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...Additional reporting by Joshua Franklin and Jennifer Hughes in New York...
...Among large-caps, a flood of new money is pushing up the share prices of companies with very low free-floats....
...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....
...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 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....
...The five-year growth rate of the Russell 2000’s earnings per share has been 14.4 per cent, compared with the large-cap Russell 1000’s 15.23 per cent....
...An index of small cap companies in mainland China dropped 4.8 per cent on Tuesday despite the country’s stronger than expected first-quarter gross domestic product figures....
...Typically, large Wall Street investment banks will pool revenues and then leave it to the boss’s discretion on how to reward employees....
...Liberty’s backers include SoftBank and Saudi Arabia’s sovereign wealth fund....
...“Transformations in the late 1980s and early 1990s was in large measure due to his energy and vision.”...
...Also on Peltz’s team is Isaac Perlmutter, the former chair of Marvel Entertainment, who became a large Disney shareholder after selling Marvel to the company....
...Other investors included Hudson Bay Capital Management, which put in $250mn, and Citadel, the hedge fund led by billionaire Ken Griffin....
...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....
...Dimon often tops the list of the highest-paid chief executives across the large US banks. Forbes puts his net worth at about $1.9bn, much of which is in JPMorgan stock....
...The benchmark large-cap CSI 300 lost 11.4 per cent last year....
...Wells Fargo has had an asset cap since 2018 as punishment for opening millions of false accounts, which has curtailed profitability....
...Goldman’s alternative funds are on track to raise $225bn from outside investors by the end of 2023, a year earlier than planned....
...Greece’s bank bailout fund last month sold 27 per cent of Piraeus Bank for €1.35bn....
...Retirement-focused investors have poured more than $20bn into US exchange traded funds that cap gains but limit losses over the past two years, posing a competitive challenge to established offerings from...
...The sector has historically traded at similar multiples to the S&P 500, but thanks to the surge in large-caps in recent months is now trading at a near-record discount....
...“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...
...He pointed to the latest updates to long-running research by S&P Dow Jones Indices which shows that over 15 years more than 90 per cent of actively managed large-cap funds underperformed the S&P 500, and...
...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....
...Performance poetry was given a new life and he won a large, international following. The Black Writers’ Guild, of which he was a founding member, praised Zephaniah as a “titan of British literature”....
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