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Asset Management and Custody Banks

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  • BOSTON, July 2- BlackRock Inc, the world's largest asset manager, expects Greek voters to approve a bailout offer from creditors in a referendum set for Sunday, Global Chief Investment Strategist Russ Koesterich said. A "no" vote on the ballot question, he said, would lead to the sale of risky assets and push down equity markets by 4 percent in Europe and 2 percent in the...

  • HONG KONG, July 2- Foreign asset managers are seeking easier access to China's restricted capital markets, saying it is a prerequisite for mainland-listed shares to be added to global indexes. China- listed shares known as A shares are generally only available to Chinese citizens. The Vanguard FTSE Emerging Markets ETF, which has some $50 billion in assets, ranks...

  • They also agreed to wind down their AlphaBridge Fixed Income Master Fund and two similarly named "feeder funds," which were all launched in 2001, and Carino accepted a three-year ban from the securities industry, the SEC said. Instead, the SEC said the defendants by 2010 were generating those valuations themselves, and encouraging broker-dealers to pass them...

  • NEW YORK, July 1- Star bond fund manager Bill Gross will be getting help running his struggling Janus Capital Group Inc mutual fund from Kapstream Capital Pty Ltd's Kumar Palghat, Janus said on Wednesday after acquiring a majority stake in Kapstream. Gross, who began managing the Janus Global Unconstrained Bond Fund in October, will continue to be primary...

  • Reuters spoke to large U.S. money managers across several asset classes, and 15 of 21 said they expected Greek voters to answer yes to a question whether Athens should accept the proposal submitted by the European Commission, the European Central Bank and the International Monetary Fund on June 25. "Things will get increasingly dire in Greece as the week goes on...

  • *Declines comment on investment opportunities in Greece. DUBLIN, July 1- The European Union should be able to contain the fallout if Greece were to leave the euro zone following a weekend referendum on a bailout program, the head of private equity fund Blackstone said on Wednesday. Greece has appealed to its euro zone partners and the European Central Bank to keep...

  • *Shares surge 17 pct to A $7.77 but below bid price of A $9.05 Asciano's former parent, Toll Holdings, agreed to sale in Jan. SYDNEY, July 1- Canada's Brookfield Asset Management has approached Australia's Asciano Ltd with a $6.8 billion takeover bid, but uncertainty about whether the deal would go through capped gains in the stock price of the rail freight firm.

  • Prime is Sun Life's third acquisition of an asset manager since January. Once all three close, Sun Life will oversee about C $50 billion in assets for third parties, the company said. Toronto- based Sun Life, Canada's third-largest insurer, said the acquisition of Prime, which has about $13 billion in assets under management, would be in cash, but it did not disclose...

  • Toronto- based Sun Life did not disclose the value of the deal. Sun Life followed that up last month with the C $560 million acquisition of North American real estate investment manager Bentall Kennedy Group. Prime Advisors, which had about $13 billion in assets under management as of May 31, will operate as a standalone unit of Sun Life Investment Management, Sun...

  • HONG KONG, June 30- Hong Kong's exchange-traded funds can expect to lose market share to Chinese fund managers when a scheme to mutually trade in both markets starts on Wednesday. "This is going to be a game changer for the Hong Kong ETF market as the mainland funds can offer a bigger variety of products targeting specific sectors and themes than what is currently...

  • New rules impacting asset managers: Silverfinch MD Tuesday, 30 Jun 2015 | 3:30 AM ET
    New rules impacting asset managers: Silverfinch MD

    John Dowdall, managing director at Silverfinch, says new regulations are starting to impact the asset management industry.

  • SHANGHAI, June 30- China's fund association on Tuesday sought to rally confidence as the country's stock markets tumbled, by saying the falling prices presented valuable buying opportunities if hedge fund managers made rational investment decisions. "Confidence is more important than gold," Asset Management Association of China said in a statement on its...

  • Beijing published draft rules on the proposed change late on Monday, hours after China's stock markets had closed sharply despite surprise monetary easing moves by the central bank at the weekend. The pension funds would be able to invest up to 30 percent of their net assets in China's stocks, equity funds and balanced funds, according to the draft published by...

  • SHANGHAI, June 30- China plans to allow official pension funds to invest in stocks, two central government authorities said in a draft regulation released on Monday, according to state news agency Xinhua. The Ministry of Human Resources and Social Security and Ministry of Finance said the draft rules would be open for public consultation until July 13.

  • LONDON/ BOSTON, June 29- Greece's worsening debt crisis threatens to derail the best start to the year for global hedge funds since 2009, as a bitter standoff between Athens and its creditors rattles financial markets. Greek lawmakers on Sunday authorized a July 5 referendum that will let the people of Greece vote yes or no on creditor demands for economic...

  • Canada's Ivanhoe invests in Chinese warehouses Monday, 29 Jun 2015 | 12:39 PM ET

    MONTREAL, June 29- The real estate arm of Canada's second-largest pension fund said on Monday it will invest up to $180 million in Chinese warehouse properties, joining other institutional investors that are seeking to profit from China's burgeoning e-commerce sector. Ivanhoe Cambridge, part of the C $225.9 billion Caisse de depot et Placement du Quebec fund,...

  • US STOCKS-Wall St falls as Greek crisis worsens Monday, 29 Jun 2015 | 9:59 AM ET

    The S&P 500 and the Nasdaq Composite fell around 0.7 percent as markets around the world slumped on fears that other European countries would suffer if Greece defaults. The European Central Bank froze funding to Greek banks, forcing Athens to shut banks for a week to keep them from collapsing. said Leo Grohowski, who oversees about $194 billion in client assets...

  • BOSTON, June 26- Hedge fund manager William Ackman, who has made a $1 billion bet against Herbalife Ltd, on Friday asked the company's chief executive officer to release a video and say why he told an audience years ago that participating in Herbalife was a "lottery ticket." A lawyer for Ackman sent the letter to Herbalife CEO Michael Johnson after the New York Post...

  • Stock pickers push back against the index-fund wave Friday, 26 Jun 2015 | 2:10 PM ET

    CHICAGO— Is it worth it to pay a stock picker when index mutual funds are so cheap? It was against that backdrop that several high-profile stock pickers made their case at the Morningstar Investment Conference in Chicago this week. "Active management has lost its voice a little bit, and we want people to remember what it's about," said Rob Lovelace, president of...

  • SAN FRANCISCO, June 26- Anxiety about Greece and uncertainty about the timing of higher U.S. interest rates may keep Wall Street on edge early next week, but one ray of hope for investors could be an unusually long streak of ambivalence on Main Street. "The market climbs a wall of worry and if there's some bearishness out there it means there's potential buying power...