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CEO projects share of sales will double as companies integrate technology into operations
...Castlelake would sit in Brookfield’s recently formed credit unit, which also houses a controlling interest in Oaktree Capital Management....
...Fraser told investors last month that the wealth management business “isn’t where it needs to be”....
...The likes of Janus Henderson and Jupiter provide reason for pause. But at least Amundi’s deal, with its announced (pre-tax) cost cutting of $100mn offers hope for a better outcome....
...But one by Janus Henderson is worth highlighting because it indirectly touches an interesting issue we’ve been thinking about....
...In recent months, numerous asset managers on both sides of the Atlantic, including BlackRock, Abrdn, and Janus Henderson, have unveiled job cuts as they come under pressure to balance maintaining profit...
...Deficits are “out of control and the real story is that there’s no mechanism for bringing them under control”, said Jim Cielinski, global head of fixed income at Janus Henderson....
...“Everybody has been talking about AI for the last two years, especially since ChatGPT was released,” Janus said. “The theme has just exploded.”...
...“Investment trusts used to be a uniquely British success story and a vibrant part of the market,” said James de Bunsen, a portfolio manager at Janus Henderson Investors’ multi-asset team....
...Whenever there’s a study that dunks on active portfolio management, we’ll be here to cut and paste. Today’s active management dunk comes from Morningstar....
...Activist investor Sparta Capital Management is calling on London-listed engineer Wood Group to consider a US listing to address the “continued underperformance of its shares”....
...Dell’s family office, DFO Management, has agreed to provide the first outside capital to 5C Investment Partners....
...Roaring equity markets and the popularity of a new spot bitcoin exchange traded fund powered BlackRock to record assets under management of $10.5tn and net income that rose by more than one-third....
...Anyway, here’s the lowdown on asset management for this week. You’ll be back in Harriet’s capable (and tanned) hands next time....
...“I find it ridiculous,” said Pawel Janus, head of analytics at ETFbook. “Retail investors can buy crypto on exchange. You have zillions of different platforms and they are all approved....
...At the end of March, assets under management in European ETFs stood at €1.81tn, up 10 per cent on the previous quarter....
Passive beneficiaries, aggressive margins
...US hedge fund Elliott Management has instead been on a buying spree, betting that the market has grown too pessimistic over potential losses....
...He or she has to be kept happy because of the money they bring in, but nobody in their right mind would put someone like this in a management role....
...It’s amazing to think quite how recently private capital management was a pretty-much-nothing industry. Back in 2003, the entire sector’s AUM was less than $500bn....
...Investors pumped $65.6bn into active ETFs in the three months to the end of March — more than 50 per cent higher than the previous record of $41bn in the fourth quarter of 2023 — as assets under management...
...It’s just hard to see how Janus Henderson is going to be able to maintain any positive momentum given *gestures helplessly at every single asset management trend*....
...Liontrust’s fortunes illustrate how M&A is not a panacea for the challenges facing the fund management industry....
...Hiroshi Lockheimer, head of Android, will be moved to work on other products and is replaced by Sameer Samat, vice-president of product management for Android and Google Play....
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