×

Capital Markets Asset Management and Custody Banks

  • TOKYO, Aug 7- U.S. hedge fund King Street Capital Management owned a stake of 5.81 percent in Toshiba Corp as of July 31, according to a Japanese securities filing by the fund. King Street Capital bought the stake for investment purposes, the filing said. Shares in Toshiba jumped 6 percent on Monday following media reports that the firm may gain a partial endorsement...

  • ZURICH, Aug 7- Deutsche Bank dropped out of the world's top 15 private banks in 2016, a year marked by negative headlines for Germany's biggest lender, rankings by wealth management researcher Scorpio Partnership showed on Monday. Deutsche Bank faced a rocky 2016 in which the U.S. Department of Justice wanted the bank to pay $14 billion for mis-selling toxic...

  • Aug 4- Automatic Data Processing Inc said on Friday it had rejected a call from William Ackman's activist hedge fund Pershing Square Capital Management LP for more time in his bid to gain control of the U.S. human resources outsourcing company. Ackman requested that ADP extend its Aug. 10 deadline for nominating directors by 30 to 45 days, which the company...

  • NEW YORK, Aug 3- Even as U.S. stocks remain near highs and daily gyrations for stock prices are the most subdued in more than half a century, some options-based measures point to investors positioning for increased volatility. "There's been a lot more interest in hedging with VIX options for a volatility spike in the past couple of weeks," said Nitin Saksena, head of...

  • Fight for customers in asset management industry accelerating

    Allianz CFO Dieter Wemmer speaks about his company's Pimco arm and how the business as a whole is responding to regulation.

  • World record in inflows in Pimco

    Allianz CFO Dieter Wemmer speaks about second-quarter earnings including data for his company's asset management arm Pimco.

  • NEW YORK, Aug 3- Even as U.S. stocks remain near highs and daily gyrations for stock prices are the most subdued in more than half a century, some options-based measures point to investors positioning for increased volatility. "There's been a lot more interest in hedging with VIX options for a volatility spike in the past couple of weeks," said Nitin Saksena, head of...

  • *Credit Suisse WM upgrades Germany on strong earnings. LONDON, Aug 3- Credit Suisse Wealth Management upgraded German equities to' outperform' from' neutral' on Thursday, citing strong earnings growth and attractive relative valuations. "We have had a much stronger euro than we or the ECB expected, so by upgrading Germany we would expect a little bit of...

  • PARIS, Aug 3- AXA reported a stronger than expected rise in net profit for the first half of the year, helped by higher asset management and property and casualty earnings, and by lower restructuring costs. Europe's second largest insurer said on Thursday that it was confident of achieving its 2020 targets that involve 2.1 billion euros in cost savings over...

  • PARIS, Aug 3- AXA, Europe's second-biggest insurer, reported a 2 percent rise in net profit for the first half of the year, helped by higher asset management and property and casualty earnings, and by lower restructuring costs. Net income rose to 3.27 billion euros in the first half of 2017, while revenues rose 0.5 percent to 54.28 billion euros.

  • PARIS, Aug 3- AXA, Europe's second-biggest insurer, reported a 2 percent rise in net profit for the first half of the year, helped by higher asset management and property and casualty earnings, and by lower restructuring costs. Net income rose to 3.17 billion euros in the first half of 2017, while revenues rose 0.5 percent to 54.28 billion euros.

  • NEW YORK, Aug 3- Invesco Ltd is in discussions to acquire part of the investment management business of Guggenheim Partners LLC, including its exchange-traded funds business, according to a person familiar with the matter. In April it acquired Europe- based asset manager Source, bolstering its ETF product lineup. The company managed $858 billion in assets as of...

  • NEW YORK, Aug 2- Beechwood, a group of reinsurance and asset management companies, has been sold after it lost clients and suffered a bruised reputation when hedge fund firm Platinum Partners collapsed amid federal investigations and fraud charges, a person familiar with the matter told Reuters. Beechwood, which managed $2.4 billion in assets in 2015, has said...

  • EXCLUSIVE-BEECHWOOD REINSURANCE COMPANIES SOLD AFTER LOSING CUSTOMERS BECAUSE OF TIES TO COLLAPSED HEDGE FUND PLATINUM PARTNERS- SOURCE.

  • BOSTON, Aug 2- Federal prosecutors on Wednesday accused the manager of a Boston- based hedge fund of defrauding investors out of millions of dollars, nearly two months after state regulators charged him with engaging in a Ponzi-like scheme. Raymond Montoya, who operated RMA Strategic Opportunity Fund LLC, misused millions of dollars to pay for luxury vehicles...

  • NEW YORK, Aug 2- New York City's public pension system returned 12.95 percent on its investments in fiscal 2017, according to preliminary results from City Comptroller Scott Stringer on Wednesday, after two years of far more dismal results. The results also mirror the investment performance of the nation's two largest public pension plans, both in California.

  • LONDON, Aug 2- Britain's markets watchdog has asked an academic who accused the funds industry of being in "collective denial" over fees to come up with a common format for asset managers to publish their charges. The Financial Conduct Authority is scrutinizing the 6 trillion pound sector to see how it can offer better value for money. The watchdog said it has...

  • HONG KONG, Aug 2- Sequoia Capital China, an early investor in top Chinese technology firms such as Alibaba, aims to raise $1.5 billion or more in a new yuan-denominated fund and is currently pitching it to prospective investors, sources familiar with the plans said. The China arm of Silicon Valley venture capital giant Sequoia Capital is targeting raising at...

  • While Monday's sanctions don't cover Venezuela's oil sector, the White House has made clear that the door is open to further steps. Few investors believe Venezuela, rocked by daily protests and facing a humanitarian catastrophe with shortages of food and medicines, can dodge default for much longer. "We do have some exposure to Venezuela now... and we're in the...

  • NEW YORK, Aug 1- Jurors in the trial of former drug company executive Martin Shkreli on Tuesday asked a judge to clarify the definition of "fraudulent intent," a key element of the case, in their first significant note since they began deliberating Monday morning. The jurors, who are weighing charges of securities fraud and conspiracy against Shkreli in U.S....