Capital Markets Asset Management and Custody Banks

  • NEW YORK, Aug 4- Hedge fund veteran Kenneth Brody has come out of retirement to launch a new money management firm, a person familiar with the situation told Reuters on Thursday. Brody, who co-founded Taconic Capital Advisors and retired in 2013, has reemerged as chief executive of Sutton Square Partners, a New York- based hedge fund manager. Investments will be led...

  • NEW YORK, Aug 4- The SPDR DoubleLine Total Return Tactical ETF posted roughly $100 million of inflows in July, gaining more ground over the Pimco Total Return Active Exchange-Traded Fund in total assets under management, according to Morningstar data on Wednesday. The Pimco Total Return Active ETF, an actively managed intermediate-term ETF intended to mimic...

  • Burgers on a grill

    One of Wall Street's biggest businesses is under growing pressure from competitors old and new.

  • The index extended gains after the Bank of England cut interest rates for the first time since 2009, while Britain's FTSE turned higher and was up 1.4 percent. "Today's BoE action is a significant step in attempting to support the UK," said Nandini Ramakrishnan, Global Market Strategist at JP Morgan Asset Management. The prospect of lower rates and more monetary...

  • LONDON, Aug 4- The Bank of England cut interest rates for the first time since 2009 on Thursday and said it would buy 60 billion pounds of government debt to ease the blow from Britain's June 23 vote to leave the European Union. -10- year UK government bond yield falls to record low. Lucy O'Carroll, chief economist at Aberdeen Asset Management:.

  • BOSTON, Aug 4- When Adam Kanzer wanted to stop the board of 3 M Co from including the lucrative impact of share buybacks in their chief executive's pay, he quoted Laurence Fink. Sitting atop the world's largest investment fund manager, BlackRock Inc, Fink is a vocal critic of companies' excessive use of share buybacks. Large asset managers like Fidelity Investments...

  • LONDON, Aug 4- British insurer Aviva posted a 13 percent rise in operating profit on Thursday, helped by a strong performance in its UK life insurance unit, although a rise in natural catastrophes led to a year-on-year rise in payouts. That rise was driven by a 7 percent rise in the value of new business at its life insurance unit, with assets under management on its UK...

  • NEW YORK, Aug 3- Billionaire hedge fund manager Seth Klarman said on Wednesday he would work to get Hillary Clinton elected president of the United States because he finds recent comments by Donald Trump "shockingly unacceptable." "His words and actions over the last several days are so shockingly unacceptable in our diverse and democratic society that it is...

  • NEW YORK, Aug 3- The SPDR DoubleLine Total Return Tactical ETF posted roughly $100 million of inflows in July, gaining more ground over the Pimco Total Return Active Exchange-Traded Fund in total assets under management, according to Morningstar data on Wednesday. The Pimco Total Return Active ETF, an actively managed intermediate-term ETF intended to mimic...

  • NEW YORK, Aug 3- Asset manager Apollo Global Management LLC posted quarterly earnings nearly five times that forecast on Wednesday, helped by a recovery in the oil market and a mark-up in the value of its insurance holding company. In its earnings release, New York- based Apollo said income earned from its private equity investments roughly quadrupled from a year...

  • NEW YORK, Aug 3- Asset manager Apollo Global Management LLC posted quarterly earnings nearly five times that forecast on Wednesday, helped by a recovery in the oil market and a mark-up in the value of its insurance holding company. In its earnings release, New York- based Apollo said income earned from its private equity investments roughly quadrupled from a year...

  • NEW YORK, Aug 3- Asset manager Apollo Global Management LLC reported much higher-than-expected quarterly earnings on Wednesday, boosted by large gains in its credit and private equity investments, and a mark-up in the value of its insurance holding company. On a per share basis, it more than doubled to 98 cents from 38 cents a year earlier. Earnings from its credit...

  • NEW YORK, Aug 3- Asset manager Apollo Global Management LLC reported much higher-than-expected quarterly earnings on Wednesday, boosted by large gains in its credit and private equity investments. Economic net income, a key metric for U.S. private equity firms that accounts for unrealized gains or losses in investments, came to $394.9 million after taxes.

  • PARIS, Aug 3- AXA, Europe's second-biggest insurer, reported a 4 percent rise in net profit for the first half of 2016, boosted by proceeds from real estate disposals but held back by natural catastrophe costs and lower asset management revenue. "We have delivered resilient underlying earnings... despite market headwinds and a higher cost of natural events,"...

  • PARIS, Aug 3- AXA, Europe's second-biggest insurer, reported a 4 percent rise in net profit for the first half of 2016, boosted by proceeds from real estate disposals but held back by natural catastrophe costs and lower asset management revenue. Net income was 3.2 billion euros in the first half of 2016, an increase of 4 percent on a reported basis and at constant...

  • PARIS, Aug 3- AXA, Europe's second-biggest insurer, reported a 4 percent rise in net profit for the first half of 2016, boosted by proceeds from real estate disposals but held back by natural catastrophe costs and lower asset management revenue. Net income was 3.2 billion euros in the first half of 2016, an increase of 3 percent at constant exchange, rates and below...

  • BOSTON, Aug 2- Marcato International, an activist hedge fund that mainly bets on U.S. equities, returned 10.4 percent in July, handily beating the broader stock market index's gain, when the fund made two new investments. Last week, Taikang Life Insurance, run by Chen Dongsheng, who founded Chinese auction house China Guardian, took a 13.5 percent stake in Sotheby's.

  • FRANKFURT, Aug 2- Volkswagen AG and its former chief executive have asked a U.S. federal judge in California to dismiss lawsuits filed by American investors accusing the German automaker of deception involving its cheating on diesel emissions tests. District Judge Charles Breyer in San Francisco to throw out a class action securities complaint led by the...

  • BOSTON, Aug 2- Och-Ziff Capital Management Group on Tuesday reported a second-quarter loss after the largest publicly traded U.S. hedge fund company set aside $214.3 million to eventually settle bribery charges with the U.S. government. The company also said William Barr, a former U.S. attorney general, would join its board on Aug. 9. By Monday, assets had declined...

  • LONDON, Aug 1- Hedge funds have turned very bearish towards both crude and refined products over the last two months amid signs of an oversupply of gasoline. Hedge funds and other money managers added the equivalent of 56 million barrels of extra short positions in the three main Brent and WTI futures and options contracts in the week ending July 26.