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Diversified Financials Capital Markets

  • *China robo advice assets forecast at $27.1 bln end-2017. Robo advice services barely existed in China before 2015, but they are expected to manage $27.1 billion of assets at the end of 2017, though that remains small relative to the $182 billion figure for the United States, where services launched several years earlier, according to market research firm...

  • NEW YORK, April 26- Record high U.S. stock prices are providing the California State Teachers' Retirement System with profit-taking opportunities as it cuts exposure to U.S. equities and moves money off shore, the plan's chief investment officer told Reuters on Wednesday. "We have enjoyed obviously the benefits of this equity rally in the USA, but we still don't...

  • BOSTON/ NEW YORK, April 26- U.S. hedge fund managers began warming to President Donald Trump soon after his surprise election ignited a powerful stock market rally. "For hedge funds, this is an unmitigated benefit as their tax liabilities could drop significantly," said Robert Willens, an independent tax consultant. A manager whose hedge fund earns $50 million a...

  • CPPIB began buying farmland in North America in 2012 and has since purchased about 120,000 acres in the United States and a similar amount in Canada. The country's biggest public pension fund purchased 115,000 acres of Saskatchewan farmland from Assiniboia Farmland LP in 2013 for C $128 million and had intended to invest another C $500 million in Canadian...

  • WASHINGTON, April 26 (Reuters)- Public pension funds in at least seven U.S. states have invested millions of dollars in an investment fund that owns a New York hotel and pays one of President Donald Trump's companies to run it, according to a Reuters review of public records. The Trump SoHo Hotel and Condominium in Manhattan is an upscale 46- story property owned by a...

  • TORONTO, April 26- Shares in Home Capital Group, Canada's biggest non-bank mortgage lender, plunged more than 60 percent on Wednesday, wiping out nearly $500 million in market value, after the company agreed to tap a high-interest credit line to shore up finances. Home Capital said it would tap a C $2 billion credit line with an unnamed institutional investor...

  • *Warsaw's commitment to coal expansion lowers risk for investors. WARSAW/ LONDON, April 25- Many Western banks and finance institutions have pledged to divest from coal, but this has not stopped at least one Polish utility that is expanding its use of the fossil fuel from securing funding through banks and the European Investment Bank. Furthermore, the...

  • WASHINGTON, April 26- Public pension funds in at least seven U.S. states have invested millions of dollars in an investment fund that owns a New York hotel and pays one of President Donald Trump's companies to run it, according to a Reuters review of public records. The White House referred comment to the Trump Organization, the parent conglomerate for Trump's...

  • ZURICH, April 26- Credit Suisse will raise around 4 billion Swiss francs through a rights issue to catch up to European rivals on capital, ditching plans to float a minority stake in its Swiss banking unit. Keen to shore up its balance sheet, Switzerland's second-biggest bank had announced in 2015 plans to sell 20-30 percent of its highly profitable Swiss...

  • NEW YORK, April 26- As scores of investment bankers profit from the fee bonanza offered by Chinese companies hunting for deals in the United States, one group is conspicuously absent- Chinese banks. Industrial and Commercial Bank of China, Bank of China, Agricultural Bank of China, and China Construction Bank all have China's sovereign wealth fund, China...

  • NEW YORK, April 25- Hedge fund critics are becoming increasingly vocal about the $3 trillion industry, arguing that it produces mediocre returns for clients while enriching managers with exorbitant fees. But despite some image problems the industry is actually healthy, according to Simon Lorne, vice chairman and chief legal officer of Millennium Management...

  • DUBAI, April 25- Citigroup has obtained a licence to conduct capital markets business in Saudi Arabia, a move that will allow the U.S. bank to return to the kingdom to offer banking services after an absence of almost 13 years. "Saudi Arabia has embarked on a profound economic transformation journey and we are excited and committed to contributing to this...

  • DUBAI, April 25- Citigroup has obtained a license to conduct capital markets business in Saudi Arabia, a move that will allow the U.S. bank to return to the kingdom to offer banking services after an absence of almost 13 years. "Saudi Arabia has embarked on a profound economic transformation journey and we are excited and committed to contributing to this endeavor,"...

  • RIYADH, April 25- Saudi Arabia's stock exchange should be ready to introduce equity futures and options in about 24 months, after it completes reforms to help it manage the risks of such products, the exchange's chief executive Khalid al-Hussan said. Futures and options would provide hedging tools for the foreign institutional investors that are expected to...

  • SYDNEY, April 25- Copper reversed early losses in Asia on Tuesday to trade higher on the back of strong regional equities markets that broadened investor appeal for cyclical assets such as industrial commodities. *SHANGHAI: The most-traded copper contract on the Shanghai Futures Exchange settled 0.04 percent higher at 46,030 yuan a tonne.

  • The euro last traded at $1.0866, off Monday's peak of around $1.0940, its highest level since Nov. 10, after centrist Emmanuel Macron won the first round of the French presidential elections. The euro's sharp bounce on Monday was partly due to the triggering of stop-loss buying at $1.09, said Tan Teck Leng, forex analyst for UBS Wealth Management in Singapore.

  • LONDON, April 24- Hedge funds have tempered their bullishness towards crude oil as the short-covering rally that gripped the market since the end of March ran its course. Hedge funds and other money managers increased their net long position in the three major futures and options contracts linked to Brent and WTI by 8 million barrels in the week to April 18.

  • Arconic announced on Monday that after last week's resignation of its chief executive and chairman, Klaus Kleinfeld, it was postponing its annual meeting from May 16 to an unspecified day at the end of the month. Kleinfeld resigned after sending a letter to Elliott founder Paul Singer this month that Arconic's board did not approve and that the hedge fund...

  • CALGARY, Alberta, April 24- U.S. pipeline company Kinder Morgan Inc said on Monday its Canadian unit filed a prospectus for an initial public offering of restricted voting shares, to help finance its C $7.4 billion Trans Mountain expansion project. Reuters reported in February that the company had begun talks with institutional investors to raise capital for...

  • Avaneesh Krishnamoorthy, an Indian citizen living in West New York, New Jersey, made about $48,000 trading Neustar stock and options in a brokerage account held by him and his wife, after learning that Golden Gate Capital was in talks to buy the company, court papers show. Shares of Neustar rose 21 percent last Dec. 14 after Golden Gate's takeover of the Sterling,...