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Capital Markets Asset Management and Custody Banks

  • The logo for the Government Of Singapore Investment Corporation (GIC) is pictured in the company headquarters in Singapore

    Singapore sovereign fund GIC, which invested in UBS during the global financial crisis, said it cut its stake in the Swiss bank at a loss.

  • ZURICH, May 15- Singapore sovereign wealth fund GIC Private Limited, which invested in UBS to support it during the 2008/ 09 global financial crisis, said it has cut its stake in the Swiss bank at a loss, partly because of changes in the lender's strategy and business. GIC, which manages more than $100 billion globally, said it has reduced its stake to 2.7 percent from...

  • LONDON, May 15- Hedge funds had become increasingly bearish towards crude oil by the middle of last week, leaving them vulnerable to a short squeeze with OPEC's next meeting coming up on May 25. In fact, hedge fund positioning in crude is nearly identical to before the last OPEC meeting held on Nov. 29, which was followed by a fierce short-covering rally.

  • SAN FRANCISCO/ NEW YORK, May 15- Snap Inc jumped more than 8 percent on Monday in its second strongest day since the social media company's initial public offering, boosted by filings showing several institutional investors had owned its shares. Coatue Management LLC, Soros Fund Management LLC, Goldman Sachs Group Inc and Jana Partners LLC on Monday joined the...

  • ZURICH, May 15- Singapore sovereign wealth fund GIC Private Limited, which invested in UBS to support it during the 2008/ 09 global financial crisis, said it has cut its stake in the bank at a loss, partly because of changes in the lender's strategy and business. GIC, owned by the government of Singapore, was one of the first sovereign funds to pump billions into Western...

  • NEW YORK, May 15- Several big-name hedge fund investors trimmed their stakes in financial companies in the first quarter as hopes for immediate tax cuts and loosening of regulations after President Donald Trumps victory in November began to fade. Boston- based Adage Capital Management cut its position in Wells Fargo& Co, which has come under fire for its sales...

  • LONDON, May 15- Hedge funds had become increasingly bearish towards crude oil by the middle of last week, leaving them vulnerable to a short squeeze with OPEC's next meeting coming up on May 25. In fact, hedge fund positioning in crude is nearly identical to before the last OPEC meeting held on Nov. 29, which was followed by a fierce short-covering rally.

  • May 15- Canada Pension Plan Investment Board, the country's biggest public pension fund, said on Monday it would invest $500 million in a joint venture with Indian property developer IndoSpace. The joint venture, IndoSpace Core, will buy and develop logistics facilities in India, the companies said. The joint venture will buy 13 industrial and logistics parks...

  • NEW YORK/ BOSTON, May 12- Some of the biggest U.S. mutual and hedge funds, including Daniel Loeb's Third Point and Daniel Och's Och-Ziff Capital Management, owned stakes in Snap Inc, parent of the wildly popular Snapchat messaging app, at the end of March, regulatory filings on Friday showed. The quarterly disclosures of asset manager stock holdings, in what are known...

  • NEW YORK/ BOSTON, May 12- Some of the biggest U.S. mutual and hedge funds, including Daniel Loeb's Third Point and Daniel Och's Och-Ziff Capital Management, owned stakes in Snap Inc, parent of the wildly popular Snapchat messaging app, at the end of March, regulatory filings on Friday showed. The quarterly disclosures of asset manager stock holdings, in what are known...

  • BOSTON, May 12- BlackRock Inc said on Friday that it voted in favor of a successful shareholder proposal calling for more climate change reporting by Occidental Petroleum Corp, in the first sign the world's largest asset manager was backing up its tough new talk on environmental matters. "Todays historic vote puts the oil and gas industry on notice the climate is...

  • BOSTON, May 12- Hedge fund Passport Capital, which once grabbed headlines with triple digit returns, has been hit with fresh losses and its assets continue to shrink, the firm's founder told investors in a letter seen by Reuters on Friday. Assets at the San Francisco- based firm contracted to $2 billion at the end of April, half of what it had managed only a few years...

  • BOSTON, May 12- Asset manager BlackRock Inc on Friday said it voted in favor of a shareholder proposal calling on Occidental Petroleum to report on the impact climate change could have on the energy company's business, helping it to pass. An Occidental spokesman said via e-mail the shareholder resolution passed at the company's annual meeting, held in Houston,...

  • *Pimco achieves net inflows of 21 bln euros. FRANKFURT, May 12- German insurance group Allianz on Friday reported rising investment inflows at bond fund manager Pimco and stuck to its operating profit target for 2017.. Pimco had experienced several years of cash withdrawals in some of its main funds, including its flagship Pimco Total Return Fund.

  • May 11- Dow Chemical Co, which is merging with DuPont, said Chief Executive Andrew Liveris would retire as chairman of the combined DowDuPont company in July 2018. Liveris said in February 2016 he would retire by mid-2017, following a prolonged battle with hedge fund manager Daniel Loeb, who had been questioning his leadership. The investment plans include the...

  • May 11- Dow Chemical Co, which is merging with DuPont, said Chief Executive Andrew Liveris would retire as chairman of the combined DowDuPont company in July 2018. Liveris said in February 2016 he would retire by mid-2017, following a prolonged battle with hedge fund manager Daniel Loeb, who had been questioning his leadership. Dow also said on Thursday it would...

  • MILAN, May 11- Generali is looking to buy portfolio management teams to expand its asset management operations and beef up its fee-based business, the Italian group said after reporting a 9 percent fall in first-quarter profits on Thursday. Italy's biggest insurer said it aimed to boost group net profit by 150 million euros by the end of 2020 and expand assets...

  • PARIS, May 11- French bank Credit Agricole reported a near fourfold increase in first-quarter profit, as it moved on from a complex revamp of shareholding ties with its parent group and benefited from a surge in trading activity. Credit Agricole, whose asset management arm Amundi is buying rival Pioneer Investments from Unicredit for 3.6 billion euros, said net...

  • WASHINGTON, May 10- Barclays PLC will pay more than $97 million to settle civil charges that it overbilled its asset management business clients for tens of millions of dollars, U.S. regulators said on Wednesday. All told, the SEC said that Barclays overbilled customers by about $50 million. Another 63 brokerage clients paid excess mutual fund sales charges...

  • PARIS, May 10- AXA Chief Executive Thomas Buberl plans to overhaul the group's U.S. operations, proposing to float its American life insurance and asset management businesses in 2018 in order to free up capital and pursue takeover targets elsewhere. In the past investors have questioned whether AXA needs to retain two separate asset managers- AXA IM which is...