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Capital Markets Asset Management and Custody Banks

  • LONDON, Dec 19- Hedge funds have amassed a record bullish position in crude oil in anticipation OPEC and non- OPEC oil producers will succeed in rebalancing the market and reducing excess stocks next year. Promised production cuts totalling almost 1.2 million barrels per day by the Organization of the Petroleum Exporting Countries and 560,000 bpd by non- OPEC...

  • Dec 19- Asset manager Legg Mason Inc said on Monday its largest shareholder, Shanda Group, plans to increase its stake in the company to up to 15 percent as part of a long-term strategic investment agreement. Baltimore- based Legg Mason also appointed Shanda Group Chief Executive Tianqiao Chen and Robert Chiu, president of Shanda Group, to its board of directors.

  • SHANGHAI, Dec 19- China's central bank will tighten supervision of shadow banking businesses by including off-balance sheet wealth management products into its risk-assessment framework next year, sources with direct knowledge of the matter told Reuters. Over the weekend, China's top leaders vowed at a key economic planning meeting to prevent asset...

  • SHANGHAI, Dec 19- China's central bank will include the off-balance sheet wealth management business in its so-called Macro Prudential Assessment risk-tool starting in the first quarter of next year, sources with direct knowledge of the matter told Reuters. The People's Bank of China also urged financial institutions to strengthen liquidity management...

  • BOSTON, Dec 16- Fidelity Investments unintentionally boosted BlackRock Inc's prospects as a robo adviser with a small investment in a start-up company that BlackRock bought last year for an estimated $150 million. Morgan Stanley analysts describe how robo advising is an emerging force to provide affordable advice in a $22 trillion wealth pool that...

  • MILAN, Dec 16- Troubled Italian bank Monte dei Paschi di Siena sought on Friday to convince 40,000 retail investors to take part in its last-ditch rescue plan, warning them they could face bigger losses if they did not convert their bonds into shares. Italy's third biggest bank has until the end of this month to raise 5 billion euros in equity or face the risk of...

  • Dec 16- Fund manager Virtus Investment Partners Inc said on Friday that it would buy RidgeWorth Investments for about $513 million to widen its client base. The deal, which is expected to be accretive to earnings per share, will nearly double Virtus' assets under management to $86.8 billion. Atlanta- headquartered RidgeWorth, which has $40.2 billion in assets, is...

  • MILAN, Dec 16- Troubled Italian bank Monte dei Paschi di Siena sought on Friday to convince 40,000 retail investors to take part in its last-ditch rescue plan, warning them they could face bigger losses if they did not convert their bonds into shares. Italy's third biggest bank has until the end of this month to raise 5 billion euros in equity or face the risk of...

  • *Wall Street banks facing tough Asia investment banking business. The Swiss bank joins rivals in making investment banking cost cuts in Asia as deal volumes remain sluggish. Wall Street banks are grappling with a harsh environment in Asia as the region's economies and markets have failed to deliver sustained growth after the 2008 financial crisis.

  • ROME/ MILAN, Dec 15- Italy's government is ready to pump 15 billion euros into Monte dei Paschi di Siena and other ailing banks, sources said, as the country's third-largest lender pushes ahead with a private rescue plan that is widely expected to fail. The world's oldest bank has until Dec. 31 to raise 5 billion euros in equity or face being wound down by the European...

  • ROME/ MILAN, Dec 15- Italy's government is ready to pump 15 billion euros into Monte dei Paschi di Siena and other ailing banks, sources said, as the country's third-largest lender pushes ahead with a private rescue plan that is widely expected to fail. The world's oldest bank has until Dec. 31 to raise 5 billion euros in equity or face being wound down by the European...

  • NEW YORK, Dec 15- New York City remained the top choice this year among foreign investors in commercial real estate while Washington fell to No. 15 as a global destination and dropped from the top five U.S. cities for the first time, a survey showed on Thursday. The best Washington has mustered since 2013 was eighth place, according to AFIRE, whose members are among the...

  • JOHANNESBURG/ LONDON, Dec 15- Anheuser-Busch InBev will sell its stake in South Africa's Distell Group to state-owned pension fund Public Investment Corp, it said on Thursday, as agreed during its takeover of SABMiller. South Africa's Competition Commission made the disposal a condition of the $100 billion takeover. Distell's other large shareholders,...

  • JOHANNESBURG, Dec 15- Anheuser-Busch Inbev will sell its entire interest in Distell Group Ltd to South Africa's state-owned pension fund Public Investment Corp as part of the conditions for its acquisition of brewer SABMiller, the company said on Thursday.

  • NEW YORK, Dec 14- SkyBridge Capital, the hedge fund investment firm founded by outspoken industry defender Anthony Scaramucci, is for sale, according to a person familiar with the situation. Scaramucci, a fundraiser and adviser to President-elect Donald Trump, recently began an auction process for the New York- based firm as he considers potential roles in the...

  • SAO PAULO, Dec 14- The pension fund for oil company Petroleo Brasileiro SA's employees on Wednesday called for securities industry watchdog CVM to investigate some of Brazil's largest asset managers over allegations of irregularities, a statement said. Walter Mendes, president of Fundação Petrobras de Seguridade Social, commonly known as Petros, asked...

  • Two of Australia's largest pension funds, AustralianSuper and Cbus, intend to manage in-house at least 20 percent of their combined A $140 billion in assets within the next decade. To do that they are wagering on their market power as Australia's current A $2.1 trillion pool of retirement savings is set to reach an astronomical A $10 trillion by 2035, according...

  • KUALA LUMPUR, Dec 13- Malaysia and Singapore will call a joint tender to build a high-speed rail system linking the neighbors in the final quarter of next year, their prime ministers said on Tuesday. Firms from China, Japan, South Korea and Europe are among those to have expressed interest in the project, planned to cut travel time between Singapore and the...

  • LONDON, Dec 12- Hedge funds were badly caught out by the production cuts announced by OPEC at the end of last month, triggering a furious rally as managers raced to buy back loss-making short positions. When OPEC announced a deal had been reached on Nov. 30, a substantial number of short positions were still uncovered, providing the opportunity for a classic squeeze.

  • Dec 9- A major shareholder of NorthStar Realty Europe Corp has offered to buy the company for $13 per share and is demanding that the real estate investment trust pursue a new asset management contract, according to a letter seen by Reuters. Bow Street LLC said in the letter dated on Friday that its $728 million offer is fully financed. NorthStar Europe focuses on...