It would be unfair to blame poor asset-management performance on the merger, however.

ECONOMIST: The travails of UBS

But MBf Finance apparently does not fulfill some of the other conditions of the central bank's CAMEL formula -- capital adequacy, asset quality, management efficiency, earnings performance and liquidity position.

CNN: TOUGH CHALLENGE

Paul Lavin of WestLB Mellon Asset Management has found a close correlation between the performance of hedge funds investing in shares and the breadth of the stockmarket.

ECONOMIST: Looking for growth stocks when there is not much growth

Purcell has been under pressure for months to boost the performance of Morgan Stanley's brokerage, asset management, and card services units, not to mention its lagging stock price.

FORBES: Purcell Hangs On

It is common for these funds to charge a performance fee, based on the success they have pursuing their investment strategy, in addition to an asset-based management fee, based on the amount of money provided by investors.

FORBES: The Simple Truth about Hedge Funds