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Posts Tagged ‘ asset managers ’

Jonathon Jacobson Ira Sohn Conference [LIVE]

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May 8, 2013
TEST6Jonathon Jacobson Ira Sohn

Jonathon Jacobson Ira Sohn coverage brought to you by ValueWalk. Jonathon Jacobson is the Founder, Chief Investment Officer and Chief Executive Officer of Highfields Capital Management LP, an $11 billion Boston-based investment management firm established in July 1998. Prior to founding Highfields, Jonathon Jacobson spent eight years as a senior equity portfolio manager at Harvard Management Company, Inc., which is responsible for investing Harvard University’s endowment. Jonathon Jacobson currently serves as a Director of Clear Channel...
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Oaktree Capital PT Raised by Credit Suisse Post-Q1 Earnings

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May 7, 2013
TEST6Oaktree logo

Post this morning’s conference call, Credit Suisse follows up on Oaktree Capital Group LLC (NYSE:OAK) earnings. CS believes that first quarter reflected another exceptionally strong set of results for Oaktree Capital. Investment performance remains healthy, while management remains extremely disciplined on the harvesting and deployment front. While CS says that they ‘have respected the quality of the Oaktree franchise for some time, we have dramatically underestimated the strong investment performance, the aggressive pace and...
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WisdomTree Aims for $100B in AUM: Goldman Sees it in 2014

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April 29, 2013
TEST6WisdomTree Investments Logo

WisdomTree Investments, Inc. (NASDAQ:WETF) reported 1Q13 EPS in line with Street’s estimate. Both gross margin (71.6%) and operating margin (27%) came in above estimates. 1Q13 flows were +$5.9bn (11% of ETF industry flow share), driven by +$3.9 bn inflows into DXJ, while 2Q is also off to a strong start with +$1.6bn inflows QTD (+$1.2 bn inflows into DXJ). WisdomTree Investments, Inc. (NASDAQ:WETF)noted that investments in the brand continue, and expects a comp rate of...
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Buoyancy in UK’s Asset Management Industry

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April 24, 2013
TEST6Asset management

UK’s funds management industry declared enhanced performance with large funds flow by investors. Jupiter Fund Management PLC (LON:JUP) reported 11 percent growth in its Assets Under Management during first quarter. During the first three months of last quarter, its funds rose to £29.1 billion ($44.4 billion), thanks to £2.7 billion investment gains and £209 million inflows, largely into mutual funds. Jupiter Fund Management PLC (LON:JUP)’s biggest market is the UK. Recently, a UK regulatory...
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BlackRock Beats Estimates, AUM Grows 4 Percent

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April 16, 2013
TEST6BlackRock Inc

BlackRock, Inc. (NYSE:BLK) reported adjusted operating EPS of $3.65, above consensus of $3.57 primarily due to higher than expected non-operating income. Top line revenues decreased 4% sequentially, a bit weaker than expected on lighter growth in average AUM (though healthy $39B in long term flows or ~4% ann. org. growth), two fewer days and seasonally lower performance fees. However, expenses were well managed, and came in below expectations, though still led to 260bps of negative...
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Barclays Raises Estimates For Morgan Stanley And Goldman Sachs

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March 28, 2013
TEST6Investment Banking Revenues

A couple of weeks ago Morgan Stanley (NYSE:MS) got the green light from Fed to buy the remaining stake of its wealth management joint venture with Citigroup Inc. (NYSE:C). The 35 percent stake that will be acquired by Morgan Stanley (NYSE:MS) is estimated to be worth $4.7 billion. The move was an attempt to strengthen Morgan Stanley’s wealth management business in the U.S. The event was seen as a significant tailwind for the investment bank’s...
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Apollo, Blackstone And Carlyle Have Highest Upside: Credit Suisse

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March 27, 2013
TEST6US Asset managers AUM

Among the major publicly traded asset managers in US, Credit Suisse Group AG (NYSE:CS)’s analysts see the highest upside in Apollo Group Inc (NASDAQ:APOL), The Blackstone Group L.P. (NYSE:BX)  and Carlyle Group LP (NASDAQ:CG) for the running year. Credit Suisse Group AG (NYSE:CS) has launched Alternative Asset Manager Scorecard which grades the managers based on their AUM growth and composition, returns, sector valuation, new commitments, Level I and Level II asset trends, cash distributions, cash earnings composition etc ....
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Oaktree Capital Yield to Hit 9 Percent In 2013: Morgan Stanley

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March 21, 2013
TEST6Oaktree Logo

Oaktree Capital Group LLC (NYSE:OAK), famous for its bets on distressed debt, is having a good time so far in 2013. The firm’s stock is up, and expectations are high. A Morgan Stanley (NYSE:MS) report on Oaktree Capital Group LLC (NYSE:OAK) reports some strong trends in the asset manager’s business. Three factors taken from a meeting with the firm’s management were particularly important. The first of these is, obviously, the high distribution. Morgan Stanley (NYSE:MS) estimates...
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Larry Fink: Cyprus Minor Issue, Equities Will Rise 20% in 2013 [VIDEO]

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March 19, 2013
TEST6Larry Fink

Larry Fink, CEO of BlackRock, the world’s largest asset manager with close to $4 trillion in AUM, talks about the outlook for the global economy and financial markets. He also discusses BlackRock’s hiring plans. Larry Fink’s BlackRock recently laid off  3% of the workforce.  Fink last year called for investors to go 100% equities. It was a good call as the S&P 500 is up over 15% since that date. Fink is not scared...
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Alternatives Beat S&P 500 by 30% Over Past 12 Months: Goldman

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March 13, 2013
TEST6Private equity firms and public offerings

Goldman Sachs is out with a new report on asset managers. There are two really interesting pieces of data in this report. First we focus on one point related to stock performance. Unlike traditional asset managers, where valuations move alongside AuM growth, alternatives’ stocks have been more correlated with harvesting activity. As a result, Goldman’s data shows that alternatives are up 44% over the LTM, outperforming the S&P 500 (INDEXSP:.INX) by 30%. They believe the...
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Fidelity May Halt Redemptions During Money Market Run

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March 13, 2013
TEST6Fidelity Investments logo

Fidelity Investments, one of the leading asset managers worldwide, confirmed its support for the implementation of a one percent redemption fee on large institutional money funds when the market is under extreme crisis, according to a report from Tim McLaughlin of Reuters. Reuters cited a speech by Nancy Prior, Fidelity’s president of money market funds. Prior had some other shocking words (emphasis ours), ”We believe that halting redemptions or charging a fee when liquidity is scarce...
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