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Asset Management and Custody Banks

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  • NEW YORK/ LONDON, Jan 15- Currency speculators, particularly large global macro hedge funds with big short positions in the Swiss franc, are staring massive losses in the face after the Swiss National Bank shocked markets on Thursday by removing a three-year-old cap on the currency. "You have these massive policies which forced all investors to invest with the...

  • Jan 15- BlackRock Inc, the world's largest money manager, reported a higher-than-expected quarterly profit as assets under management increased. The 2014 net inflows represent a 55 percent jump from the prior year and a record for BlackRock. "While the magnitude of the flows was quite large, it is the composition of the flows that was really interesting,"...

  • BlackRock's earnings beat Wall Street estimates Thursday, 15 Jan 2015 | 7:44 AM ET
    Larry Fink, Chairman and CEO of BlackRock.

    BlackRock, the world's largest money manager, reported a higher-than-expected fourth-quarter profit as assets under management increased.

  • Jan 15- BlackRock Inc, the world's largest money manager, reported a higher-than-expected fourth-quarter profit as assets under management increased. Of the $87.8 billion that investors poured into BlackRock's long-term funds during the quarter, half went into the iShares exchange-traded fund business, which ended the quarter with $1 trillion.

  • Copper "is reflecting new and ominous signs about the health of China's economy. Copper "for nothing," said Jeffrey Gundlach, co-founder of DoubleLine Capital, which oversees $64 billion in assets under management. To Daniel Alpert, founding managing partner of investment banking firm Westwood Capital LLC, the plunge in the price of oil, and now copper, is a clearer...

  • Jan 14- A former top executive of Steven Cohen's SAC Capital Advisors LP is close to launching a roughly $1 billion hedge fund in March, the Wall Street Journal reported. Solomon "Sol" Kumin, who was SAC's chief operating officer until January last year, has raised about $1 billion for his Folger Hill Asset Management LLC, the Journal said, citing a person familiar...

  • FRANKFURT, Jan 14- Deutsche Bank is considering splitting off its retail division and listing it on the stock exchange should German lawmakers approve measures forcing banks to isolate risky trading activities, a person with knowledge of the discussions said. Under this scenario, Deutsche would keep investment banking and asset management while floating...

  • Jan 13- The California Public Employees' Retirement System, America's largest public pension fund, announced on Tuesday that its finances improved significantly in the last fiscal year, mainly due to strong investment returns. In its 2014 Comprehensive Annual Financial Report, or CAFR, Calpers says it had an estimated funding level of 77 percent by June 30.

  • MONTREAL, Jan 13- Canada's second-largest pension fund will finance, develop and operate major infrastructure projects for the cash-strapped province of Quebec under a deal announced on Tuesday that highlights the appetite of such funds for long-term revenue generating assets. Caisse de depot et placement du Quebec, which manages funds for Quebec's...

  • MONTREAL, Jan 13- Quebec's largest pension fund said on Tuesday it struck a deal with the cash-strapped provincial government to finance, develop and operated major infrastructure projects, highlighting the appetite of such funds for unconventional assets.

  • *Oil importer Egypt outperforms; GB Auto soars again. Brent crude fell to its lowest level in almost six years and traded below $46 per barrel on Tuesday as the United Arab Emirates defended OPEC's decision not to cut output to tackle a glut in the market. "The markets fell very steeply in the fourth quarter and hence investors think there is value in this market," said...

  • NEW YORK, Jan 12- Pacific Investment Management Co has named Marc Seidner, chief investment officer for non-traditional strategies, lead portfolio manager of the Pimco Unconstrained Bond Fund, the firm said in a regulatory filing on Monday. However, the Pimco Unconstrained Bond Fund, which co-founder Bill Gross took over in December 2013 up until his stunning...

  • Jan 12- A group of hedge fund creditors of Caesars Entertainment Corp sought on Monday to force its main operating unit into bankruptcy and to appoint an independent examiner to investigate what they allege was the plundering of the company. The involuntary bankruptcy petition was filed by affiliates of Appaloosa Management, Oaktree Capital Management and...

  • LONDON, Jan 12- Hedge funds have raised the number of their bets on a rise in the price of Brent crude to the highest since July, data showed on Monday, as speculators position for a possible rebound in oil prices following a near 60 percent collapse. Funds and other large speculators have been adding to positions betting on higher prices since October, even as prices...

  • *Egypt's GB Auto soars on rights issue, investment plans. DUBAI, Jan 12- Gulf stock markets ran out of steam on Monday after several strong sessions as oil prices fell by more than $1 a barrel, although positive fourth-quarter corporate earnings supported individual stocks. Brent crude traded below $49 after analysts at Goldman Sachs cut their average forecast...

  • LONDON, Jan 12- Hedge funds have raised their bets on a rise in the price of Brent crude to the highest since July, data from ICE showed on Monday, as speculators position for a possible rebound in oil prices following the near 60 percent collapse in the last seven months. That is the biggest net long, or the difference between bets on rising and falling prices, since...

  • Judge Victor Marrero of U.S. District Court in Manhattan wrote in an opinion that granting Stefan Buck a hearing in his absence while he remained in Switzerland would encourage others to flee prosecution. Buck, who was head of private banking at Zurich- based Bank Frey& Co, asked for a bail hearing in November in an unusual court filing through his New York lawyer.

  • Roughly two years after promising to donate his personal winnings from his controversial $1 billion bet against nutritional and weight-loss company Herbalife Ltd., the hedge fund titan is making good on the pledge with a $10 million donation to a scholarship charity, his foundation said. Herbalife stock closed 2015' s first week of trading down 12 percent at...

  • NEW YORK, Jan 9- The Janus Global Unconstrained Bond Fund, which Pimco co-founder Bill Gross started managing in October, attracted $176 million of inflows in December, down considerably from an estimated $770 million in the previous month, according to Morningstar data released on Friday. Janus Capital Group Inc drew overall inflows of $440 million in...

  • Vanguard execs issue warning on risks of deflation Friday, 9 Jan 2015 | 7:26 AM ET

    Executives at Vanguard Group warned that deflation is a real risk for the global economy while downplaying inflation concerns for the United States.