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Capital Markets Asset Management and Custody Banks

  • NEW YORK, March 31- Third Avenue Management and its founder Martin Whitman have reached a $14.25 million settlement of a lawsuit by investors who accused the well-known value investment firm of mismanaging a junk bond mutual fund that collapsed in December 2015. The preliminary all-cash settlement was filed on Friday with the U.S. District Court in Manhattan,...

  • ZURICH, March 31- Credit Suisse is conducting an internal investigation over whether staff breached compliance rules after three of its offices were searched in tax evasion probes, the head of its International Wealth Management division said on Friday. "The investigation will be executed by compliance, it will not be executed by the business," Iqbal Khan, who is...

  • NEW YORK/ BOSTON, March 31- BlackRock Inc's decision to revamp part of its stock-picking business puts further pressure on active U.S. equity managers to cut fees, change products and merge to stem a relentless, 12- year decline in assets. The moves affect about 11 percent of its $275 billion active stock fund business but are a drop in the ocean for the company, the...

  • TORONTO, March 31- Victor Li, co-chairman of Husky Energy Inc and son of one of Asia's richest men, has agreed to acquire Reliance Home Comfort, a Canadian provider of heating and cooling systems, from U.S. investment firm Alinda Capital Partners for C $2.8 billion, Reliance said on Friday. Li's acquisition comes through his CKP Canada vehicle, a unit of Hong Kong...

  • JOHANNESBURG, March 31- Brian Joffe, the founder of South Africa's Bidvest, will list a 2 billion rand investment firm, Long4Life, on the Johannesburg Securities Exchange next week, the firm said in a pre-listing statement on Friday. Joffe will provide 100 million rand of the capital himself and institutional investors will subscribe for the rest before listing...

  • LONDON, March 31- Frontier equity indexes are about to lose two of their biggest and most liquid markets, Pakistan and Argentina, a change that may deepen disenchantment with an asset class where investment flows have stagnated in recent years. If the main index serving these markets loses Pakistan, Argentina and Nigeria, funds could be left with far fewer...

  • NEW YORK, March 30- Hedge fund manager David Einhorn's unusual plan to divide General Motors Co's shares into two classes poses a potential corporate governance minefield for GM board members. Einhorn, who runs New York- based Greenlight Capital, has pledged to fight for it at the company's annual meeting and plans to nominate a slate of directors ready to...

  • BOSTON, March 29- Billionaire hedge fund manager William Ackman has apologized to clients for betting on Valeant Pharmaceuticals International Inc, telling them he was "deeply and profoundly sorry" for losing so much of their money on the investment. Ackman decided to sell his entire Valeant position earlier this month, suffering a roughly $4 billion loss...

  • NEW YORK, March 29- Wall Street has tempered its expectations for sweeping U.S. tax cuts in the wake of President Donald Trump's stinging healthcare defeat, a move that could push investors to embrace cheaper global stocks after the heady U.S. rally of recent months. The White House turned its attention to an overhaul of the tax code after Republicans were forced...

  • March 29- You probably already knew that hedge fund names are intended to impress, or even better to confuse just enough to make you stop asking questions, but most of all to inspire confidence. You are, after all, as a hedge fund client, about to hand over a substantial sum to people whose probity and ability you cannot measure. Hedge fund investors chase hedge fund...

  • Brevan Howard was granted an injunction last week to stop Reuters publishing a story that it said was based on confidential and "highly sensitive" information that had been sent out to 36 potential investors. Reuters argued that hedge fund managers, such as Brevan Howard, invested on behalf of institutional investors including public pension funds, which...

  • SEOUL, March 28- South Koreas family-run conglomerates are facing calls for a shakeup in their governance from a leading candidate in May's presidential election, following the ouster of former President Park Geun-hye in a burgeoning influence-peddling scandal. The countrys four biggest chaebol groups account for around half the stock market's value,...

  • LONDON, March 27- Hedge funds have unwound much of the concentration of bullish positions that contributed to a fall in oil prices this month, suggesting a broader range of views about where prices go next. Hedge funds and other money managers now hold a combined net long position in Brent and WTI of 684 million barrels, down from a record 951 million on Feb. 21, though...

  • March 27- The owner of Ferrocarril Mexicano, Mexico's largest railroad operator, is nearing a deal to acquire Florida East Coast Railway for more than $2 billion, including debt, people familiar with the matter said on Monday. The acquisition would come at a sensitive time for relations between the United States and Mexico, following a pledge by U.S.

  • NEW YORK, March 27- Bill Gross has reached a roughly $81 million settlement of his lawsuit against Pacific Investment Management Co, ending a bitter 2-1/ 2- year drama over the well-known bond investor's abrupt departure from one of the world's biggest asset managers. Gross, who now works for Denver- based Janus Capital Group Inc, left Pimco following negative...

  • March 27- The owner of Ferrocarril Mexicano, Mexico's largest railroad operator, is nearing a deal to acquire Florida East Coast Railway for more than $2 billion, including debt, people familiar with the matter said on Monday. Grupo Mexico has prevailed in an auction for Florida East Coast Railway and is now negotiating final terms with the U.S. regional...

  • DUBAI, March 27- Dubai- based investment bank Arqaam Capital is launching a globally focused hedge fund, it said on Monday, becoming one of only a handful of local firms to offer such a product. Although Dubai has been growing rapidly as a banking centre, the local fund management industry has largely confined itself to traditional equity and fixed income funds...

  • The Paris Agreement requires consensus for all decisions, meaning the withdrawal of a recalcitrant United States would make it easier for emitters such as China and the European Union to design details of a trillion-dollar shift from fossil fuels. In a step to undo environmental regulations introduced under former President Barack Obama, Trump will sign an...

  • LONDON, March 27- Hedge funds have unwound much of the concentration of bullish positions that contributed to a fall in oil prices this month, suggesting a broader range of views about where prices go next. Hedge funds and other money managers now hold a combined net long position in Brent and WTI of 684 million barrels, down from a record 951 million on Feb. 21, though...

  • *Has close to 3 mln consumer banking clients in South Korea. HONG KONG, March 27- Citigroup Inc plans to double its wealth management assets in South Korea to around $6 billion by 2020, setting up new offices and investing in digital technology to attract new customers. U.S.-based Citi, which is marking its 50th anniversary in South Korea, said it plans to grow its...