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Legg Mason completes acquisition of Martin Currie
Legg Mason, (NYSE:LM) announced today that it has completed the acquisition of Martin Currie, an international equity specialist headquartered in Edinburgh, Scotland. Martin Currie had assets under management (AUM) of $10.1 billion as of August 31, 2014.
PIMCO Elects Daniel Ivascyn as Group Chief Investment Office
PIMCO has elected Daniel Ivascyn to serve as Group Chief Investment Officer (“Group CIO”), succeeding William H. Gross who has left the firm. In addition, the firm appointed Andrew Balls, CIO Global; Mark Kiesel, CIO Global Credit; Virginie Maisonneuve, CIO Equities;...
PIMCO CIO William H. Gross to leave the firm
PIMCO, a leading global investment management firm, announced that Co-founder and Chief Investment Officer (“CIO”) William H. Gross, has resigned and will leave the firm, effective immediately. The firm has a succession plan in place and its Management Board, comprised...
Liontrust expands International distribution
Liontrust Asset Management Plc (Liontrust), the specialist fund management group, has recruited James Beddall to work alongside Jonathan Hughes-Morgan as co-head of International Sales. Liontrust is in the process of setting up a Branch Office in Luxembourg, where...
Large uncertainty about Scottish referendum outcome (NIBC)
The Chart of the Week shows government bond yields of Germany, the Netherlands, Belgium and Spain. The ECB announced its first official QE programme early this month. The chart shows that rather than falling, interest rates actually rose since then. This contradicts...
Euronext launches southern European banks index nr
Euronext today announced the launch of the Euronext® Southern European Banks Index NR (SEBI), an index reflecting the banking sector of Southern Europe. The index will serve as the underlying for new index futures which will be available for trading on Euronext...
YES Vote: What would happen to Scotland's currency, its economy and its people?
Toby Nangle, Head of Multi-Asset Allocation at Threadneedle Investments, comments on the implications of a ‘Yes’ vote for Scottish independence on the country’s currency, its economy and its people. The market's scepticism that Scotland will vote forindependence...
Draghi once again manages to generate a positive surprise
Draghi’s speech at Jackson Hole raised expectations of further ECB easing and so, it is very important that the ECB deliver on these expectations to prevent another shock to the already fragile Eurozone economy. In this respect, Draghi once again managed...
ECB finally comes up with bolder action
The ECB overshot already existing high market expectations by taking even bolder action at its latest monetary policy meeting on Thursday. Not only has it announced an asset purchasing programme of asset-backed securities (ABS) and covered bonds to be started in...
Thoughts and statements from Julius Baer’s Economists and Research Analysts
General outlook for equities In the past days and weeks, we communicated a number of rating changes that point to an overall lower risk exposure within the equity asset class, such as the downgrade of European equities to neutral or becoming neutral within the...
Investor Confidence Rises in August by 7.2 Points to 122.8
State Street Global Exchange today released the results of the State Street Investor Confidence Index (ICI) for August 2014. The Global ICI rose to 122.8 in August, up 7.2 points from July’s revised reading of 115.6. The improvement in sentiment was drivenby...
Open Letter IMF, ECB and EU
Open letter from Wim Grommen regarding concerns about European stock indices. Dear Ms Lagarde, dear Mr Draghi and dear Mr Van Rompuy, Now that the welfare of many citizens in Greece, Portugal, Spain, Italy and France threatens to sink beneath the critical...
Private equity exits in Central and Eastern Europe achieve third highest activity on record
2013 was a year of strong exit activity in the CEE region, the 3rd highest on record, which unlike the previous two record years, was not dominated by one or two large disposals. In addition, 88 companies were exited, the highest number in the past seven years....
Share and Share Alike
Much commentary and public concern have focused on the evident trend decline in the share of U.S. national income flowing to labor (and the corresponding trend rise in the share of U.S. national income flowing to capital). It seems timely to review the data onlabor’s...
Size does not matter for the time being
Taking the long-term development of small caps versus large caps into consideration shows that there is a strong relationship with the general equity market development. Small caps outperform when equity markets are rising and vice versa. Based on the recent development...