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Diversified Financials Capital Markets

  • 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...

  • *UniCredit sees central and eastern Europe as growth area. MILAN/ LONDON, Dec 13- Italy's largest bank, UniCredit, plans to raise 13 billion euros in the country's biggest-ever share issue to shore up its balance sheet and shield itself from a broader banking crisis. They come at a turbulent time for Italian banks and the economy- with Monte dei Paschi di Siena at risk...

  • 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...

  • PARIS/ MILAN, Dec 12- Amundi is to buy rival Pioneer Investments from UniCredit for 3.6 billion euros, a deal that will extend the French asset manager's reach in Europe and bring in much needed capital for the Italian bank. The deal comes as UniCredit, Italy's largest bank, prepares to publish a new business plan and announce a fundraising via a share issue that...

  • 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.

  • *UniCredit to book 2.2 bln euros net capital gain. PARIS, Dec 12- French asset manager Amundi has agreed to buy rival Pioneer Investments from Italian bank UniCredit for 3.6 billion euros, extending its reach in Europe and bringing in some much-needed capital for UniCredit. UniCredit's chief executive Jean-Pierre Mustier, a former top banker at Societe...

  • ROME, Dec 12- Italy is ready to pump capital into Monte dei Paschi di Siena if the ailing bank fails to get the money it needs to remain in business from investors, a Treasury source said on Monday. Italy's third-biggest bank is pressing ahead with a plan to raise 5 billion euros on the market this year, despite political uncertainty in the country after a...

  • *UniCredit to book 2.2 bln euros net capital gain. PARIS, Dec 12- French fund management company Amundi is to buy asset manager Pioneer from Italian bank UniCredit for 3.55 billion euros, and will finance the deal with a debt and equity issue. For Amundi, which is majority owned by French bank Credit Agricole, the acquisition of Pioneer will strengthen its...

  • PARIS, Dec 12- French fund management company Amundi is to buy asset manager Pioneer from Italian bank UniCredit for 3.55 billion euros, and will finance the deal with a debt and equity issue. The deal is one of various disposals being pursued by newly-appointed UniCredit Chief Executive Jean-Pierre Mustier to boost capital levels at the Italian lender, slim it...

  • MILAN, Dec 11- Italy's biggest bank by assets UniCredit has reached a deal to sell its asset manager Pioneer to France's Amundi for more than 4 billion euros, a source with knowledge of the matter said on Sunday. The Pioneer sale comes as UniCredit is set to announce on Tuesday a share issue worth up to 13 billion euros in what would be a major test of confidence in...

  • NEW YORK, Dec 9- The Beechwood group of reinsurance companies is in talks to sell most or all of itself after a backlash from some clients due to its relationship with troubled hedge fund manager Platinum Partners, according to a person familiar with the situation. The Bermuda-, Grand Cayman- and New York- based firm has been working to sever its links with Platinum...

  • Samuel Mebiame, a son of the late former Gabon Prime Minister Leon Mebiame, entered his plea in federal court in Brooklyn to conspiracy to violate the U.S. His plea came after Och-Ziff and its chief executive, Daniel Och, agreed in September to pay $412 million and $2.17 million, respectively, to resolve U.S. probes into the hedge fund's role in bribing officials in...

  • Samuel Mebiame, the 43- year-old son of the late former Gabon Prime Minister Leon Mebiame, entered his plea in federal court in Brooklyn to conspiracy to violate the U.S. His plea came after Och-Ziff and CEO Daniel Och in September agreed to pay $412 million and $2.17 million, respectively, to resolve U.S. probes into the hedge fund's role in bribing officials in...

  • Samuel Mebiame, the 43- year-old son of the late former Gabon Prime Minister Leon Mebiame, entered his plea in federal court in Brooklyn to conspiracy to violate the U.S.

  • NEW YORK, Dec 9- Polychain Capital, a hedge fund that invests solely in encrypted digital currencies, has raised $10 million from famed venture capitalists Andreeseen Horowitz and Union Square Ventures, founder Olaf Carlson-Wee said on Friday. The San Francisco- based fund is focusing on currencies powered by blockchain, a ledger of transactions maintained by...

  • 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, a recently launched hedge fund backed by the Blackstone Group, said in the letter dated on Friday that its $728...

  • BOSTON, Dec 8- Fidelity Investments' $105 billion Contrafund is having a bad three-year run, but you would never know it by looking at its fees. The mutual fund's management fees have increased 25 percent to $614 million over the past three years despite investors pulling several billion dollars as its performance lagged the benchmark S&P 500 Index.

  • EDINBURGH, Dec 8- Outsourcing group Capita announced the sale of its asset management services arm alongside a second profit warning in three months on Thursday, exposing flaws in its strategy made worse by the Brexit vote and sending its share price crashing. That in turn was a result of a slowdown in new orders coming through as new customers hesitate to commit...