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Asset Management and Custody Banks

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  • NEW YORK, April 16- Bank of America's wealth management businesses slowed in the first quarter, with profit at its Merrill Lynch brokerage and U.S. Trust private banking units slipping 6.5 percent to $729 million from $777 million in the last quarter of 2013..

  • BOSTON, April 16- American Funds, one of the largest U.S. mutual funds families, sent an email to 825,000 shareholders on Wednesday advising them to change user names and passwords, citing "a very narrow window of risk" related to the "Heartbleed" Internet threat.

  • April 16- London- based Armajaro Asset Management lost nearly a quarter of assets at its largest commodities fund in the first quarter, the latest sign that edgy investors have continued to withdraw cash from the sector after weak returns, documents show.

  • April 16- London- based Armajaro Asset Management lost nearly a quarter of assets at its largest commodities fund in the first quarter, the latest sign that edgy investors have continued to withdraw cash from the sector after weak returns, documents show.

  • LONDON, April 16- United Nations economists who previously called for government intervention to tame volatile swings in commodity prices say banks and hedge funds have since reduced their influence to the lowest level since 2008..

  • Data from industry tracker Eurekahedge showed hedge funds in Europe managed a record $476.2 billion by the end of March, surpassing the previous high of $473 billion hit in October 2007, as investors look to tap into the region's gradual recovery.

  • LONDON, Apr 15- Investors cut extreme bets against emerging markets in April as improving Chinese growth expectations and cheap valuations attracted asset managers to the riskier asset class, a survey showed on Tuesday.

  • Loeb's $14.5 billion hedge fund Third Point currently owns a 9.6 percent stake in Sotheby's and started a proxy contest earlier this year, putting Loeb and two other people forward as directors.

  • *Yangtze region powered China's growth during boom years. SUZHOU, China, April 15- Suzhou, an ancient city in Jiangsu province 100 km west of Shanghai, lives in legend as one of China's most beautiful, famous for its elegant gardens and charming canals.

  • April 14- TIAA-CREF, a retirement services provider to non-profit organizations such as universities and hospitals, said it would acquire asset manager Nuveen Investments for $6.25 billion, seeking to expand its mutual fund and municipal bond offerings. Lazard Ltd and J.P. Morgan Securities LLC advised TIAA-CREF.

  • April 14- Asset manager TIAA-CREF will buy rival Nuveen Investments for $6.25 billion including debt, the Wall Street Journal reported, quoting top executives from both companies. The transaction, set to be officially announced Monday, would create a firm with nearly $800 billion under management, the Journal reported.

  • "There's skepticism among investors about the outlook, and we're getting into the first-quarter earnings season, so you're going to see some positioning," said Brian Jacobsen, chief portfolio strategist at Wells Fargo Funds Management in Menomonee Falls, Wisconsin.

  • NEW YORK/ BOSTON, April 11- The U.S. Federal Bureau of Investigation is probing Herbalife Ltd, the nutrition and weight loss company that hedge fund manager William Ackman has called a pyramid scheme, sources familiar with the investigation said on Friday.

  • *Long-term structural problems in emerging markets remain. LONDON, April 11- Institutional investors are being selective in their return to emerging markets after a heavy sell-off, as there are too many pitfalls for a long-term portfolio to make a winning strategy out of simply buying cheap.

  • LONDON, April 11- A shift by investors' back into emerging market assets gathered pace over the last week, with China and Russia seeing some of the biggest demand as EM inflows reached their highest rate in over a year.

  • In total, SAC Capital has agreed to pay $1.8 billion to resolve criminal and civil probes into insider trading. SAC Capital also agreed to be placed on probation for five years, and employ a compliance consultant, former federal prosecutor Bart Schwartz.

  • TORONTO/ VANCOUVER, April 10- Goldcorp Inc raised its hostile takeover offer for Osisko Mining Corp on Thursday, squeaking above a white knight bid by Yamana Gold Inc and heightening a bidding war that has helped inject life into a depressed gold mining sector.

  • BOSTON, April 10- Fidelity Investments said on Thursday it is exploring the creation of a new trading venue with other asset managers, as U.S. regulators investigate the controversial practice of high-frequency trading.

  • Big hedge funds bought Puerto Rico's junk bonds - WSJ Thursday, 10 Apr 2014 | 12:57 AM ET

    April 10- Several large hedge funds doubled down on Puerto Rico in last month's giant bond sale despite the U.S. territory's financial struggles, the Wall Street Journal reported, citing confidential documents reviewed by the newspaper.

  • U.S. commodity ETFs fall for fifth quarter -Lipper Wednesday, 9 Apr 2014 | 3:35 PM ET

    NEW YORK, April 9- U.S. retail and institutional investors pulled cash from broad commodity exchange-traded funds for a fifth straight quarter even as coffee, natural gas and hogs prices had their best run in years, data from Thomson Reuters Lipper showed on Wednesday.