Asset Management and Custody Banks
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NEW YORK, April 23- The world's biggest developed nations, particularly Japan and the United States, have engaged in various efforts to lower interest rates to stimulate consumer demand that some investors have taken to calling a "currency war."
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April 23- Asset manager Janus Capital Group reported a 24 percent rise in first-quarter profit due to lower expenses a charge taken a year ago. For the three months that ended March 31, the Denver company's net income rose to $28 million, or 15 cents per share, from $22.6 million, or 12 cents per share, a year earlier.
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April 22- Credit Suisse Group AG has agreed to sell a private equity business to Blackstone Group, the latest move by an investment bank to sell a business with illiquid assets in order to appease regulators and bolster its balance sheet.
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*Fund manager sees value in Brazil, Mexico bonds and FX. SINGAPORE, April 22- PIMCO, the world's biggest bond investor, picks the Indian rupee and offshore Chinese yuan as pure currency bets and sees value in the bonds as well as the currencies of Brazil and Mexico, a manager of the fund's emerging markets portfolio told Reuters.
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*Dollar/yen reaches 99.90 yen in thin early Asia trade. SYDNEY, April 22- The yen started the new week under pressure, with the dollar just a whisker away from the elusive 100 level, after the Group of 20 countries stopped short of criticising Japan's reflationary policies that have significantly weakened its currency.
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*Market ahead of itself in anticipating Japan outflows. "A move to say, sort of 105 or thereabouts, is very much on the cards," said Christopher Brandon, managing director for Rhicon Currency Management, a Singapore- based fund with about $350 million in assets under management.
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Hedge funds plowed new money into gold even after it posted a record loss last week, according to trading data that also showed inflows for many other commodities.
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The net long money held by money managers across 22 U.S.-traded commodities rose nearly $950 million, or 6 percent, to $56.5 billion in the week ended April 16, according to Reuters calculations of data released by the Commodity Futures Trading Commission.
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TORONTO, April 19- Barrick Gold Corp, already under pressure from setbacks at its largest development project and a slump in the price of gold, now faces a shareholder revolt over a "troubling" payment to a member of its board.
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April 19- The streets of Boston's financial district, usually bustling, were empty on Friday as a virtual lockdown for a police manhunt disrupted the largest center for U.S. mutual funds and affected trading across markets. About 20 percent of the nearly $15 trillion of U.S. mutual funds and exchange-traded funds are managed out of Boston, according to Lipper.
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TORONTO, April 19- A group of Canada's largest pension funds said on Friday it will vote against Barrick Gold Corp's planned signing bonus for the man tipped as its next chairman and against the election of the gold miner's compensation committee.
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Eaton Vance Corp, a fund manager overseeing $255 billion, and Citigroup Inc advised their employees dealing with institutional customers to work from home. With public transit shut down, "the only way anyone can get to work is drive or walk, if they live nearby," said Robyn Tice, an Eaton Vance spokeswoman. "
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Mesh Tandon, the head of Simran Capital Management, neither admitted nor denied the findings by the U.S. Securities and Exchange Commission. The SEC said he will pay $121,698 in penalties, interest and disgorgement of ill-gotten gains.
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BOSTON/ NEW YORK, April 18- Hedge fund manager. John Paulson's Advantage Fund is losing money again this month in the wake of a sharp selloff in gold, a source familiar with the numbers said on Thursday.
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*Spain sees successful debt sale on rate cut hopes. NEW YORK, April 18- Stock markets around the world dipped on Thursday, fluctuating between gains and losses as investors worried about the economic outlook following weak U.S. data but also looked for a rebound from recent declines.
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NEW YORK, April 18- Morgan Stanley's wealth management business plans to grow revenue by lending more of its customer deposits, but the bank is growing its loan book slowly to avoid taking on excessive risk, Chief Financial Officer Ruth Porat said on Thursday.
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BOSTON, April 18- Hedge fund manager John Paulson's Advantage Fund is losing money this month in the wake of a sharp sell-off in gold. Paulson's Advantage Fund, one of the $18 billion firm's best-known portfolios, has lost 2.4 percent in the first two weeks of April but is still up for the year, a source familiar with the numbers said on Thursday.
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April 18- Blackstone Group LP, the world's largest alternative asset manager, reported a 28 percent rise in first-quarter profit on Thursday as its real estate, private equity, credit and hedge fund units successfully sold assets. This translates into 55 cents per share, a penny above the average forecast of analysts polled by Thomson Reuters.
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*Adj EPS 61 cents vs Street view 57 cents. April 18- Morgan Stanley reported a stronger-than-expected first-quarter profit of $958 million, compared with a year-earlier loss of $119 million, as its wealth management business grew.
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April 18- Blackstone Group LP, the world's largest alternative asset manager, reported on Thursday a 28 percent rise in profit in the first quarter of 2013, as its private equity, real estate, credit and hedge fund units successfully sold assets.