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...’s China or US funds....
...“It has to be driven by growth, growth, lots of growth and that’s always a little bit scary when your base case is the blue sky case.”...
...An increase in the £40,000 cap on tax-free annual pension contributions to £60,000, after it had been frozen for nine years, and the abolition of the lifetime allowance....
...The results highlighted the ability of Morgan Stanley’s wealth management business, which has been a driver of the bank’s growth in recent years, to add new client assets on a large scale....
...The share moves underscore challenges facing new Morgan Stanley chief executive Ted Pick as he seeks to chart new growth....
...With about 40 per cent of its assets in fixed-income funds, Franklin could benefit from the peak-rates wave of money coming back into bonds....
...Given their greater sensitivity to economic growth, Goldman reckons US small caps will return about 15 per cent over the next 12 months....
...First under Schlosstein and then Weinberg, the firm has aggressively pushed into once-esoteric areas of alternative assets investing: helping private equity firms raise money and trade secondary fund slices...
...Wells Fargo has had an asset cap since 2018 as punishment for opening millions of false accounts, which has curtailed profitability....
...Greece’s bank bailout fund last month sold 27 per cent of Piraeus Bank for €1.35bn....
...“This follows a period in which many of our core investment strategies . . . have been out of favour, impacting both performance and flows,” he added, pointing to its growth, small and mid-cap, and broader...
...Activity has slowed in 2023 but some parts of Goldman’s trading division, such as financing equity trades for hedge fund clients, has seen double-digit percentage revenue growth this year....
...In contrast, US small-caps currently trade at a 13.7 per cent discount, while European large-caps are at a discount of 7.3 per cent and US large-caps a premium of 4.2 per cent, Cooper said....
...But this strategy was wrongfooted in February, when the China deployed state-run funds and financial institutions — the so-called “national team” — to buy exchange traded funds that tracked large cap stocks...
...Goldman’s alternative funds are on track to raise $225bn from outside investors by the end of 2023, a year earlier than planned....
...On this day, Bitcoin exchange traded funds (ETFs) were approved for listing on US stock exchanges....
...Two years ago Franklin Templeton launched a tokenised fund but had attracted only $360mn in assets by the end of March....
...“Loan growth has slowed dramatically,” Morgan Stanley banking analyst Betsy Graseck wrote in a note to clients last week. “Our view is weak loan growth reduces NII growth into 2024.”...
...Cap Equity UCITs ETF (BBSD) for small caps....
...hedge funds faring less well....
...Georgina Brittain, manager of the JPMorgan UK Small Cap Growth & Income trust, notes that in the past, mid-caps have traded at a premium to the FTSE 100 as they are considered more nimble and faster growing...
...The funds, which include those from BlackRock, Franklin Templeton and Invesco, have attracted net inflows of nearly $4bn, according to ETF.com....
...risk — in index-tracking vehicles such as exchange traded funds....
...[Zoom] That’s all in spite of hedge funds being net sellers of mega-caps over the fourth quarter....
...The month-to-date performance isn’t quite that bad, but for manilla and growth funds it’s still well below the 2022 level....
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