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CEO projects share of sales will double as companies integrate technology into operations
...Some of the biggest private equity and asset management groups — including TPG, BlackRock, T Rowe Price and CVC Capital Partners — have recently acquired credit managers as they look to diversify their assets...
...JPMorgan Asset Management and State Street Global Advisors both confirmed they were leaving Climate Action 100+....
...But one industry lobby group estimated that the increase would be as much as 24 per cent, pushing up the cost of borrowing....
...One big winner was the Newhouse family, who through Advance Magazine Publishers Inc own Condé Nast, which bought Reddit in 2006 for $10mn before spinning it out in 2011....
...That’s when he got a call from James Robinson III, who was then the chief executive of American Express and the biggest power broker on Wall Street....
...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”....
...Wall Street retail lenders, which have more diversified sources of revenues like investment banking and wealth management, can afford the fight for deposit....
...The group is split into an active asset management arm, a life insurance and pensions business and a financial advice business. M&G’s share price rose by about 2 per cent in morning trading....
...But he resigned from GLG as his returns were starting to go down, and joined Louis Bacon’s hedge fund Moore Capital Management in 2008....
...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....
...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....
...US hedge fund Elliott Management has instead been on a buying spree, betting that the market has grown too pessimistic over potential losses....
...Anyway, here’s the lowdown on asset management for this week. You’ll be back in Harriet’s capable (and tanned) hands next time....
...Ark Investment Management generated stellar results in 2020, which helped it amass investor assets....
...Investment grade corporate bond ETFs also enjoyed a stellar month with $10bn of net buying marking the highest inflows since January and more than making up for the $7.9bn of outflows that hit the category...
...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...
...The IPO slump has taken a toll on China-focused private equity managers once known for their stellar performance....
...Nine workers who occupied a senior executives’ office were arrested and on Wednesday it fired 28 staff allegedly involved in the “No Tech for Apartheid” group....
...Liontrust’s fortunes illustrate how M&A is not a panacea for the challenges facing the fund management industry....
...Elsewhere in private equity, the Blackstone Group has raised $1.3bn for a fund tailored to wealthy individual clients, signalling a revival of momentum in its efforts to reach investors beyond its base of...
...Such software is part of the new and growing sector of “collaborative work management”, where providers include Asana and Monday.com....
...Mutual funds have enabled millions to invest in the stock market since they were introduced 100 years ago, but newer, nimbler products are reshaping asset management....
...As Fink built BlackRock into a force in traditional asset management, Ogunlesi rose to head investment banking at Credit Suisse before founding GIP in 2006 with a group of other alumni of the now-defunct...
...The group has been slowly chipping away at BlackRock’s lead in US exchange traded funds, currently one of the hottest parts of the asset management industry....
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