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Asset Management and Custody Banks

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  • Legg Mason to pay $21M to settle US civil charges Monday, 27 Jan 2014 | 12:42 PM ET

    A unit of asset manager Legg Mason will pay more than $21 million to settle civil cases with that accused the company of hiding losses from investors.

  • WASHINGTON, Jan 27- A unit of asset manager Legg Mason Inc will pay more than $21 million to settle a pair of civil cases with the U.S. government that accuse the company of hiding losses from investors in their retirement accounts and making certain trades that favored some clients over others.

  • Jan 24- Natural gas was the biggest gainer among commodities last year but the hedge fund that has historically led gains in the space had its first losing year, and many others were down double-digits after being on the wrong side of the market.

  • BEIJING/ HONG KONG, Jan 27- China granted $3.4 billion in fresh quotas to licensed overseas institutional investors this month as of Jan. 27, according to data released by the State Administration of Foreign Exchange on Monday.

  • BOSTON, Jan 24- Richard Schimel, back in the hedge fund business after the U.S. government's insider trading probe helped force him to shut down Diamondback Capital, sees a chance to make money in certain financial stocks this year.

  • Battered European energy stocks ripe for rebound Friday, 24 Jan 2014 | 6:53 AM ET

    *Sector may be past low point of investor pessimism- HSBC. PARIS/ LONDON, Jan 24- Europe's energy stocks, shunned by investors for two years because of jitters over dividends and oil prices, are poised for a revival as companies start to cut investments and generate more cash.

  • *Aberdeen Asset Management drops 5.1 pct, top faller. Aberdeen Asset Management, which invests in emerging markets, fell 5.1 percent after Argentina's central bank abandoned its policy of supporting its currency by intervening in the foreign exchange market.

  • UPDATE 3-Accelerating outflows push down Janus shares Thursday, 23 Jan 2014 | 2:15 PM ET

    Jan 23- The highest outflows in nearly a decade caught up with Janus Capital Group Inc on Thursday and drove down shares in the asset manager by 7 percent. Total assets under management were $173.9 billion at December 31, up from $166.7 billion at September 30 only because market gains offset the outflows.

  • JOHANNESBURG, Jan 23- Carlyle Group and the asset management arm of South Africa's Investec have taken stakes in a Mozambique- based transport firm, the two companies said on Thursday, the latest private equity deal to target Africa.

  • BOSTON, Jan 23- Massachusetts Senator Edward Markey is asking for more information about the business practices of Herbalife Ltd, becoming the most prominent lawmaker to call for action after an activist hedge fund manager accused it of running a pyramid scheme.

  • Jan 23- Asset manager Janus Capital Group Inc said on Thursday that its fourth-quarter profit rose 23 percent on higher investment management fees, but outflows continued. Total assets under management stood at $173.9 billion at December 31, up from $166.7 billion at September 30, Janus said.

  • Janus Capital profit up 23 percent on higher fees Thursday, 23 Jan 2014 | 7:18 AM ET

    Jan 23- Asset manager Janus Capital Group Inc said on Thursday that its fourth-quarter profit rose 23 percent on higher fees. The Denver company reported net income of $38.3 million, or 21 cents per share, up from $31.2 million, or 17 cents per share, a year earlier.

  • NEW YORK, Jan 23- Rebalancing investment accounts isn't exactly at the top of most people's to-do lists, which is why several new online services offer to do it for you. The site has $180 million in assets under management and charges a fee of 0.5 percent to suggest a diversified mix of very low-cost index funds, and then adjusts the selections as needed.

  • BOSTON, Jan 22- Fidelity Investments asset management head Ron O'Hanley will leave the company at the end of February, executives said on Wednesday, after a cautious stint running a key unit of the family-controlled business since 2010..

  • US STOCKS-Wall St flat on earnings, IBM pressures Dow Wednesday, 22 Jan 2014 | 2:35 PM ET

    *IBM shares fall on weak revenue, pressuring Dow. International Business Machines Corp lost 3.5 percent to $181.88, the biggest drag on both the Dow and S&P 500, after the tech giant missed revenue expectations for a fourth straight quarter amid weakening demand, particularly in growth markets like China.

  • BOSTON, Jan 22- Hedge fund manager David Einhorn, whose Greenlight Capital ranked among last year's best performers, has taken new positions in Micron Technology Inc and BP Plc, both of which he praised in a letter to investors for practices focused on returning cash to shareholders.

  • BOSTON, Jan 22- Fidelity Investments asset management head Ron O'Hanley will leave the company at the end of February, executives said on Wednesday, after running a key unit of the family-controlled business since 2010..

  • BOSTON, Jan 22- Hedge fund manager David Einhorn, whose Greenlight Capital ranked among last year's best performers, said he had taken new stakes in BP Plc, Anadarko Petroleum Corp and Micron Technology Inc. The fund returned 19.5 percent last year.

  • FRANKFURT, Jan 21- Allianz late on Tuesday said Mohamed El-Erian, chief executive officer and co-chief investment officer at its asset management unit Pacific Investment Management Company, has resigned, but would stay on the Allianz International Executive Committee.

  • FRANKFURT, Jan 21- Allianz late on Tuesday said Mohamed El-Erian, Chief Executive Officer at its asset management unit Pacific Investment Management Company, has resigned, but would stay on the Allianz International Executive Committee. El-Erian will leave PIMCO mid-March as part of a leadership overhaul, Allianz said.

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