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Capital Markets Asset Management and Custody Banks

  • The world's largest custodian bank said net income attributable to common shareholders rose to $974 million, or 90 cents per share, in the three months ended Sept. 30 from $820 million, or 74 cents per share, a year earlier. Excluding items, the company earned $979 million, or 90 cents per share, beating the average analyst estimate of 81 cents per share, according to...

  • LONDON, Oct 20- European shares slipped back on Thursday as a clutch of profit warnings from companies throughout the region took their toll on the market. "Europe is a really slow-moving stock market at the moment. There is too much economic uncertainty in Europe, "said Andreas Clenow, chief investment officer at Zurich- based ACIES Asset Management.

  • SYDNEY, Oct 20- Australia's New South Wales state government said on Thursday it has agreed to sell the country's biggest electricity network for A $16.2 billion to a pair of local pension funds, after Chinese and Hong Kong interests were rejected on security grounds. The offer from IFM Investors, which invests on behalf of 29 domestic superannuation funds, and...

  • For instance, Eric Knight's activist-oriented Knight Vinke Institutional Partners is up nearly 50 percent before fees this year, while the Russian Prosperity Fund, which picks stocks in the former Soviet Union and is led by Alexander Branis, has climbed 43 percent. Then there are Jason Mudrick's Mudrick Distressed Opportunity Fund and Phoenix Investment...

  • For instance, Eric Knight's activist-oriented Knight Vinke Institutional Partners is up nearly 50 percent before fees this year, while the Russian Prosperity Fund, which picks stocks in the former Soviet Union and is led by Alexander Branis, has climbed 43 percent. Then there are Jason Mudrick's Mudrick Distressed Opportunity Fund and Phoenix Investment...

  • Prime fund assets for institutional investors fell by $34.22 billion to $131.27 billion in the week ended Oct. 18, while institutional government-only fund assets rose by $21.9 billion to $1.57 trillion, according to the report, published by iMoneyNet. These SEC rules are aimed to safeguard the sector from the market turbulence such as that seen after the...

  • Oct 19- Morgan Stanley plans to announce in the coming weeks how its wealth-management business will comply with a new U.S. rule intended to protect retirement savers, Chief Executive James Gorman said on Wednesday. Gorman declined to give details, but hinted that providing wealth clients with choice about account options and how they pay the firm is a priority.

  • NEW YORK, Oct 18- BlackRock Inc, the world's largest asset manager, reported better-than-expected quarterly profits on Tuesday, showing resilience in what has been a punishing market for fund managers. CEO Larry Fink nonetheless told Reuters his industry faces a "hostile" environment as investors migrate to products like index funds, which typically carry...

  • NEW YORK, Oct 18- BlackRock Inc, the world's largest asset manager, reported better-than-expected quarterly profits on Tuesday, showing resilience in what has been a punishing market for fund managers. CEO Larry Fink nonetheless told Reuters his industry faces a "hostile" environment as investors migrate to products like index funds, which typically carry...

  • NEW YORK, Oct 18- BlackRock Inc, the world's largest asset manager, reported a better-than-expected quarterly profit on Tuesday, showing resilience in what has been a punishing market for many asset managers' earnings. Despite what CEO Larry Fink conceded was a difficult market for investors, who moved to generally lower-fee bond investments and index funds,...

  • BOSTON, Oct 18- Former Macquarie portfolio manager David Meneret has secured financial backing from Protege Partners for his new hedge fund, Mill Hill Capital, the fund and firm said on Tuesday. New York- based Mill Hill Capital, which will focus on investments in corporate and securitized assets including bonds and collateralized loan obligations, plans to...

  • The New York- based company's net income rose 3.8 percent to $875 million, or $5.26 per share, in the third quarter ended Sept. 30 from $843 million, or $5.00 per share, a year earlier. On an adjusted basis, BlackRock earned $5.14 per share, beating the average analyst estimate of $5.00, according to Thomson Reuters I/B/E/S. BlackRock ended the latest quarter with $5.12...

  • BLACKROCK QUARTERLY PROFIT RISES 3.8 PCT@. Oct 17- BlackRock Inc, the world's largest asset manager, reported a 3.8 percent rise in quarterly profit, showing resilience in a weak market for many traditional asset managers. The New York- based company's net income rose to $875 million, or $5.26 per share, in the third quarter ended Sept. 30 from $843 million, or $5.00 per...

  • *Hong Kong stocks rise, lifted by financials and utilities. HONG KONG, Oct 18- Asian shares extended gains on Tuesday, pulled higher by financials and a rebound in oil prices, while the Australian dollar hit a two-week high as investors trimmed expectations for a central bank rate cut this year. MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.8...

  • *Hong Kong stocks weighed by soft yuan, weak results. Australia's benchmark index was up 0.4 percent while Hong Kong shares were poised to open higher. "The Hong Kong markets should find some support around current levels though the weak outlook from the telecom and the property sector and continued concerns of yuan weakness will prevent any sharp gains," said...

  • While pension fund managers across the country have cut exposure to overpriced, underperforming investments, the New York State Common Retirement Fund, the nation's third-largest public pension fund, has spent pension system funds chasing performance that continues to fall far short, said Maria Vullo, New York State Department of Financial Services...

  • Oct 17- New York's Department of Financial Services said on Monday that investment in high-cost underperforming hedge funds and non-transparent private equity funds had cost the State Common Retirement Fund $3.8 billion over the past eight years. The CRF is the investment arm of the New York State and Local Employees' Retirement System and the New York State...

  • LONDON, Oct 17- British businesses have shown little sign of creating fewer jobs or investing less as a result of growing pension liabilities but the rules governing such funds may need to be tweaked, Bank of England deputy governor Ben Broadbent said on Monday. Broadbent was speaking to a parliament committee which is investigating the future of ailing...

  • ZURICH, Oct 17- UBS, the world's biggest private bank, is spending around 1 billion Swiss francs to standardize the IT platform across its flagship wealth management business, an investment it hopes will ultimately help lower costs. "This is about integrating our historically fragmented infrastructure that we have globally into one platform," the Swiss bank's...

  • ZURICH, Oct 17- UBS, the world's biggest private bank, is spending around 1 billion Swiss francs to standardise the IT platform across its flagship wealth management business, an investment it hopes will ultimately help lower costs. "This is about integrating our historically fragmented infrastructure that we have globally into one platform," the Swiss bank's...