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Asset Management and Custody Banks

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  • NEW YORK, June 18- Institutional investors including BlackRock Inc and Allianz SE's Pimco on Wednesday sued six of the largest bond trustees, accusing them of failing to properly oversee more than $2 trillion in mortgage-backed securities issued in the run-up to the 2008 financial crisis.

  • BOSTON, June 17- Massachusetts' pension fund is pushing to move some of the $5.6 billion it invests with hedge funds into separately managed accounts and may even invest, at a lower cost, in strategies designed to mimic hedge fund returns. But few big investors have been as public about their plans as Massachusetts.

  • NEW YORK, June 18- The high levels of cash that TD Ameritrade customers have been keeping in their brokerage accounts since the 2008-2009 financial collapse is on the decline, a sign of growing confidence in the U.S. stock market, company executives said at Reuters Wealth Management Summit on Wednesday.

  • But the judge, who has been presiding for more than a decade over litigation between Argentina and hedge funds that refused to exchange defaulted bonds, seemed more interested in a fiery speech on Monday night by Argentine president Cristina Fernandez de Kirchner, in which she said the country would not submit to "extortion" by the hedge funds; and by a second speech Tuesday by the Argentine economy minister, who disclosed plans to restructure bonds to avoid "attachments."

  • NEW YORK, June 18- Just because the one-time billionaire hedge fund manager Raj Rajaratnam engaged in insider trading doesn't mean his younger brother did as well, a lawyer for Rengan Rajaratnam told jurors on Wednesday.

  • *Wants UBS to split wealth management, investment bank. MONACO, June 18- Eric Knight, chief executive of activist fund manager Knight Vinke, believes Swiss bank UBS will eventually follow his advice and split its wealth management business from its investment bank.

  • NEW YORK, June 18- Lawyers for Argentina and for hedge funds that did not take part in its debt restructuring are scheduled to appear in federal court in New York on Wednesday in what could be a last-ditch attempt by the country to avoid default.

  • NEW YORK, June 18- Lawyers for Argentina and for hedge funds that refused to take part in its debt restructuring after its catastrophic 2001-02 default are scheduled to appear in federal court in New York on Wednesday afternoon, two days after the U.S. Supreme Court declined to hear the country's appeal, a court official said.

  • INTERVIEW-Knight Vinke sees UBS moving towards break up Wednesday, 18 Jun 2014 | 8:32 AM ET

    *Wants UBS to split wealth management, investment bank. MONACO, June 18- Eric Knight, CEO of activist fund manager Knight Vinke, believes Swiss bank UBS will eventually follow his advice to split its wealth management business from its investment bank.

  • NEW YORK, June 17- Jurors were selected Tuesday in the trial of Rengan Rajaratnam, a former Galleon Group hedge fund manager accused of conspiring with his older brother, Raj Rajaratnam, to engage in insider trading.

  • Jury selection begins in trial of Rajaratnam's brother Tuesday, 17 Jun 2014 | 10:50 AM ET

    NEW YORK, June 17- Jury selection began on Tuesday in the trial of Rengan Rajaratnam, a former Galleon Group hedge fund manager accused of conspiring with his older brother, Raj Rajaratnam, to engage in insider trading.

  • J.P. Morgan launching its first exchange-traded fund Tuesday, 17 Jun 2014 | 9:53 AM ET

    NEW YORK, June 17- J.P. Morgan Chase& Co is launching its first exchange-traded fund on Tuesday as the Wall Street bank's asset management business makes its debut in the $1.8 trillion U.S. exchange-traded fund arena.

  • 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.