WEST PALM BEACH, Fla. _ Affiliated Managers Group Inc. on Tuesday reported fourth-quarter profit of $150.3 million. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $3.60 per share. Affiliated Managers shares have fallen 17 percent since the beginning of the year.
BOSTON, Dec 23- In the months before the blowup of Third Avenue's junk bond fund in early December, investors and financial advisors called the New York- based investment company to voice their concerns about the growing percentage of hard-to-trade, illiquid assets in the fund's portfolio. "I would call up and they would say,' We're under control, we have plenty of...
The decline in junk bonds is putting pressure on higher quality corporate debt in an energy "daisy chain," billionaire Wilbur Ross tells CNBC.
U.S. stock futures were sharply higher this morning, after Monday's strong gains on Wall Street.
BOSTON, Dec 14- Illiquid assets at Third Avenue Management's junk-bond fund skyrocketed before it imploded last week, underscoring an opaque corner of risk in the mutual fund industry that corporate governance experts worry is not policed by outside directors. The biggest meltdown of a mutual fund since the 2008 credit crisis happened as the U.S. Securities...
Goldman Sachs released a report that discusses the high-yield market's impact on asset managers.
Dec 14- Third Avenue Management LLC said its management committee would lead it going forward, after the investment management company and Chief Executive David Barse mutually agreed to separate. New York- based Third Avenue is a relatively small investment manager with fund assets that totaled $10 billion at the beginning of the year. Third Avenue's Focused...
Dec 13- Third Avenue Management LLC has parted ways with Chief Executive Officer David Barse after the collapse of the company's junk bond fund last week, the Wall Street Journal reported on Sunday, citing sources familiar with the matter. The collapse of Third Avenue's Focused Credit Fund jolted Wall Street and renewed worries about the difficulty of trading...
Oct 13- Global household wealth will grow at 6.6 percent annually, slower than the 7 percent estimated earlier, as the overall economic outlook remains weak, Credit Suisse said. "The United States will remain the undisputed leader with wealth nearing $113 trillion, but its share will decline somewhat to a third of the global total," Credit Suisse said.
*China slowing down, U.S. rate hike bets pushed back. LONDON, Aug 21- Stock markets are slipping the leash from central banks. China's economy, for years the driver of global growth, is slowing alarmingly.
History shows that after the Federal Reserve hikes rates for the first time, this happens to the stock market.
Last week the bond market did something its only done one other time in 45 years. Yet not many people noticed.
Some of Tuesday's midday movers:
Check out which companies are making headlines after the bell Tuesday.
Some of Tuesday's midday movers:
--Abiomed Inc rescheduled second-quarter conference call to Nov. 1 at 8 am Eastern Time. --Accelrys Inc rescheduled third-quarter results to Oct. 31, after market. Its conference call will be held on Nov. 1, 9.30 am Eastern Time.
--Acorda Therapeutics Inc: rescheduled third-quarter financial results and conference call to Oct. 31 from Oct. 30. --Advent Software Inc reschedules third-quarter results and conference call to Oct. 30. --AGCO Corp rescheduled third-quarter results to Oct 31, 8 am Eastern Time from Oct. 30.
*AMG/Permira plan to split up Robeco- sources. *Robeco could fetch more than 2 bln euros- sources. is weighing three offers for its asset management arm Robeco, facing a choice between bids to split the 2 billion euro- plus business or sell it in one piece, people familiar with the situation said.
*Seller Rabobank evaluating the offers for Robeco- sources. *AMG/Permira plan to split up Robeco- sources. *Robeco could fetch more than 2 billion euros- sources.
LONDON/ NEW YORK, Oct 10- Dutch bank Rabobank. is weighing three offers for its asset management arm Robeco as it has to choose between bids to split the 2 billion euro plus business or keep it whole, people familiar with the situation said.