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Asset Management and Custody Banks

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  • NEW YORK, Jan 20- Pacific Investment Management Co said in its 2015 Asset Allocation Outlook report on Tuesday that it has placed an overweight position on global equities, particularly European and Japanese equities, and is underweight on global government bonds and other securities that reflect an exposure to interest rates. U.S. equities, following...

  • *Average actively managed fund down 14.5 pct in 2014. LONDON, Jan 18- After one of the worst years in memory for commodity funds, even the few managers who found a way to make money last year say they expect a difficult start to 2015.. "It's the worst place to be, but a long/short fund still has a lot of opportunities," said Christian Gerlach, portfolio manager at Swiss&...

  • BOSTON, Jan 16- Eric Mindich's $8.5 billion hedge fund, Eton Park Capital Management, is now ready to pick through the debt of beaten-up energy companies, an area it avoided last year as the price of oil tumbled. Eton Park dropped mortgage companies Fannie Mae and Freddie Mac with a big profit before a U.S. judge threw out a lawsuit filed by shareholders to prevent the...

  • NEW YORK, Jan 16- Next week may show whether U.S. stocks are finally undergoing a long-awaited correction or if a recent run of losses are just a bump on the road to more gains. This month, the benchmark index fell five sessions in a row, from Jan. 8 through Jan. 15, shedding more than 3 percent in the process. Oil prices have fallen in half in recent months, trading below $50 a...

  • After SNB shock, "Swiss Made" may mean more expensive Friday, 16 Jan 2015 | 11:37 AM ET

    ZURICH, Jan 16- "Swiss Made" has traditionally stood for quality, precision and reliability. Unlike bigger multinationals based in the country, smaller companies tend to produce a higher proportion of their goods in Switzerland, meaning they lack the spread of costs in other currencies that could mitigate the franc's surge. Small and medium-sized companies...

  • NEW YORK, Jan 16- Jim Chanos, founder of hedge fund firm Kynikos Associates, said on Friday he is betting against the shares of chipmaker Intel Corp.. "We're short Intel," Chanos told cable television network CNBC. Chanos, who has been critical of the personal computer sector and has bet against companies such as International Business Machines Corp and...

  • *Bank of America, Citi fall after results. *Swiss National Bank scraps three-year-old euro cap on franc. "We're probably going to see slowing in the global economy, and it will be very difficult to sail through a global recession without getting touched," said Scott Colyer, chief executive officer of Advisors Asset Management in Monument, Colorado.

  • NEW YORK/ LONDON, Jan 15- Currency speculators, especially 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...

  • 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...