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Capital Markets Asset Management and Custody Banks

  • *Operating profit up 12 pct to 3 bln stg. *Shares up 5.6 pct, top gainer in the FTSE 100. LONDON, March 9- British insurer Aviva generated forecast-beating annual profit, boosted by growth in general insurance and asset management, and said more of its growing cash pile would be handed back to shareholders in 2017, sending its stock higher.

  • SHANGHAI, March 9- Hong Kong stocks had their worst day in nearly three months on Thursday, with main indexes closing at month lows, bruised by a slump in energy and raw material shares. But some investors remain bullish on Hong Kong equities in the long term, citing China's economic recovery that is being driven by improving fundamentals. Dutch asset manager...

  • NEW YORK, March 8- Pacific Investment Management Co is replacing the full slate of managers on its Total Return Active Exchange-Traded Fund and changing its name, a spokeswoman for the fund management company said on Wednesday, the latest transformation for what was once the largest actively managed ETF. Managers Scott Mather, Mark Kiesel and Mihir Worah are...

  • BOSTON, March 8- FTSE Russell will consult with big investors on whether to include companies like Snap Inc in its widely followed stock indexes even if their shares lack voting rights, an executive said. The issue will be studied at meetings with asset managers and other clients this month, Joti Rana, Americas head of governance and policy for FTSE Russell, said in...

  • BOSTON, March 8- Billionaire investor David Tepper, whose views on markets and stocks are closely watched by other money managers, said on Wednesday he bought shares of Snap Inc in its initial public offering, sold some, and would buy again if the price dropped. The highly anticipated $3.4 billion offering was the biggest U.S. technology IPO since Alibaba Group...

  • MUMBAI, March 8- Canada's two largest pension funds have bought a stake of about 1.5 percent in India's Kotak Mahindra Bank for about 22.55 billion rupees from its founder and chief executive Uday Kotak, stock exchange data showed on Wednesday. Caisse de depot et placement du Quebec, Canada's second-biggest public pension fund, bought 18.4 million shares in the...

  • HOUSTON, March 7- The Organization of the Petroleum Exporting Countries is moving to bring U.S. shale producers and hedge funds into widening talks about how best to tame a global oil glut. Last November, OPEC took initial steps to widen its market reach as it sought to end a two-year price war, striking a historic agreement with 13 non-member countries, including...

  • March 7- Brookfield Asset Management Inc said on Tuesday it would buy one of the two "yieldcos" of bankrupt U.S. solar company SunEdison Inc and take a 51 percent stake in the other, for a total of about $1.41 billion. TerraForm Global owns or has contracts to acquire 952 megawatts of wind and solar power in Brazil, India, China, South Africa, Thailand, Malaysia and...

  • March 7- Innoviva Inc said activist investor Sarissa Capital Management LP had nominated four directors to replace a majority of the drug company's board. Innoviva, formerly Theravance Inc, urged shareholders to vote for its recommended seven nominees at the 2017 annual meeting. Sarissa Capital Management LP, a hedge fund run by billionaire investor Carl...

  • March 7- Innoviva Inc said on Tuesday activist investor Sarissa Capital Management LP had nominated a slate of directors to replace a majority of the company's board. Innoviva, formerly Theravance Inc, urged shareholders to vote for its recommended seven nominees, adding Sarissa had provided no rationale for its actions nor proposed a new strategic...

  • LONDON, March 6- Hedge funds have trimmed their bullish position in crude oil by the largest amount since OPEC announced its decision to cut output in November. But the decline comes after fund managers doubled their net long position from 425 million barrels on Nov. 8 to 951 million barrels on Feb. 21. The accumulation of long positions may have helped accelerate...

  • March 6- U.S. buyout fund Hellman& Friedman is nearing a deal to buy Madrid- based mutual fund platform Allfunds Bank SA, after beating bids from rival private equity bidders, Bloomberg reported, citing people familiar with the matter. The deal could be announced as soon as this week and valued Allfunds Bank at about 1.8 billion euros, Bloomberg reported on Monday.

  • BOSTON, March 6- A group representing large institutional investors has approached index providers S&P Dow Jones Indices and MSCI Inc, looking to bar Snap Inc and any other company that sells investors non-voting shares from their stock benchmarks. Were Snap to be added to indexes such as the S&P 500 Index or the MSCI USA Index, managers of stock index portfolios...

  • BOSTON, March 6- A group representing large institutional investors has approached stock index providers S&P Dow Jones Indices and MSCI Inc, looking to bar Snap Inc and any other company that sells investors non-voting shares from their stock benchmarks. Were Snap to be added to indexes such as the S&P 500 Index or the MSCI USA Index, then managers of stock index...

  • LONDON, March 6- Hedge funds have trimmed their bullish position in crude oil by the largest amount since OPEC announced its decision to cut output in November. But the decline comes after fund managers doubled their net long position from 425 million barrels on Nov. 8 to 951 million barrels on Feb. 21. The accumulation of long positions may have helped accelerate...

  • *Investor demand highest since 1999- Blue Lion Research. LONDON/ BOSTON, March 6- Bank stocks are back in vogue for hedge funds, which have shunned the industry over the past seven years due to a squeeze on banks' profitability from low interest rates and because of their opaque balance sheets. "I think people are overweighting," Hilmi Unver, partner at hedge fund...

  • *Says political uncertainties cloud solid economic outlook. TOKYO, March 6- Dan Fuss, vice chairman of Loomis Sayles and one of the world's longest-serving fund managers, said on Monday he is more cautious on bonds than at any time since the 1970 s, as political uncertainties cloud an otherwise solid economic outlook. Fuss, 83, told Reuters in an interview said in...

  • BRAZIL GOV'T HAS "KEY ROLE" TO PLAY IN SELECTION OF NEW VALE CEO DUE TO PENSION FUND INVESTMENTS- MINING MINISTER.

  • *Rights issue to begin March 21. FRANKFURT, March 5- Deutsche Bank plans to raise capital, list its asset management business and overhaul its business structure as it tries to reinvent itself after spending two years dealing with its past misdeeds and huge losses. Deutsche plans to launch an 8 billion euro rights issue of 687.5 million new shares on March 21,...

  • *Rights issue to begin March 21. FRANKFURT, March 5- Deutsche Bank plans to raise capital, list its asset management business and overhaul its business structure as it tries to reinvent itself after spending two years dealing with its past misdeeds and huge losses. Deutsche plans to launch an 8 billion euro rights issue of 687.5 million new shares on March 21,...