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Asset Management and Custody Banks

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  • May 27- Focus Financial Partners LLC said its Rochester, New York- based partner firm, LVW Advisors, hired two veteran advisers from Wells Fargo Advisors to launch a wealth management service for affluent families.

  • LAS VEGAS, May 26- As a $14.8 billion hedge fund with a reputation for savvy mortgage trades and a record of double-digit returns, Pine River Capital Management has long signed up multi-billion-dollar pension and sovereign wealth funds as investors.

  • CPPIB, which manages Canada's national pension fund, said on Thursday its assets rose to a record C $219.1 billion at the end of fiscal 2014, as its investment portfolio returned 16.5 percent for the year ended March 31.

  • LONDON, May 23- BlackRock, the world's biggest asset manager, said on Friday one of its main bond funds had cut its holdings of peripheral euro zone government debt to their lowest since the height of the crisis.

  • May 22- Three former executives of New Stream Capital LLC, a failed Connecticut hedge fund, have pleaded guilty to conspiring to mislead their clients to keep their largest investor, federal prosecutors said on Thursday.

  • Concentrated mutual funds pullling in assets, not returns Thursday, 22 May 2014 | 12:14 PM ET

    NEW YORK, May 22- Investors have been flocking to highly concentrated stock mutual funds in the hope that more daring bets will produce bigger returns, but it hasn't worked out that way.

  • TORONTO, May 22- Royal Bank of Canada and Toronto-Dominion Bank topped second-quarter estimates on the back of low loan-loss provisions and stronger retail lending and wealth management income, spurring shares of Canada's top two banks to all-time highs on Thursday.

  • UPDATE 1-TD Bank profit rises on strong retail lending Thursday, 22 May 2014 | 9:28 AM ET

    TORONTO, May 22- Toronto-Dominion Bank said on Thursday that its quarterly profit rose 16 percent as recent credit card and wealth management acquisitions boosted Canadian and U.S. retail lending.

  • NEW YORK, May 21- Thailand's political turmoil over the last six months has caused a backlog of roughly 200 foreign investment projects awaiting government approval, the equivalent of about $12.3 billion, a senior government official said on Wednesday.

  • FRANKFURT, May 21- Hedge fund Magnetar Capital is suing U.S. drugs wholesaler McKesson, saying its acquisition of German peer Celesio short-changed minority shareholders and bondholders by around 370 million euros.

  • May 21- Asset manager Eaton Vance Corp's quarterly profit rose nearly 18 percent as it earned higher fees from its investment advisory and administrative services, sending its shares up more than 4 percent in early trading. Excluding items, Boston- based Eaton Vance earned 59 cents per share.

  • Eaton Vance profit rises 18 pct on higher advisory fees Wednesday, 21 May 2014 | 9:05 AM ET

    May 21- Asset manager Eaton Vance Corp's quarterly profit rose nearly 18 percent, as it earned higher fees from its investment advisory and administrative services. Net income attributable to the company's shareholders rose to $74.9 million, or 59 cents per share, in the second quarter ended April 30, from $63.7 million, or 50 cents per share, a year earlier.

  • HONG KONG, May 20- Demand to pull out money from hedge funds rose to five month high in May as investors looked to adjust their portfolios ahead of the mid-year point. The bulk of the activity in May represented typical semi-annual requests, Bill Stone, chairman and chief executive of SS&C Technologies, said in a statement.

  • *China steps up help for export industry. SYDNEY, May 20- Copper clung near two-month peaks on Tuesday on hopes a new raft of financial reforms would shore up China's slowing economy, while nickel prices sank in volatile trade despite supply concerns.

  • METALS-Nickel climbs again, copper near 2-mth peak Monday, 19 May 2014 | 9:31 PM ET

    SYDNEY, May 20- Nickel on Tuesday extended gains from the day before on supply concerns as Chinese consumers run down stocks given a ban on Indonesian ore exports, while copper clung close to two-month peaks on hopes China's financial reforms would shore up its slowing economy.

  • May 20- The London Stock Exchange Group Plc has emerged as the preferred bidder for asset management group Russell Investments, the Financial Times reported, citing people familiar with the discussions.

  • COLUMN-For investors, coal brings lumps Monday, 19 May 2014 | 12:40 PM ET

    CHICAGO, May 19- If you care about the environment, you can emulate Stanford University's move to remove coal-producing companies from its endowment portfolio by purging fossil fuel companies from your own investments, although it will take a customized strategy.

  • *Q1 commodity assets under management up 10 pct- Citi. Revenue from commodities for the leading banks in the first quarter rose to $1.8 billion from $1.4 billion in the same period last year, London- based financial industry analytics firm Coalition said in a report on Monday.

  • TOKYO, May 19- Prime Minister Shinzo Abe is moving to shake up oversight of the world's largest pension fund, expanding the board and giving it new power to steer a shift out of Japanese government bonds and into higher-yielding assets, according to two people with direct knowledge of the matter.

  • Alibaba: the new face of finance in China Monday, 19 May 2014 | 4:33 AM ET

    Yu'e Bao, available on smartphones, is conveniently linked to China's biggest online payments platform Alipay, similar to PayPal and owned by an affiliate of e-commerce giant Alibaba Group Holding Ltd. Users can dip directly into Yu'e Bao to pay for goods bought online.