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Asset Management and Custody Banks

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  • June 30- A South Carolina jury on Monday awarded $8.1 million to a former adviser who sold his wealth management business to BB&T Corp and later alleged that the company mismanaged his retirement nest egg with a risky strategy, according to a person familiar with the matter. A spokeswoman for BB&T Corp and a lawyer for the plaintiff declined to comment.

  • June 30- A jury in a South Carolina state court on Monday awarded $8.1 million to a former adviser who sold his wealth management business to BB&T Corp and later alleged that the bank mismanaged his retirement nest egg with a risky strategy, according to a person familiar with the matter.

  • *CSRC cracking down on insider trading at mutual funds. By Lu Jianxin and Pete Sweeney. SHANGHAI, July 1- A crackdown by Chinese regulators on insider trading in the country's $1.2 trillion mutual fund industry has sparked an exodus of fund managers from the industry.

  • Funds managed by Trian collectively own about 28.9 million shares, or about 2 percent, of BNY Mellon after adding to the stake in the first quarter, according to disclosures with the U.S. Securities and Exchange Commission and the person familiar with Trian's investment strategy. "Trian is a respected investment firm," BNY Mellon spokesman Kevin Heine said.

  • NEW YORK, June 30- Even as BlackRock Inc is set to amass $1 trillion in exchange-traded fund assets in its iShares business, U.S. retail investors increasingly prefer to send their money to low-cost leader Vanguard Group, highlighting a weak spot for the world's biggest money manager.

  • LONDON, June 29- While banks are dumping risky assets as regulation bites, asset managers are plugging the funding gap and using their growing clout in ways that could harm markets, the Bank for International Settlements says.

  • *Central-bank body's Shin warns of' destructive reversal'. FRANKFURT, June 29- Pension funds and other long-term investors are taking ever bigger risks and could be laying the ground for renewed turmoil when money gets more expensive, one of the world's leading economists told Reuters.

  • BEIJING, June 28- China's National Social Security Fund earned 68.6 billion yuan from its investments in 2013, implying a 6.2 percent return on investment, the Xinhua news agency said on Saturday.

  • NEW YORK, June 27- Wall Street may kick off the second half of the year with an uptick in volatility, thanks to the June jobs report and plenty of other market-moving data in a short trading week. Federal Reserve Chair Janet Yellen is scheduled to speak on financial stability at an International Monetary Fund conference in Washington.

  • Tech threat a warning for fund managers to step up Friday, 27 Jun 2014 | 11:53 AM ET

    *Google, Apple, Amazon among those well positioned- KPMG. MONACO, June 27- Tech companies pose a growing threat to traditional asset managers and the financial services industry needs to up its game to meet the challenge, even though the hurdle of regulation is holding back rapid change, industry executives said.

  • LONDON, June 27- The hunt for returns in trendless stock markets is pushing institutional investors back towards actively managed equity funds, offering relief to an industry that has borne the brunt of the surge in popularity of low-cost exchange traded funds.

  • *ShFE copper may see another bout of short-covering- Standard Bank. A stoppage in ore shipments from Indonesia since January, as miners Freeport-McMoRan Copper& Gold Inc and Newmont Mining Corp renegotiate taxes on their exports with the government, has wiped out the year's expected surplus.

  • One person who has thought interestingly about these issues is Stephen Jen, a hedge fund manager at SLJ Macro Partners. Jen argues, picking up on points made by economist Paul Samuelson a decade ago, that lagged effects of globalization may be behind some of the peculiarities in both markets and economics we now observe.

  • NEW YORK, June 26- KKR& Co LP said on Thursday it named Alexander Navab sole head of its Americas private equity business after a review resulted in Michael Michelson's giving up his title as co-head alongside Navab to return to full-time investing.

  • LONDON, June 26- The London Stock Exchange Group unveiled the largest acquisition in its history, snapping up U.S. group Frank Russell for $2.7 billion to boost its position in the world's largest financial services market and sending its shares surging.

  • LONDON, June 26- The London Stock Exchange Group said it planned to acquire U.S.-based asset manager and stock exchange provider Frank Russell for $2.7 billion, with the help of a $1.6 billion rights issue, as it ramps up its U.S. presence.

  • *Upgrade of UAE, Qatar by MSCI lured billions. DUBAI, June 25- The spectacular rise and fall of Arabtec, Dubai's most heavily traded stock, teaches hard lessons about how risky the region remains for investors even as its rapid economic growth lures billions of dollars in fresh funds from abroad.

  • sources@ TOKYO, June 25- Three Japanese "semi-public" pension funds aggressively bought Tokyo stocks in recent weeks, market sources said, acting before a review of their asset allocation policies is complete.

  • *34 new commodity funds through May, lowest since H1 2006. *Only two new "discretionary" funds, both by same trader. NEW YORK, June 24- Commodity fund launches have slowed dramatically, heading for an eight-year low, data from industry tracker Preqin showed, after years of weak returns and some high-profile fund failures in the commodities sector.

  • JGBs steady as investors await Japan growth plan Monday, 23 Jun 2014 | 11:03 PM ET

    Japanese Prime Minister Shinzo Abe will detail his so-called "third arrow" policies including phased corporate tax cuts and reforms for the $1.26 trillion Government Pension Investment Fund, the world's biggest pension fund.