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Asset Management and Custody Banks

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  • June 16- Senate Finance Committee Chairman Ron Wyden has asked the Obama administration why the United States failed to stop a tax-avoidance strategy used by hedge funds, including John Paulson's Paulson& Co, Bloomberg reported.

  • The Securities and Exchange Commission's case against Albany, New York- based Paradigm Capital Management and owner Candace King Weir marks the first time the agency has ever brought charges over whistleblower retaliation- a new authority Congress bestowed on the agency in 2010..

  • *Shell to focus on Gorgon, Prelude LNG in Australia. MELBOURNE, June 17- Royal Dutch Shell launched a long-awaited sale of most of its stake in Australia's Woodside Petroleum Ltd on Tuesday, looking to reap about $5.73 billion as it moves to focus on developing its own gas assets in Australia.

  • The Securities and Exchange Commission's case against Albany, New York- based Paradigm Capital Management and owner Candace King Weir marks the first time the agency has ever brought charges over whistleblower retaliation- a new authority Congress bestowed on the agency in 2010..

  • *Higher oil prices due to Iraq could even benefit Gulf. Markets' reaction to the insurgency in Iraq suggest they may finally have succeeded. At the very least, the turmoil in Iraq looks set to widen the Sunni-Shi'ite divide which has poisoned politics across the region.

  • TOKYO, June 16- A pattern of spending on hostess bars and overseas junkets for local pension fund officials went unchecked by senior managers at Deutsche Bank's Japanese securities arm, who failed to prevent or turned a blind eye to expenses that could be prosecuted as bribery, previously undisclosed details of a regulatory investigation show.

  • Number of asset managers to halve by 2030 - KPMG Sunday, 15 Jun 2014 | 8:01 PM ET

    LONDON, June 16- Half of the firms in the global asset management industry will be gone by 2030 as new technology, demographic shifts and changing social habits transform the industry, consultants KPMG said in a report.

  • LONDON/ PARIS, June 15- Hedge fund bets against selected European stocks are making a comeback, as investors pick apart a multi-year stock rally and question the market's scope to gain from the ECB's campaign to prevent deflation.

  • *Gaim Monaco conference to be held next week. *Meeting is biggest hedge fund get-together in Europe. Boston- based Highfields Capital for instance, which manages billions for big universities and exclusive endowments, gently asks journalists not to call it a hedge fund, preferring asset management firm.

  • American Securities has had advanced discussions with investment banks about merging Metaldyne LLC, HHI Group Holdings LLC and Grede Holdings LLC, and has drawn up plans for a subsequent initial public offering, the people said this week.

  • June 12- Institutional investors having trouble finding bonds for their portfolios from the usual suppliers are accepting a higher degree of risk and pumping billions of dollars into exchange-traded bond funds, boosting asset management firms such as BlackRock, Pimco and State Street.

  • NEW YORK, June 11- For U.S. mutual fund investors, this is shaping up to be a year when it pays to go small. In what mutual fund experts call a rarity, tiny funds with less than $100 million in assets under management are either leading or are among the top three or four best performers in every major U.S. stock category tracked by Morningstar for the year through June 10.

  • BOSTON, June 10- Jane Mendillo, the first woman to run Harvard University's investment arm, will leave at the end of 2014 after guiding the Ivy League school's $32.7 billion endowment through the financial crisis and its aftermath, she said on Tuesday.

  • BOSTON, June 10- The allure of hedge funds grew in April when investors added $18.6 billion in new money to these portfolios, according to a survey, even as their performance again lagged behind stock and bond markets' returns.

  • LONDON, June 9- British hedge fund manager Man Group said on Monday it is buying credit-focused privately held fund of hedge fund firm Pine Grove Asset Management, stepping up a push into the United States.

  • HONG KONG, June 9- Contrary to trends in the West, actively managed stock funds in China are set to become more popular with foreign investors, as moves to open up Chinese markets should give stock pickers an edge over poor performing index trackers.

  • *Hertz Global falls, to restate financial results. NEW YORK, June 6- U.S. stocks rose on Friday, with major indexes extending a rally that has taken them to repeated records, after the May payrolls report provided the latest confirmation that economic conditions were improving.

  • *FTSEurofirst 300 up 0.5 pct, Euro STOXX 50 up 0.9 pct. PARIS, June 6- European shares extended gains triggered by new European Central Bank measures to boost the region's recovery into a second day on Friday, with a euro zone blue-chip index touching a six-year high.

  • *Hertz Global falls, to restate financial results. NEW YORK, June 6- U.S. stocks rose on Friday, with major indexes extending a rally that has taken them to repeated records, after the May payrolls report provided the latest confirmation that economic conditions were improving.

  • *FTSEurofirst 300 up 0.4 pct, Euro STOXX 50 up 0.5 pct. PARIS, June 6- European stocks extended their rally on Friday, spurred by the European Central Bank's fresh measures to boost the region's recovery and as investors anticipated positive U.S. jobs data later in the session. The euro zone's blue-chip Euro STOXX 50 index was up 0.5 percent.