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Asset Management and Custody Banks

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  • Investors tell hedge funds they want lower fees -survey Thursday, 26 Feb 2015 | 5:12 PM ET

    BOSTON, Feb 26- Institutional investors are sending a strong message to hedge funds after last year's largely lackluster returns: charge us less and perform better. Nearly one quarter of 134 investors polled by Preqin Ltd said fees would be a key issue in 2015, the research group wrote in its first-half outlook, released on Thursday. Ever since the $300 billion...

  • *Porsche still faces other damage claims in Germany. Two dozen hedge funds, including Viking Global Investors, Glenhill Capital and Greenlight Capital, a year ago accused investment company Porsche SE of camouflaging a plan to acquire Volkswagen and secretly piling up a holding in Europe's largest automaker during 2008.. The case combining 1.36 billion...

  • Sears posts 11th straight quarterly loss Thursday, 26 Feb 2015 | 6:13 AM ET

    Feb 26- Sears Holdings Corp, owner of Sears department stores and the Kmart discount chain, reported its 11th straight quarterly loss as sales continued to tumble. The net loss attributable to Sears narrowed to $159 million, or $1.50 per share, in the quarter ended Jan. 31, from $358 million, or $3.37 per share, a year earlier. Sears, controlled by hedge fund manager...

  • "On balance it's our view that we consider the lawsuit, or the appeal, to be unpromising for several reasons," Gerhard Ruf, judge at the higher regional court in Stuttgart, said on Thursday ahead of a hearing of the case. Two dozen hedge funds, including Viking Global Investors, Glenhill Capital and Greenlight Capital, a year ago accused investment company Porsche SE...

  • MUNICH, Feb 26- German insurer Allianz raised its dividend by less than expected after earnings in its core property and casualty insurance businesses lagged and asset management stalled following client defections at its U.S. unit Pimco. Shares in Europe's largest insurer fell more than 3 percent on Thursday and were the biggest decliners in Germany's blue...

  • *Pension fund investment strategy also lifts sentiment- analysts SoftBank, Fast Retailing contribute half Nikkei gains. TOKYO, Feb 26- Japan's Nikkei share average rose to a fresh 15- year high on Thursday morning after hedge funds were seen buying futures, while index-heavyweight stocks rose as investors' risk appetite improved on benign comments by Fed...

  • CARACAS, Feb 25- Venezuela will ask British bank HSBC Holdings PLC for a list of state officials who have accounts in its Swiss subsidiary, a prosecutor said on Wednesday, following media reports that Venezuelans were among the bank's leading clients. Venezuela and its citizens had some $14.8 billion in assets in HSBC's Swiss private banking arm in 2007, the...

  • WILMINGTON, Del., Feb 25- RadioShack Corp got approval on Wednesday from a U.S. Bankruptcy Court judge to auction about 2,000 stores with an initial $200 million bid from the Standard General hedge fund. Wednesday's hearing was the first time the bankrupt company has put an estimated value on the sale agreement with Standard General, which will keep about half of...

  • NEW YORK, Feb 25- A former hedge fund manager who provided evidence for dozens of insider trading convictions, including that of Galleon Group hedge fund founder Raj Rajaratnam, avoided prison on Wednesday at his sentencing in Manhattan federal court. Thomas Hardin, who previously ran Lanexa Management LLC, pleaded guilty in 2010 to conspiracy and securities...

  • *Decline in Apple weighs on S&P and Nasdaq. NEW YORK, Feb 25- Wall Street lagged a rise in global markets on Wednesday, with the S&P 500 and the Nasdaq closing slightly lower even as energy shares gained along with a surge in oil prices. On Wall Street, a sharp drop in shares of Apple Inc took a toll on the S&P 500 and Nasdaq, but the Dow marked another record closing high,...

  • MONTREAL, Feb 25- Caisse de depot et Placement du Quebec, Canada's second-largest pension fund manager, reported solid returns for 2014 on Wednesday and said it is counting on strong returns from infrastructure and real estate investments to drive growth in the face of what may be tumultuous market conditions ahead. The Caisse, which manages public pension...

  • NEW YORK, Feb 24- A former analyst for hedge fund Two Sigma Investments pleaded guilty in New York state court on Tuesday to stealing proprietary trading models from his employer. "Computer source codes and proprietary trading methods are often the lifeblood of a company's business model, and stealing them is a crime," Manhattan District Attorney Cyrus Vance...

  • NEW YORK, Feb 24- The dollar was up slightly against a basket of currencies on Tuesday, almost erasing earlier gains as Federal Reserve Chair Janet Yellen offered no commitment as to when the U.S. central bank might raise interest rates. It's very cautious and very couched, "said Boris Schlossberg, managing director of FX strategy at BK Asset Management in New York.

  • LONDON, Feb 24- Assets managed by activist hedge funds have surged six-fold in the last 10 years to $120 billion, according to a study released on Tuesday, showing the rise in popularity of some of the most vocal investors. The study by the Alternative Investment Management Association found activist hedge funds on average hold a stock for about two years,...

  • Greek shares rally on bailout extension expectations Tuesday, 24 Feb 2015 | 7:01 AM ET

    *Europe enjoys best earnings season in nearly 4 years. PARIS, Feb 24- Greek shares surged on Tuesday, outpacing modest gains in pan-European indexes after Athens delivered a list of economic reforms to the euro zone that it hopes will secure a four-month extension of its financial lifeline. Volatile Greek banking stocks were the top gainers across Europe, with...

  • PARIS, Feb 21- U.S. real estate investment management firm CBRE Global Investors aims to raise 1.2 billion euros by selling 10 shopping malls in France and Belgium, according to French newspaper Le Figaro. Le Figaro said CBRE, which has $90.6 billion of assets under management, wanted to sell the malls because the fund for which it was operating them matures this...

  • HLSS Servicer Advance Receivables Trust, a key funding source for Ocwen and a unit of Home Loan Servicing Solutions Ltd, was served a notice last month. Ocwen and Home Loan Servicing Solutions said on Wednesday that no other noteholders agree with BlueMountain's allegations. Ocwen shares were down about 2 percent at 9.83 in afternoon trade on the New York Stock...

  • *Rouble slips as fighting continues in east Ukraine. LONDON, Feb 20- Emerging equities were poised to end the week in the red on Friday and most currencies weakened, pressured by jitters over Greece's future in the euro zone, the Ukraine crisis and a stronger dollar. But the rouble weakened 0.42 percent against the dollar, as fighting continued to rage in eastern...

  • UBS to combine EU businesses in one unit - Handelsblatt Wednesday, 18 Feb 2015 | 12:47 PM ET

    FRANKFURT, Feb 18- UBS, Switzerland's biggest bank, plans to combine its EU businesses in one unit, Germany's Handelsblatt newspaper reported without citing sources, adding the operation would probably be run out of Frankfurt. Handelsblatt said UBS was planning to create a "Europa-Bank" with a focus on wealth management, adding that Luxembourg was also still in...

  • Japan Post Bank has been known for its conservative asset management and its investment policy has been closely watched for any sign for changes under an ultra-low interest rate environment. Japan Post Holdings President Taizo Nishimuro told a news conference that Japan Post Bank needs to reconsider the management of its asset portfolio, more than half of...