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Capital Markets Asset Management and Custody Banks

  • CHICAGO, April 28- BlackRock Inc Chief Executive Officer Larry Fink on Friday sounded another warning on the U.S. economy after the government reported anemic growth in the first quarter. "We're actually decelerating," Fink, whose firm is the world's biggest asset manager, said during a talk at the Morningstar Investment Conference in Chicago.

  • NEW YORK, April 28- Swiss bank UBS AG reported Friday that profits for its Wealth Management Americas business rose 8 percent over last year as higher operating income, client activity and cuts to recruiting offset higher employee pay doled out to top brokers. UBS Wealth Management Americas Chief Executive Tom Naratil's commitment to spend less on recruiting...

  • GENEVA— Swiss bank UBS has reported a near doubling in its first quarter net profit to 1.3 billion francs, as its wealth management and investment banking operations grew. CEO Sergio Ermotti said Friday that "our very strong results in the first quarter highlight the power and potential of our franchise." Shares in UBS AG in Zurich were up 3.3 percent to 17.20...

  • HARTFORD, Conn. _ Virtus Investment Partners Inc. on Friday reported first-quarter earnings of $13 million. On a per-share basis, the Hartford, Connecticut- based company said it had profit of $1.62. Keywords: Virtus Investment Partners, Earnings Report.

  • NEW YORK _ WisdomTree Investments Inc. on Friday reported first-quarter profit of $6.9 million. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 4 cents per share. Four analysts surveyed by Zacks expected $53.2 million.

  • Kentucky, so far, has come up short. Kentucky declined to explain why the discount kicked in later. To be sure, neither the setbacks nor the promised benefits would have radically changed Kentucky's dire condition as one of the nation's most underfunded public pension funds, with just over $16 billion in assets and a $18 billion funding shortfall.

  • ZURICH, April 28- A long-awaited turnaround in UBS's wealth management business helped Switzerland's biggest bank deliver its second-best start to a year since the financial crisis, although it struck a cautious tone for the year ahead. This was underscored by Chief Executive Sergio Ermotti in a telephone call with analysts and journalists.

  • *Q1 net profit 1.3 bln Sfr vs 919 mln Reuters poll avg. ZURICH, April 28- A long-awaited turnaround in UBS's wealth management business helped Switzerland's biggest bank deliver its second-best start to a year since the financial crisis. Net new money, an important indicator for future revenue in private banking, came in at 18.6 billion francs at UBS Wealth...

  • ZURICH, April 28- Swiss bank UBS kicked off 2017 with a 79 percent jump in net profit as a brighter outlook boosted its investment bank and client trading in its core wealth management business. Switzerland's biggest bank and the world's largest wealth manager said on Friday net profit for the first three months of 2017 was 1.3 billion Swiss francs.

  • ZURICH, April 28- Swiss bank UBS kicked off 2017 with its second-best start to a year since the financial crisis as a brighter outlook and a spike in trading levels boosted its investment bank and core wealth management business. Switzerland's biggest bank and the world's largest wealth manager said on Friday net profit for the first three months of 2017 rose 79...

  • ZURICH, April 28- Swiss bank UBS kicked off 2017 with a 79 percent jump in net profit as a brighter outlook boosted its investment bank and client trading in its core wealth management business. Switzerland's biggest bank and the world's largest wealth manager said on Friday net profit for the first three months of 2017 was 1.3 billion Swiss francs.

  • MILWAUKEE _ Artisan Partners Asset Management Inc. on Thursday reported first-quarter profit of $19.8 million. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 50 cents per share. Artisan Partners shares have decreased 2.5 percent since the beginning of the year.

  • The company said that it had liquid assets of C $1.3 billion as of April 25, compared with C $1.5 billion the day before, as investors pulled out of both high-interest savings accounts and the less-liquid guaranteed investment certificates. It said it had secured a high-interest C $2 billion credit line from "a major Canadian institutional investor" and had...

  • April 27- Financial advisory and asset management firm Lazard Ltd reported a 61 percent jump in quarterly profit, helped by growth in its financial advisory and asset management businesses. Net income attributable to the company rose to $107.6 million, or 81 cents per share, in the first quarter ended March 31, from $66.8 million, or 50 cents per share, a year...

  • FRANKFURT, Germany— Germany's Deutsche Bank says net profit more than doubled in the first three months of the year as the bank pressed ahead with cost-cutting and saw more customer money flowing into its asset management business. Net profit of 575 million euros exceeded 236 million euros from the same quarter a year ago and beat analyst expectations of 487...

  • LONDON, April 27- Storebrand, Norway's largest private pension fund, on Thursday launched two new fossil-free funds and called on the government to cut the nation's exposure to coal and other fossil fuels. Norway's $900- billion sovereign wealth fund, the world's largest and built on oil and gas revenues, has sought to lead the shift from investment in coal, the...

  • *China robo advice assets forecast at $27.1 bln end-2017. Robo advice services barely existed in China before 2015, but they are expected to manage $27.1 billion of assets at the end of 2017, though that remains small relative to the $182 billion figure for the United States, where services launched several years earlier, according to market research firm...

  • NEW YORK, April 26- Record high U.S. stock prices are providing the California State Teachers' Retirement System with profit-taking opportunities as it cuts exposure to U.S. equities and moves money off shore, the plan's chief investment officer told Reuters on Wednesday. "We have enjoyed obviously the benefits of this equity rally in the USA, but we still don't...

  • BOSTON/ NEW YORK, April 26- U.S. hedge fund managers began warming to President Donald Trump soon after his surprise election ignited a powerful stock market rally. "For hedge funds, this is an unmitigated benefit as their tax liabilities could drop significantly," said Robert Willens, an independent tax consultant. A manager whose hedge fund earns $50 million a...

  • CPPIB began buying farmland in North America in 2012 and has since purchased about 120,000 acres in the United States and a similar amount in Canada. The country's biggest public pension fund purchased 115,000 acres of Saskatchewan farmland from Assiniboia Farmland LP in 2013 for C $128 million and had intended to invest another C $500 million in Canadian...