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Asset Management and Custody Banks

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  • NEW YORK, Jan 15- A hedge fund manager who handled debt purchases at the center of a trial over LightSquared's bankruptcy said on Wednesday he did not recall whether Dish Network Corp Chairman Charles Ergen was buying the debt to influence the bankruptcy.

  • NEW YORK, Jan 15- CITIC Capital Holdings Ltd, a unit of China's sovereign wealth fund, has invested in a new U.S.-based asset management fund set up by former executives of bankrupt hedge fund FX Concepts, two sources familiar with the matter said on Wednesday. CITIC Capital manages more than $4 billion in assets.

  • SAFT ON WEALTH-Success has many fathers Wednesday, 15 Jan 2014 | 4:10 PM ET

    Jan 15- If you are like most investors, you probably mistake catching a wave for being able to swim fast. A new study by Dutch academics Arvid Hoffmann and Thomas Post of Maastricht University was able to quiz customers of a discount brokerage about how good they felt they were while also gaining access to their trading records.

  • Jan 15- Bank of America Corp said on Wednesday quarterly profit surged by nearly $3 billion as revenue increased and mortgage losses plunged, the clearest sign yet the bank was shaking off the impact of the financial crisis.

  • Jan 15- Bank of America Corp said its quarterly profit surged by nearly $3 billion, as revenue increased and mortgage losses plunged in the clearest sign yet the bank was shaking off the impact of the financial crisis. The purchase has cost Bank of America more than $45 billion in writedowns and legal settlements.

  • Jan 15- Bank of America Corp, the No.2 U.S. bank, reported a stronger-than-expected quarterly profit, driven by a steep fall in mortgage losses and provisions to cover bad loans. Bank of America joins JPMorgan Chase& Co and Wells Fargo& Co in reporting better-than-expected quarterly earnings.

  • Although Spanish builders including Sacyr and FCC have made progress on cleaning up their balance sheets and looking for business abroad, the domestic market property market they depend on is still in free fall.

  • BOSTON, Jan 15- Women hedge fund managers have outperformed their male rivals, on average, for the second year in a row, according to professional services firm Rothstein Kass which tracks the industry.

  • BOSTON, Jan 14- QFS Asset Management, which used a quantitative approach to global macro investing, said that it is shutting down after 26 years in the business, citing difficult market conditions.

  • Jan 13- Citigroup's former Chief Operating Officer John Havens has been appointed as non-executive chairman of Napier Park Global Capital LLC, the hedge fund spun out of the bank last year. Napier Park, which has about $5.5 billion in assets under management, was spun out of Citigroup last year and the bank retains a minority stake in it.

  • Jan 13- Legg Mason Inc estimated third-quarter earnings above analysts' expectations as assets under management grew by about $30 billion from the same quarter the year before. The fifth-largest U.S. asset manager said it expects net earnings of between $79 million and $83 million, or 65- 68 cents per share, for the quarter ended Dec. 31.

  • Jan 13- Asset manager Legg Mason Inc said it estimated earnings of between $79 million and $83 million for the quarter ending Dec. 31, above the average analyst estimate. The company said earnings would be between 65 cents and 68 cents, beating the average analyst estimate of 60 cents, according to Thomson Reuters I/B/E/S.

  • LONDON/ PARIS, Jan 10- Spanish, Italian and Portuguese equities have been star performers in 2014 so far, but not everyone is convinced, and bets on a future retreat in the euro zone periphery are rising.

  • Jan 9- The chief investment officer of Calpers, California's $282 billion pension fund for public employees, is taking leave to resume cancer treatment, a spokesman said on Thursday. Ted Eliopoulos, senior investment officer for real assets, will serve as acting chief investment officer, Calpers spokesman Brad Pacheco said.

  • NEW YORK, Jan 9- Apollo Global Management LLC said on Thursday it had completed fundraising for its latest flagship global private equity fund, amassing $17.5 billion from investors, the most any such fund has raised since the financial crisis.

  • Jan 9- BlackRock Inc, the world's largest asset manager, agreed to end its analyst survey program worldwide, as part of an agreement reached Wednesday with the New York Attorney General's office. BlackRock agreed to pay $400,000 for the cost of the investigation, but no fine or penalty, and to cooperate in Schneiderman's ongoing industry-wide probe.

  • *China funds score best outperformance in 5 yrs. HONG KONG, Jan 10- For investors in Asian hedge funds, it was China and not the region's hottest major market, Japan, that provided the best bang for the buck in 2013- a result set to ensure greater capital inflows into steadily growing China- focused funds.

  • Jan 9- BlackRock Inc, the world's largest asset manager, agreed to end its analyst survey program worldwide, as part of an agreement reached Wednesday with the New York Attorney General's office. BlackRock agreed to pay $400,000 for the cost of the investigation, but no fine or penalty, and to cooperate in any investigation related to the probe.

  • Fund managers like Daniel Loeb, who demanded that Sotheby's fire its CEO, and David Einhorn and Carl Icahn, who publicly pressed for change at iPhone maker Apple Inc, helped their firms' 2013 returns.

  • Since hedge fund portfolios often include at least some derivatives trading, industry experts warn that fund sponsors may be reluctant to take advantage of the SEC's new relaxed advertising rules for fear of running afoul of the CFTC's regulations. This is really language that is very clearly tied to the SEC's standards.

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