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Capital Markets Asset Management and Custody Banks

  • ZURICH, April 28- Swiss bank UBS kicked off 2017 with a 79 percent jump in net profit as a brighter outlook boosted its investment bank and client trading in its core wealth management business. Switzerland's biggest bank and the world's largest wealth manager said on Friday net profit for the first three months of 2017 was 1.3 billion Swiss francs.

  • ZURICH, April 28- Swiss bank UBS kicked off 2017 with its second-best start to a year since the financial crisis as a brighter outlook and a spike in trading levels boosted its investment bank and core wealth management business. Switzerland's biggest bank and the world's largest wealth manager said on Friday net profit for the first three months of 2017 rose 79...

  • ZURICH, April 28- Swiss bank UBS kicked off 2017 with a 79 percent jump in net profit as a brighter outlook boosted its investment bank and client trading in its core wealth management business. Switzerland's biggest bank and the world's largest wealth manager said on Friday net profit for the first three months of 2017 was 1.3 billion Swiss francs.

  • The company said that it had liquid assets of C $1.3 billion as of April 25, compared with C $1.5 billion the day before, as investors pulled out of both high-interest savings accounts and the less-liquid guaranteed investment certificates. It said it had secured a high-interest C $2 billion credit line from "a major Canadian institutional investor" and had...

  • April 27- Financial advisory and asset management firm Lazard Ltd reported a 61 percent jump in quarterly profit, helped by growth in its financial advisory and asset management businesses. Net income attributable to the company rose to $107.6 million, or 81 cents per share, in the first quarter ended March 31, from $66.8 million, or 50 cents per share, a year...

  • LONDON, April 27- Storebrand, Norway's largest private pension fund, on Thursday launched two new fossil-free funds and called on the government to cut the nation's exposure to coal and other fossil fuels. Norway's $900- billion sovereign wealth fund, the world's largest and built on oil and gas revenues, has sought to lead the shift from investment in coal, the...

  • *China robo advice assets forecast at $27.1 bln end-2017. Robo advice services barely existed in China before 2015, but they are expected to manage $27.1 billion of assets at the end of 2017, though that remains small relative to the $182 billion figure for the United States, where services launched several years earlier, according to market research firm...

  • NEW YORK, April 26- Record high U.S. stock prices are providing the California State Teachers' Retirement System with profit-taking opportunities as it cuts exposure to U.S. equities and moves money off shore, the plan's chief investment officer told Reuters on Wednesday. "We have enjoyed obviously the benefits of this equity rally in the USA, but we still don't...

  • BOSTON/ NEW YORK, April 26- U.S. hedge fund managers began warming to President Donald Trump soon after his surprise election ignited a powerful stock market rally. "For hedge funds, this is an unmitigated benefit as their tax liabilities could drop significantly," said Robert Willens, an independent tax consultant. A manager whose hedge fund earns $50 million a...

  • CPPIB began buying farmland in North America in 2012 and has since purchased about 120,000 acres in the United States and a similar amount in Canada. The country's biggest public pension fund purchased 115,000 acres of Saskatchewan farmland from Assiniboia Farmland LP in 2013 for C $128 million and had intended to invest another C $500 million in Canadian...

  • WASHINGTON, April 26 (Reuters)- Public pension funds in at least seven U.S. states have invested millions of dollars in an investment fund that owns a New York hotel and pays one of President Donald Trump's companies to run it, according to a Reuters review of public records. The Trump SoHo Hotel and Condominium in Manhattan is an upscale 46- story property owned by a...

  • TORONTO, April 26- Shares in Home Capital Group, Canada's biggest non-bank mortgage lender, plunged more than 60 percent on Wednesday, wiping out nearly $500 million in market value, after the company agreed to tap a high-interest credit line to shore up finances. Home Capital said it would tap a C $2 billion credit line with an unnamed institutional investor...

  • WASHINGTON, April 26- Public pension funds in at least seven U.S. states have invested millions of dollars in an investment fund that owns a New York hotel and pays one of President Donald Trump's companies to run it, according to a Reuters review of public records. The White House referred comment to the Trump Organization, the parent conglomerate for Trump's...

  • NEW YORK, April 25- Hedge fund critics are becoming increasingly vocal about the $3 trillion industry, arguing that it produces mediocre returns for clients while enriching managers with exorbitant fees. But despite some image problems the industry is actually healthy, according to Simon Lorne, vice chairman and chief legal officer of Millennium Management...

  • The euro last traded at $1.0866, off Monday's peak of around $1.0940, its highest level since Nov. 10, after centrist Emmanuel Macron won the first round of the French presidential elections. The euro's sharp bounce on Monday was partly due to the triggering of stop-loss buying at $1.09, said Tan Teck Leng, forex analyst for UBS Wealth Management in Singapore.

  • LONDON, April 24- Hedge funds have tempered their bullishness towards crude oil as the short-covering rally that gripped the market since the end of March ran its course. Hedge funds and other money managers increased their net long position in the three major futures and options contracts linked to Brent and WTI by 8 million barrels in the week to April 18.

  • Arconic announced on Monday that after last week's resignation of its chief executive and chairman, Klaus Kleinfeld, it was postponing its annual meeting from May 16 to an unspecified day at the end of the month. Kleinfeld resigned after sending a letter to Elliott founder Paul Singer this month that Arconic's board did not approve and that the hedge fund...

  • CALGARY, Alberta, April 24- U.S. pipeline company Kinder Morgan Inc said on Monday its Canadian unit filed a prospectus for an initial public offering of restricted voting shares, to help finance its C $7.4 billion Trans Mountain expansion project. Reuters reported in February that the company had begun talks with institutional investors to raise capital for...

  • Arconic announced on Monday that after last week's resignation of its CEO and Chairman, Klaus Kleinfeld, it was postponing its annual meeting from May 16 to an unspecified day at the end of the month. Kleinfeld resigned after sending a letter to Elliott founder Paul Singer this month that Arconic's board did not approve and that the hedge fund deemed...

  • LONDON, April 24- Hedge funds have tempered their bullishness towards crude oil as the short-covering rally that gripped the market since the end of March ran its course. Hedge funds and other money managers increased their net long position in the three major futures and options contracts linked to Brent and WTI by 8 million barrels in the week to April 18.