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Asset Management and Custody Banks

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  • SHANGHAI, Dec 13- A planned insurance fund for China's trust industry will have an initial size of around 40 billion yuan, the state-owned China Securities Journal reported on Saturday, citing unidentified officials from the banking regulator. The fund, the first of its kind, will mark the capstone of Beijing's long campaign to insure all of China's financial...

  • NEW YORK, Dec 12- UBS AG's Wealth Management America on Thursday made it easier for brokers to earn a key bonus in 2015 under its revised compensation package, which could boost top advisers' overall pay to an all-time high. "It's the most we've ever created for advisers to earn," said Jason Chandler, head of UBS's Wealth Management Advisor Group for the eastern United...

  • The Dow industrials and major European equity indexes posted their biggest weekly losses in three years, as shares in Europe fell more than 2 percent and stocks on Wall Street, with the exception of Nasdaq, fell nearly as much. In Europe, the sell-off gathered pace in late trading, and the same occurred just before the end of U.S. trading. The fact that oil can't find a...

  • LONDON, Dec 12- The acrimonious divorce of Britain's most generous philanthropists, hedge fund billionaire Christopher Hohn and his estranged wife Jamie Cooper-Hohn, could lead to a split of one of the largest private charities in the world. "I am aware... that there have been discussions about the possibility of diverting funds from the UK Foundation into the U.S....

  • NEW YORK, Dec 12- The relentless slide in oil prices pressured energy stocks and currencies exposed to crude exports on Friday, while dampening appetite for riskier assets and encouraging investors to seek safety in core government bonds. The price of Brent crude fell to lows last seen in July 2009, with the global oil benchmark slipping toward $62 a barrel on...

  • European shares set for biggest weekly loss in 3 years Friday, 12 Dec 2014 | 11:11 AM ET

    The broad STOXX Europe 600 has lost 5.2 percent during the week, representing a wipeout in market capitalisation of roughly $468 billion, nearly twice the size of Greece's GDP. Saipem dropped 5 percent on Friday, hitting a 10- year low, while Royal Dutch Shell was down 2.4 percent, Repsol down 4.8 percent and CGG down 4.6 percent. Crude has dropped more than 45...

  • PARIS, Dec 12- European stocks tumbled again on Friday, leaving them on course for their biggest weekly loss since May 2012 as shares in oil and oil services firms sank further along with crude oil prices. Saipem dropped 4.2 percent on Friday, hitting a 10- year low, while Royal Dutch Shell was down 2.4 percent, Repsol down 2 percent and CGG down 6.2 percent.

  • SHANGHAI, Dec 12- China published rules on Friday governing the management of an insurance fund planned for its $2.1 trillion trust industry, a move to reduce financial risk in shadow banking. The fund, the first of its kind, will mark the capstone of Beijing's long campaign to insure all of the country's financial industries, preparing the way to allow more...

  • BOSTON, Dec 11- Fewer hedge funds opened in the third quarter of 2014 than in any other quarter in a year, according to data released on Thursday by industry research firm Hedge Fund Research. Assets managed by the industry reached a record $2.82 trillion at the end of third quarter, HFR said. Earlier this year, Herb Wagner launched Finepoint Capital after leaving...

  • *UAE, Qatar, Oman tumble in panic sell-off. *Dubai posts biggest daily loss in six years. DUBAI, Dec 11- Gulf stock markets fell sharply on Thursday as panic selling spread across the region after oil dropped to a fresh five-year low; Dubai's main index sank 7.4 percent, its biggest daily loss in six years.

  • SHANGHAI, Dec 11- China stocks fell on Thursday on concerns over market liquidity after a slew of new listings were approved, and trading volumes continued to plummet from an all-time high on Dec 9. China's securities regulator approved ahead of schedule 12 IPOs late on Wednesday, a move which could cool a blistering rally in the country's stock markets which has...

  • SHANGHAI, Dec 10- "High leverage, low thresholds!" The website, Jinfuzi.com, will let investors borrow up to 10 times their principal with only 2,000 yuan down in order to buy stocks and futures. Ordinary investors, who conduct 60-80 percent of China's stock trades, charged into the market after a surprise interest rate cut by Beijing on Nov. 21, and brokerages and...

  • Dec 9- Canadian fund manager AGF Management Ltd said it would slash its quarterly dividend by 70 percent to 8 Canadian cents per share, the first cut in more than two decades, sending its shares down more than 17 percent to a more than five-year low. AGF, one of Canada's largest independent fund managers, maintained its dividend of 27 Canadian cents per share for the...

  • Dec 9- Canadian fund manager AGF Management Ltd said it would slash its quarterly dividend by 70 percent to 8 Canadian cents per share, the first cut in more than two decades, sending its shares down more than 20 percent to a more-than five-year low. AGF, one of Canada's largest independent fund managers, maintained its quarterly dividend of 27 Canadian cents per...

  • LONDON, Dec 9- Financial watchdogs are having to revise plans to regulate the world's biggest investment funds because original proposals would have made it more difficult for asset managers to invest in infrastructure projects that are key to reviving growth. David Wright, secretary general of the International Organization of Securities Commissions, an...

  • BlackRock Inc, the world's largest asset manager, and Manning& Napier are among the managers that use strategies such as shorting stocks and trading derivatives in their target-date funds. J.P. Morgan Asset Management and Voya Investment Management are considering adding similar strategies, executives told Reuters. About 41 percent of 401 plan...

  • BlackRock Inc, the world's largest asset manager, and Manning& Napier are among the managers that use strategies such as shorting stocks and trading derivatives in some 401 retirement plans, including target date funds. J.P. Morgan Asset Management and Voya Investment Management are considering adding similar strategies, executives told Reuters.

  • Nov 5- South African financial services advisory firm Alexander Forbes says it is considering potential buys in countries including Ghana and Tanzania. Oct 8- South African insurer Liberty Holdings says it is in final stages of buying an asset manager in Ghana and is also looking to Ethiopia, Rwanda and Nigeria for potential deals. Oct 2- South African insurer...

  • TORONTO, Dec 5- Ivanhoe Cambridge, the real estate arm of Canada's second-largest pension fund, is looking to re-enter the London office market as part of a broader plan to build up assets in 15 key cities, its top executive said. Ivanhoe, which is active in the London residential market but sold off its sole office asset in the city in August, intends to open a London...

  • National Bank of Canada's profit rises 3 pct Friday, 5 Dec 2014 | 7:34 AM ET

    Dec 5- National Bank of Canada, the country's sixth-largest lender, reported a 3 percent rise in fourth-quarter profit, helped by strong earnings from its wealth management and financial markets businesses. The Montreal- based bank's profit rose to C $330 million, or 91 Canadian cents per share, in the quarter ended Oct. 31 from C $320 million, or 90 Canadian cents, a...