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Asset Management and Custody Banks

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  • Tiger Global, which manages roughly $14.5 billion in hedge fund and private equity portfolios, wrote to investors in a Nov. 25 letter seen by Reuters, that it wants to raise as much as $1 billion in new capital at its Tiger Global Long Opportunities fund. Co-founded by Chase Coleman, Tiger Global was seeded by hedge fund industry veteran Julian Robertson and ranks...

  • UPDATE 2-Kellogg and Abraaj battle for Egypt's Bisco Misr Wednesday, 26 Nov 2014 | 9:38 AM ET

    CAIRO, Nov 26- The battle for control of Egyptian cake and biscuit maker Bisco Misr intensified on Wednesday as Abraaj Investment Management raised its initial bid to trump a rival offer from Kellogg Co.. UAE- based Abraaj, the Middle East's largest private equity firm, raised its offer to 80.58 Egyptian pounds per share, exactly two percent above a bid of 79 pounds...

  • Nov 25- The U.S. Justice Department is investigating allegations that an employee of HSBC Holdings Plc leaked confidential client information to a major hedge fund, the Wall Street Journal reported, citing people with knowledge of the matter. The alleged leak is believed to have taken place in March 2010, when HSBC was advising British insurer Prudential Plc on...

  • WASHINGTON, Nov 25- HSBC Holdings Plc will pay $12.5 million to resolve charges that its Swiss private banking unit illegally offered services to U.S. clients without being properly registered, the U.S. Securities and Exchange Commission said on Tuesday. The SEC said HSBC's Swiss unit amassed 368 U.S. accounts, and its employees traveled to the United States at...

  • WASHINGTON, Nov 25- HSBC Holdings Plc will pay $12.5 million to resolve charges that its Swiss private banking unit illegally offered services to U.S. clients without being properly registered, the U.S. Securities and Exchange Commission said on Tuesday. The SEC said HSBC's Swiss unit amassed 368 U.S. client accounts, and its employees traveled to the United...

  • TOKYO, Nov 25- Japan's $1.1 trillion Government Pension Investment Fund's holdings of domestic bonds fell below half its assets for the first time in the third quarter, highlighting an aggressive shift to riskier assets in line with a push from Prime Minister Shinzo Abe. The roughly $25 billion drop in holdings of low-yielding Japanese government bonds by the...

  • NEW YORK, Nov 24- U.S. fund firms are taking extra measures to make sure they don't get stuck holding hard-to-sell bonds in the event that fixed income markets see a massive race to the exits when interest rates start to rise. Over the past few months a growing number of asset managers, including Neuberger Berman, Natixis Global Management and T. Rowe Price have been...

  • "Policymakers are taking a very comprehensive look in their toolboxes and this should keep investor demand for yield intact," said Tai Hui, chief markets strategist at JP Morgan Asset Management in Hong Kong. Gains in property and brokerage stocks led the benchmark indexes in Hong Kong and mainland China higher as investors anticipated a cut in mortgage rates.

  • Jersey eyes liquidity in Asian, Middle Eastern banks Sunday, 23 Nov 2014 | 12:52 PM ET

    Situated between France and Britain in the Channel, Jersey is a British Crown dependency outside of the United Kingdom and the European Union. It is jostling with larger offshore markets such as Switzerland, the world's leading offshore private banking centre, to manage part of the growing liquidity in Asian and Middle East banks. Presently, 18 percent of the...

  • SAO PAULO, Nov 23- Brazilian President Dilma Rousseff's new, still unconfirmed economic team is preparing budget cuts for 2015 that will be announced next week, newspaper Folha de S. Paulo reported on Sunday. Three of the country's leading newspapers reported on Friday that Rousseff will appoint Joaquim Levy, head of the asset management arm of Brazil's...

  • UK firms Aviva, Friends Life in $8.8B merger talks Saturday, 22 Nov 2014 | 7:46 AM ET

    LONDON— Britain's Aviva says it is in talks to buy another insurer, Friends Life for over 5.6 billion pounds in a deal that would create the country's leading insurance, savings and asset management company by number of customers. The companies issued a statement Friday announcing they had reached agreement on the financial terms of a transaction under which...

  • BRASILIA, Nov 21- Brazilian President Dilma Rousseff will name banker Joaquim Levy as her new finance minister, three leading newspapers reported on Friday, signaling a shift toward more market-friendly policies that could breathe life into a stagnant economy. Levy, head of the asset management arm of Brazil's second largest private bank Bradesco SA and a...

  • LONDON, Nov 21- British insurer Aviva said on Friday it had agreed terms on a possible deal to buy rival Friends Life for 5.6 billion pounds, as British pension reform puts pressure on insurance companies to find new business. Aviva's all-share offer of 0.74 shares for every Friends Life share implies a 15 percent premium to the closing price on Friday.

  • LONDON, Nov 21- Investment chiefs at the world's biggest asset managers this week unanimously forecast a stronger dollar in 2015, but they were far more cautious than many big banks on how far it would rise against the euro. Six months into a long-awaited rally for the dollar, Goldman Sachs and Deutsche Bank are among those predicting that this is just the start of...

  • SAO PAULO/ BRASILIA, Nov 21- Respected Brazilian banking executive Joaquim Levy is among three finalists to become the country's next finance minister, and President Dilma Rousseff could announce her pick later on Friday, a government official said. Levy is chief executive officer of Bradesco Asset Management, an arm of Banco Bradesco SA, the nation's...

  • *Buffett's Berkshire, Novartis, Givaudan doing well. But good news is emerging now for those who prefer safer strategies: some of the best returns this year have come from stable stocks like billionaire Warren Buffett's holding company Berkshire Hathaway or Swiss toilet maker Geberit. "Investors are ready to invest on the equity market but under the condition...

  • French investigate HSBC over possible tax dodging Friday, 21 Nov 2014 | 7:38 AM ET

    PARIS— HSBC bank was placed under formal investigation in France over services it offered to clients required to pay taxes in France, just days after the private banking branch was charged in Belgium with organized fiscal fraud. Switzerland- based HSBC Private Bank said Friday that French investigators demanded a 50 million euro bond. HSBC said the...

  • Nov 20- Renowned oil trader Andy Hall's hedge fund Astenbeck Capital Management had a 5 percent loss in October, after performing reasonably well the prior two months amid tumbling oil prices, according to a letter to investors from Hall. Westport, Connecticut- based Astenbeck, which manages approximately $3 billion, is now up 6 percent on the year, Hall said in the...

  • Nov 20- Bill Gross just got a huge vote of confidence from legendary investor George Soros. Soros Fund Management LLC, which Soros chairs, has invested $500 million in an account run by Gross at Janus Capital Group Inc, the Denver- based firm said on its website on Thursday. Soros Fund Management approached Gross after he resigned from Pimco in late September, a...

  • Nov 20- Blackstone Group LP, the world's largest alternative asset manager, said it will buy residential assets in Japan from GE Japan Corp for more than 190 billion yen. The business owns and operates more than 200 residential properties in Tokyo, Osaka, Nagoya and Fukuoka. "This transaction supports our global strategy to reduce our equity book as we continue to...