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...Most of the nearly $500bn increase in assets under management in the first quarter was due to rising equity markets. In the US, the S&P 500 had its best first quarter since 2019....
...Roaring equity markets and the popularity of its new spot bitcoin exchange traded fund powered BlackRock to record assets under management of $10.5tn and net income of $1.57bn that was up 36 per cent year...
...Is the asset management industry ready for T+1?...
...Here is a Verdad chart showing its favoured measure of quality — the median ratio of gross profits to assets — broken down by sector but excluding healthcare....
...Here’s the lowdown on the latest in asset management while she’s away, including a really delicious bumper helping of “further reading”. One thing to start: Big numbers at BlackRock....
...Again there is a wide variation in how the asset management industry has answered this for balanced funds. Each method has its benefits and flaws....
...The FSB pinpointed “weaknesses in liquidity risk management and governance” as a reason so many struggled to respond to outsized margin and collateral calls, because they did not have easy access to emergency...
...*Ignites Asia is a news service published by FT Specialist for professionals working in the asset management industry. Trials and subscriptions are available at ignitesasia.com...
...Among large ETFs in Europe with similar exposure, the Invesco S&P 500 Ucits ETF, which has $18.5bn in assets under management, has a TER of 0.05 per cent....
...The first is a standalone public company — albeit with a lot of other businesses bolted on — while the latter two are part of broader listed companies, S&P Global and LSEG respectively....
...Goldman Sachs’ Petershill Partners, which owns minority stakes in alternative asset companies, has bought a stake of more than 20 per cent in private credit specialist Kennedy Lewis Investment Management...
...Passive management has gained ground because it is cheap, with annual management fees often a fraction of a percentage point....
...The audacious move has ignited a rare public feud in the asset management industry: on Monday Barings filed a lawsuit against two of its defecting executives and Corinthia....
...Rokos Capital Management, which manages about $16bn of assets, is up 8.8 per cent in 2024 to February 16. It told investors that the gains were largely driven by the recent sell-off in bond markets....
...A high-profile shareholder in Abrdn dumped the stock after losing faith in management’s ability to turn the flagging UK asset manager around, adding to pressure on chief executive Stephen Bird....
...In the UK, The Investment Association estimates that passive accounts for a third of all assets under management, and index fund assets eclipsed those in actively managed funds in the US market at the end...
...For wealthy investors, despite the receding threat of inflation, there is still a need to diversify, stresses John Roe, head of multi-asset funds at Legal & General Investment Management....
...It has a long way to go. Catching US rivals such as BlackRock and Vanguard would require hugely bulking up its roughly $2tn of assets under management, a fraction of those peers....
...He quit as chief executive of Apollo Global Management soon after they became public....
...The cuts were needed after a period of rapid growth over the past few years, the first person said, as the firm grew from a low of $6bn in assets in 2019....
...Without periodic disposals to provide a reality check, the firms need to find a way to inspire confidence in how net asset value is calculated....
...JPMorgan Asset Management’s Jack Manley made this case to us yesterday. He argues that the recent bout of stubborn shelter inflation is being caused by the lock-in effect....
...I bought an S&P 500 fund a few weeks later, selling again in September for a tidy 12 per cent profit. I felt smug after share prices dropped almost a tenth over the subsequent two months....
...DRSK invests 90-95 per cent of its assets in investment-grade corporate bonds, with the balance used to buy call options on large-cap stocks and sectors in the S&P 500....
...Flows into S&P 500 ETFs were boosted by a technical factor last year when the $533bn SPDR S&P 500 ETF Trust (SPY) pulled in $31bn in two days in December....
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