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Capital Markets Asset Management and Custody Banks

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  • *Shares surge 17 pct to A $7.77 but below bid price of A $9.05 Asciano's former parent, Toll Holdings, agreed to sale in Jan. SYDNEY, July 1- Canada's Brookfield Asset Management has approached Australia's Asciano Ltd with a $6.8 billion takeover bid, but uncertainty about whether the deal would go through capped gains in the stock price of the rail freight firm.

  • Prime is Sun Life's third acquisition of an asset manager since January. Once all three close, Sun Life will oversee about C $50 billion in assets for third parties, the company said. Toronto- based Sun Life, Canada's third-largest insurer, said the acquisition of Prime, which has about $13 billion in assets under management, would be in cash, but it did not disclose...

  • Toronto- based Sun Life did not disclose the value of the deal. Sun Life followed that up last month with the C $560 million acquisition of North American real estate investment manager Bentall Kennedy Group. Prime Advisors, which had about $13 billion in assets under management as of May 31, will operate as a standalone unit of Sun Life Investment Management, Sun...

  • HONG KONG, June 30- Hong Kong's exchange-traded funds can expect to lose market share to Chinese fund managers when a scheme to mutually trade in both markets starts on Wednesday. "This is going to be a game changer for the Hong Kong ETF market as the mainland funds can offer a bigger variety of products targeting specific sectors and themes than what is currently...

  • New rules impacting asset managers: Silverfinch MD Tuesday, 30 Jun 2015 | 3:30 AM ET
    New rules impacting asset managers: Silverfinch MD

    John Dowdall, managing director at Silverfinch, says new regulations are starting to impact the asset management industry.

  • SHANGHAI, June 30- China's fund association on Tuesday sought to rally confidence as the country's stock markets tumbled, by saying the falling prices presented valuable buying opportunities if hedge fund managers made rational investment decisions. "Confidence is more important than gold," Asset Management Association of China said in a statement on its...

  • Beijing published draft rules on the proposed change late on Monday, hours after China's stock markets had closed sharply despite surprise monetary easing moves by the central bank at the weekend. The pension funds would be able to invest up to 30 percent of their net assets in China's stocks, equity funds and balanced funds, according to the draft published by...

  • SHANGHAI, June 30- China plans to allow official pension funds to invest in stocks, two central government authorities said in a draft regulation released on Monday, according to state news agency Xinhua. The Ministry of Human Resources and Social Security and Ministry of Finance said the draft rules would be open for public consultation until July 13.

  • LONDON/ BOSTON, June 29- Greece's worsening debt crisis threatens to derail the best start to the year for global hedge funds since 2009, as a bitter standoff between Athens and its creditors rattles financial markets. Greek lawmakers on Sunday authorized a July 5 referendum that will let the people of Greece vote yes or no on creditor demands for economic...

  • Canada's Ivanhoe invests in Chinese warehouses Monday, 29 Jun 2015 | 12:39 PM ET

    MONTREAL, June 29- The real estate arm of Canada's second-largest pension fund said on Monday it will invest up to $180 million in Chinese warehouse properties, joining other institutional investors that are seeking to profit from China's burgeoning e-commerce sector. Ivanhoe Cambridge, part of the C $225.9 billion Caisse de depot et Placement du Quebec fund,...

  • US STOCKS-Wall St falls as Greek crisis worsens Monday, 29 Jun 2015 | 9:59 AM ET

    The S&P 500 and the Nasdaq Composite fell around 0.7 percent as markets around the world slumped on fears that other European countries would suffer if Greece defaults. The European Central Bank froze funding to Greek banks, forcing Athens to shut banks for a week to keep them from collapsing. said Leo Grohowski, who oversees about $194 billion in client assets...

  • BOSTON, June 26- Hedge fund manager William Ackman, who has made a $1 billion bet against Herbalife Ltd, on Friday asked the company's chief executive officer to release a video and say why he told an audience years ago that participating in Herbalife was a "lottery ticket." A lawyer for Ackman sent the letter to Herbalife CEO Michael Johnson after the New York Post...

  • SAN FRANCISCO, June 26- Anxiety about Greece and uncertainty about the timing of higher U.S. interest rates may keep Wall Street on edge early next week, but one ray of hope for investors could be an unusually long streak of ambivalence on Main Street. "The market climbs a wall of worry and if there's some bearishness out there it means there's potential buying power...

  • BEIJING, June 26- China's banking regulator said on Friday that it will allow the establishment of more private banks and allow foreign investors to participate in the reform process to help shore up the state-dominated financial sector. China's banking regulator last year approved five private banks to launch operations, as part of a pilot scheme to channel...

  • BEIJING, June 26- China will encourage qualified private investors to establish smaller banks but will control risks and the pace of establishment of new private banks, the country's banking regulator said on Friday. Domestic, state-owned and overseas investors will be treated equally in the process, the China Banking Regulatory Commission, said in a...

  • June 25- Scranton, Pennsylvania, Mayor William Courtright said on Thursday the state should take over the city's pension system after a report found problems with past benefit awards in one of the funds. Courtright, a Democrat, said the most recent report was a "wakeup call" and that he will ask for the support of Governor Tom Wolf in moving all of the funds to the...

  • Hedge funds say au revoir to glitzy Monaco bash Thursday, 25 Jun 2015 | 1:32 PM ET

    *Top industry conference heads to Amsterdam. MONACO, June 25- Ferraris, super-yachts and free-flowing champagne- for a decade, Monaco and hedge funds have gone hand-in-hand. As the warm Mediterranean sun set over Le Méridien Beach Plaza hotel in the small principality, attendees could look forward to next year's event in Amsterdam.

  • LONDON, June 25- Fund managers and investment professionals face a harder slog for less money as competition from the technology sector and mounting regulation squeeze easy profits, the head of the CFA Institute said on Thursday. Change should however be welcomed as a chance to correct the excesses of an industry that is still too opaque when it comes to...

  • ZURICH, June 25- Union Bancaire Privee plans to cut between 60 and 110 jobs initially after buying the international business of wealth manager Coutts from Britain's Royal Bank of Scotland, a source familiar with the matter told Reuters on Thursday. The Geneva- based private bank run by Guy de Picciotto, the son of the founder, hopes the deal will bolster business...

  • NEW DELHI, June 25- India's state social security and pension fund, undeterred by trade union resistance, will start investing in equity markets next month, the labor minister said, part of a broader push by Prime Minister Narendra Modi to move away from socialist ways rooted in decades-old labor laws. With more than $100 billion of assets from some 80 million...