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Asset Management and Custody Banks

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  • 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.

  • TOKYO, June 6- Japanese Prime Minister Shinzo Abe pressed the world's biggest pension fund on Friday to quicken a shift toward investing more in stocks and less in bonds amid market speculation the fund may already have started moving cash into riskier assets.

  • June 5- Dutch bank ING aims to list its insurance arm within two months, it said on Thursday, in one of the biggest European public share offers of the year which will complete the bank's enforced reformation since its state bail-out five years ago.

  • June 5- Dutch bank ING aims to list its insurance arm in the next two months via a public share offer, it said on Thursday, the last major step it needs to take in its reformation since being bailed out by the Dutch state during the financial crisis.

  • NEW YORK, June 5- U.S. stock and bond markets have risen in tandem all year as investors in each found reasons to support their views: stocks are up on signs the economy is improving, and bonds have gained on expectations for low inflation and relatively slow growth. The benchmark Standard& Poor's 500 set multiple records in the last few weeks, while the Barclays U.S.

  • NEW YORK, June 4- Famed cocoa trader Anthony Ward's niche commodities fund is up 28 percent through April, after riding the bull run in arabica coffee as a drought in Brazil, the world's No. 1 producer, raised concerns about tightening supplies.

  • June 4- Stifel Financial Corp said it would buy asset manager Legg Mason Inc's investment advisory unit to expand its wealth management business. Legg Mason's chief executive Joseph Sullivan, who was put at the helm in February last year, has been trying to reverse a long record of net quarterly withdrawals by customers tied to past performance problems.

  • Stifel Financial to buy Legg Mason Investment Counsel Wednesday, 4 Jun 2014 | 7:16 AM ET

    June 4- Stifel Financial Corp said it would buy Legg Mason Investment Counsel& Trust Co from asset manager Legg Mason Inc for an undisclosed price. LMIC will become part of Stifel's global wealth management business. The deal is expected to close in the fall of 2014..

  • BOSTON, June 3- William Ackman's Pershing Square Capital Management flagship hedge fund rose 2.9 percent in May, bringing it to a 22.1 percent gain so far this year and putting it ahead of most rivals, according to two investors in the fund.

  • NEW YORK, June 3- Activist investor Carl Icahn acquired about $51 million in the common shares of mortgage financiers Fannie Mae and Freddie Mac from mutual fund manager Fairholme Funds Inc in March, a court filing showed on Tuesday.

  • *GPIF's portfolio larger than Mexico's economy. TOKYO, June 3- Japan's public pension fund, the world's biggest, could raise its investment in domestic stocks to 20 percent of its portfolio from the current 12 percent, a top official with the fund was quoted as saying on Tuesday.

  • June 2- Stifel Financial Corp said its broker-dealer subsidiary, Stifel, Nicolaus& Co Inc, hired two financial advisers from UBS Securities for its Santa Rosa, California office. Todd Frediani and Larry Stater, who partnered to form Redwood Wealth Management in 2010, have more than 58 years of combined investment industry experience, Stifel said.

  • June 2- The Institute for Supply Management corrected its key manufacturing activity index for May to 55.4, nearly in line with expectations, after economists on Monday said the original release's reading of 53.2 was incorrect.

  • June 2- The Institute for Supply Management's manufacturing index for May, originally reported at 53.2, will be corrected to show a faster acceleration in factory activity last month, CNBC said on Monday, citing ISM as the source.

  • *Majority of money held in funds worth more than $1 billion. LONDON, June 1- The world's biggest hedge funds are managing more money than ever before- even while the returns they provide look less attractive compared to those achieved by younger, smaller firms.

  • NEW YORK, May 30- The U.S. Securities and Exchange Commission suffered a loss on Friday in a long-running case against a New York hedge fund manager and two others accused of engaging in a $1.3 million insider trading scheme.