All articles by Verdict Staff
Verdict Staff
Management fees need to improve, say institutional investors in alternative assets funds
The majority of institutional investors that were interviewed by Preqin at the end of 2014 believe that more needs to be done with regards to the management fees they pay on alternative assets fund investments.
Nippon Life Insurance buys additional 9% stake in Reliance Capital Asset Management
Nippon Life Insurance (NLI), a Japanese provider of life and non-life insurance products and services, has completed the purchase of an additional 9% stake in Reliance Capital Asset Management for an aggregate value of INR6.57bn (US$108m).
Merrill Lynch lures $175m advisory team from UBS
Merrill Lynch has lured a team of two financial advisors from UBS Financial Services that managed more than $175m in client assets.
EY expands wealth & asset management practice
Consulting major EY has appointed Ray Iler, former regional leader of Deloitte’s hedge fund practice, to its wealth & asset management practice.
Coutts’ Swiss arm under German investigation for aiding tax evasion
The Swiss operation of Coutts is being probed by the German authorities on alleged aiding of client tax evasion.
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Covenant Multifamily Offices opens office in Oklahoma City
San Antonio-based wealth management firm Covenant Multifamily Offices has opened its first office in Oklahoma City after completing acquisition of local wealth management practice Covenant Financial Services.
State Street investor confidence falls in February by 1.4 Points to 105.2
State Street Global Investor Confidence Index (ICI) for February 2015 decreased to 105.2, down 1.4 points from Januarys revised reading of 106.6.
RBC Bahamas wealth management unit accused of tax fraud, money laundering
French prosecutors are demanding punishment for Royal Bank of Canadas (RBC) Bahamas wealth management arm as it faces a tax fraud and money laundering probe.
Hong Kong’s Value Partners selects Charles River’s solution for portfolio management
Value Partners Group, a Hong Kong-listed asset management company, has selected The Charles River Investment Management Solution (Charles River IMS) for portfolio management, trading, compliance, and performance measurement and attribution.
RBC wealth arm Q1 income drops 2%
The wealth management business of Royal Bank of Canada (RBC) has posted a net income of C$230m for the first quarter ended 31 January 2015, down C$5m or 2% compared to same period last year.