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...“As Chair Gensler has said, institutional prime and institutional tax-exempt funds, just 10 per cent of the money market space, have faced the largest redemptions in past stress periods,” said an SEC spokesperson...
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...Isa savers are exempt from paying tax on savings interest, dividends or capital gains on funds held in Isa accounts. Withdrawals are also not subject to income tax....
...funds turn away from active management....
...Franklin shares, which are down more than 11 per cent this year, dropped 2.8 per cent on the news....
...Profits are exempt from capital gains tax when VCT shares are sold, but relief for capital losses against income is not available....
...Private equity has been attracted to accounting firms by the combination of steady income from tax and audit work and the opportunity to expand into new services such as consulting....
...London managed just over $1bn, having lost the former UK-listed chip designer to New York....
...Enter stage right New York-based hedge fund FourWorld, whose chief investment officer John Addis told the FT that the deal was “one of the most egregious cases we have ever seen” of a majority shareholder...
...Asset managers have also been grappling with continued outflows from legacy mutual funds while exchange traded funds — which trade like stocks and enjoy preferential tax treatment — have enjoyed rising inflows...
...Any pension fund passed on at death falls outside the total assessed for inheritance tax....
...Irish building materials giant CRH, the most valuable stock on the small Dublin market, left in September as part of the switch of its primary listing to New York from Europe....
...Exchange traded funds, already thrashing mutual funds in the battle for new investor dollars, are beginning to challenge another bastion of the asset management industry, a survey of US asset managers suggests...
...Most Gen Xers have 401k plan balances that are woefully inadequate to fund a long retirement....
...Ranchers from New York state to California have been some of the projects’ first beneficiaries....
...We’re already seeing attempts to remove tax-exempt status and federal funds from colleges that don’t have a particular point of view....
...Last year she teamed up with a partner in New York, Aurelie Cauchy, and together they launched a company, The Twentieth, enabling Ramos to take her philanthropy consultancy to both sides of the Atlantic...
...He noted that providers are likely to fight for investors with low fees because “this is such a huge opportunity”....
...“Obviously they’re different industries, but if you’re going to recruit people to a new platform, it’s helpful to have a team excited by a bold new opportunity,” he said. “It’s a similar road map.”...
...“We will push hard to encourage sophisticated asset management and to solicit new entrants,” Kishida said in a speech at the Economic Club of New York, in late September....
...Other non-government money market funds, such as tax-exempt funds that buy state and local government debt, would be required to apply a similar fee if the fund’s board decided it was in its best interests...
...Ludwig Bemelmans’ uproariously funny memoir, Hotel Splendide, in which he uncovers the fabulous world of New York’s Ritz-Carlton Hotel, is an entertaining read....
...Now this rare masterpiece, “The Deposition from the Cross”, has been sold to the Metropolitan Museum of Art in New York in a transaction brokered by Sotheby’s....
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