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Asset Management and Custody Banks

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  • LONDON, Jan 8- Commodities were the worst performing asset class for the third year running in 2014.. Investors, including some of the world's largest pension funds, have seen billions of dollars of wealth disappear as a result of investing in commodity index products over the last decade. "Facts and fantasies about commodity futures," first published in 2004 by...

  • Jan 8- New York's financial regulator sent a subpoena to the Medley Opportunity Fund II last week as he investigates the hedge fund's ties to payday lending, Bloomberg reported, citing a person familiar with the matter. Benjamin Lawsky, superintendent of Department of Financial Services, is seeking records from the fund on its investments in payday lenders,...

  • Jan 8- New York's financial regulator sent a subpoena to the Medley Opportunity Fund II last week as he investigates the hedge fund's ties to payday lending, Bloomberg reported, citing a person familiar with the matter. Benjamin Lawsky, superintendent of Department of Financial Services, is seeking records from the fund on its investments in payday lenders,...

  • BOSTON, Jan 7- Vanguard Group Inc plans to publish new details about how it voted at annual shareholder meetings, in a move likely to raise the heat on some of the nation's top companies. It follows the lead of BlackRock Inc, the world's largest asset manager, which ramped up its publishing of similar reports last year. Like BlackRock, Vanguard will not name specific...

  • Jan 7- More than 60 percent of the roughly $1.1 billion raised by Bill Gross for Janus Capital Group Inc came from a Morgan Stanley wealth management office in California, the Wall Street Journal reported on Wednesday, citing industry executives who have viewed confidential brokerage data. The wealth management office in La Jolla, California, which employs one...

  • Jan 7- More than 60 percent of the roughly $1.1 billion raised by Bill Gross for Janus Capital Group Inc came from a Morgan Stanley wealth management office in Southern California, the Wall Street Journal reported, citing industry executives who have viewed confidential brokerage data. Bill Gross left PIMCO to join Janus Capital in September.

  • U.S. hedge fund plans to take on big pharma over patents Wednesday, 7 Jan 2015 | 12:59 PM ET

    OSLO, Jan 7- U.S. hedge fund manager Kyle Bass, who won fame for predicting the subprime mortgage crisis in 2008, plans to take on some of the world's biggest drug producers by challenging the patents of their top brands, he said on Wednesday. Bass, the founder of Dallas- based Hayman Capital Management, L.P., said some drug firms were hanging onto patents in...

  • Jan 7- When Teacher Retirement System of Texas' investment chief learned that his son got an entry-level job at Blackstone Group LP, he checked with his employer about whether he should stay away from the public pension fund's investments in the world's largest alternative asset manager. The pension fund's board decided Britt Harris, 56, should remain...

  • ON THE MOVE-United Capital hires a team of advisers Tuesday, 6 Jan 2015 | 1:13 PM ET

    Jan 6- United Capital Financial Advisers LLC, a unit of wealth management firm United Capital Financial Partners Inc, hired a team of two advisers with about $185 million in client assets. Charles Haynor, president of California- based firm Rayner& Haynor Investment Counselors, will become a managing director at United Capital. The firm's portfolio manager Hugh...

  • Jan 6- Raymond James Investment Advisors, a division of Raymond James Financial Inc, said it hired two advisers from Bank of New York Mellon Corp to form an advisory firm based in Tampa, Florida. Raymond Ifert, who managed $850 million in client assets at BNY Mellon's Tampa office, will head the firm, REI Wealth Management. A spokeswoman for BNY Mellon confirmed...

  • NYC grabs back top spot for global property investors Tuesday, 6 Jan 2015 | 12:01 PM ET

    Jan 5- New York City regained its top position among global commercial real estate buyers, unseating London and highlighting the appeal of U.S. properties in general, according to a survey of international investors released Tuesday. In the U.S., investors' top pick of New York was followed by San Francisco, Houston, Los Angeles and Washington, D.C., respectively.

  • LONDON, Jan 6- Energy hedge fund Andurand Capital returned 38 percent in 2014 betting on the collapse in oil prices, a source familiar with the matter said on Tuesday, emerging as one of the biggest winners from the near halving in crude since June. French fund manager Pierre Andurand, who made his name in 2008 by calling the sharp rise and subsequent collapse in oil...

  • LONDON, Jan 6- Oil hedge fund Andurand Capital returned 37.9 percent in 2014 betting on lower crude prices, a source familiar with the matter said on Tuesday, emerging as one of the biggest winners from the near halving in prices since June. French fund manager Pierre Andurand, who made his name in 2008 by calling the sharp rise and subsequent collapse in oil prices...

  • The euro fell to a near nine-year low against the dollar of $1.18605 on the EBS platform, tumbling on political uncertainty in Greece and fears of a possible Greek exit from the euro zone. The Greece question was front and center for Paul Nolte, portfolio manager at Kingsview Asset Management. "What you've done is thrown that entire area up for grabs, it will be very...

  • Jan 5- Morgan Stanley said an employee stole data from up to 10 percent of its wealth management clients, including account names and numbers, but there was no evidence of economic loss. Morgan Stanley said information of about 900 clients had been briefly posted on the Internet. Morgan Stanley discovered the theft on Dec. 27 as part of a regular sweep of the...

  • Jan 5- Morgan Stanley said an employee stole data from up to 900 clients of its wealth management division, including account names and numbers, but there was no evidence of economic loss. The bank said the employee had been fired and law enforcement and regulatory authorities had been advised. Morgan Stanley said about 10 percent of its wealth management...

  • Citigroup appointed Shreyas Bordia managing director in its EMEA energy team based in London. Bordia joins from Morgan Stanley, where he was part of the energy team with a primary focus on the E&P and oil field services sectors, Citigroup said in a statement. DeBono, based in London, will focus on risk management and valuation of complex assets at FTI Consulting,...

  • Hedge fund founder, 70, slain in NYC apartment Monday, 5 Jan 2015 | 8:43 AM ET

    A 70- year-old hedge fund founder has been shot dead in his New York apartment.

  • MOVES- Berkshire Partners, Nomura, Avista Advisory Monday, 5 Jan 2015 | 7:10 AM ET

    The buyout firm named Dave Bordeau, Marni Payne and Raleigh Shoemaker managing directors, who, along with 19 other managing directors, will manage the firm and its affiliated investment funds. The bank named Amanda Chen deputy head of its wealth management arm for Asia, ex- Japan. Cheah, who is based in Singapore, joins Avista from BNP Paribas Securities, where she...

  • Jan 5- Global Prime Partners, a brokerage and trading services provider, appointed Andrew Bole as chief operating officer. Bole has more than 15 years of management experience in the industry and joins from IG Group Holdings where he was chief risk officer. Global Prime provides prime brokerage and trading services to hedge funds, asset managers and...