision to freeze employer pension contributions will help companies get through the current downturn in the economy and help them to reduce retrenchment of labour, according to consultants William M Mercer.

JAPAN - The fortunes of pension schemes' Japanese equity investments may be reversed by small gains in the long term growth rate, according to Threadneedle Investments.