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Asset Management and Custody Banks

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  • TORONTO, Feb 14- The Canada Pension Plan Investment Board, one of the world's biggest pension funds, notched another quarter of strong returns but its chief executive officer said he wishes the fund had been more aggressive when prices were cheap.

  • TORONTO, Feb 13- The profits of Canadian life insurers grew in the fourth quarter, as higher returns from growing wealth management units offset uneven insurance sales, highlighting a shift in business as the companies cut risk in the wake of the financial crisis.

  • TORONTO, Feb 13- Manulife Financial Corp reported a 20 percent rise in fourth-quarter profit as stronger mutual fund sales and a C $350 million gain on the sale of its Taiwan insurance business offset weaker insurance sales, but results still fell short of estimates.

  • BOSTON, Feb 12- Fidelity Investments, the No. 2 U.S. mutual fund company, said on Wednesday that operating profit rose 13 percent to $2.6 billion last year as clients pulled less money from its funds.

  • BOSTON, Feb 12- Fidelity Investments, the No. 2 U.S. mutual fund company, said on Wednesday that operating profit rose 13 percent to $2.6 billion last year as clients pulled less money from its funds.

  • BOSTON, Feb 12- Fidelity Investments, the No. 2 U.S. mutual fund company, said on Wednesday that operating profit rose 13 percent to $2.6 billion last year as clients pulled less money from its funds.

  • Feb 12- The activist investor squaring off with Cliffs Natural Resources Inc named its preferred candidate for chief executive officer on Wednesday and said it plans to nominate enough new directors to form a majority of the iron ore miner's board.

  • Robust bank results help European stocks keep rally alive Wednesday, 12 Feb 2014 | 10:19 AM ET

    *FTSEurofirst 300 and Euro STOXX 50 up 1 pct. PARIS, Feb 12- European stocks climbed on Wednesday, extending their brisk week-long rally, with banking stocks leading the gainers after robust results and on hopes of rising dividends in the sector. The euro zone's blue-chip Euro STOXX 50 index was up 1 percent at 3,108.24 points.

  • Fleming, the head of Morgan Stanley's wealth and asset management businesses, is on the bank board's list of candidates who could potentially succeed Chief Executive James Gorman, according to sources with direct knowledge of the situation. But colleagues and recruiters say he is also a flight risk for Morgan Stanley.

  • LONDON, Feb 11- Brevan Howard, one of the world's biggest hedge fund managers, is to shut its $2.3 billion emerging markets portfolio after a bout of poor performance, a source familiar with the matter told Reuters on Tuesday.

  • NEW YORK, Feb 7- Rengan Rajaratnam, the younger brother of imprisoned hedge fund manager Raj Rajaratnam, urged a U.S. judge on Friday to dismiss insider trading charges leveled against him last year. A grand jury subsequently indicted Rengan Rajaratnam, a former portfolio manager at Galleon, in March 2013 on seven counts of conspiracy and securities fraud.

  • *Apple leads market higher on buyback boost. *Online travel agencies' shares jump after Expedia results. NEW YORK, Feb 7- U.S. stocks climbed on Friday, setting the S&P 500 on track for its first weekly gain in four as a weak reading on the labor market was partly blamed on the weather and traders focused on expectations of further economic strength.

  • *January payrolls disappoint, December revised up slightly. NEW YORK, Feb 7- U.S. stocks edged up on Friday as a weak reading on the labor market was partly blamed on the weather and initial disappointment was replaced with expectations of further economic strength.

  • NEW YORK, Feb 7- Apollo Global Management LLC reported a 37 percent drop in fourth-quarter profit per share on Friday, failing to match its carried interest income from a year ago, yet the result beat most analysts' expectations on stronger fund values.

  • ZURICH, Feb 7- The sharp sell-off in emerging markets has hit growth in Vontobel's asset management business, causing the Swiss bank to miss annual profit expectations and making its targets for this year a stretch, it said on Friday.

  • Apollo's fourth-quarter profit drops 37 percent Friday, 7 Feb 2014 | 7:42 AM ET

    NEW YORK, Feb 7- Apollo Global Management LLC reported a 37 percent drop in fourth-quarter profit per share on Friday despite a big rise in the value of its private equity funds, as it failed to match the carried interest income from a year ago. Economic net income after taxes totaled $1.06 per share, compared with $1.69 a year earlier.

  • NEW YORK, Feb 6- Famed oil bull Andy Hall's hedge fund appeared to suffer notable investor redemptions in January after an 8 percent decline last year, according to a note to investors, a revelation that may add to the debate around a mystifying slump in long-term U.S. crude prices.

  • BOSTON, Feb 6- Och-Ziff Capital Management Group LLC on Thursday reported a sharply higher quarterly profit that beat Wall Street analysts' forecasts after stronger returns at its hedge fund portfolios boosted the company's incentive fee income.

  • NEW YORK, Feb 5- Jennifer Fan, a hedge fund manager specializing in finding relative value in energy and agriculture markets, has joined Millennium Management to continue that strategy after closing her own commodities fund last year, sources said on Wednesday.

  • Feb 5- Investment bank and asset manager Lazard Ltd reported a better-than-expected 35 percent rise in fourth-quarter profit as merger advisory revenue rose in a recovering M&A market. Lazard's financial advisory revenue increased 2 percent from the same quarter last year to $315 million, driven by an 8 percent increase in M&A and other advisory fees.

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