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Search resuls for: "Investment Association"


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Hong Kong/London CNN —Battered by Western sanctions, Russia’s largest privately owned bank is expanding its business in the world’s second-largest economy. That would make the lender the first private Russian bank to open full-service branches in the two major Chinese cities. The bank is part of Alfa Group, one of Russia’s largest financial and investment conglomerates, which was founded by Fridman. Alfa Bank made a loss of 117.1 billion rubles ($1.44 billion) in 2022, according to its annual report for that year. A year later, it seemed to bounce back, reporting profit of 120.9 billion rubles ($1.4 billion) for 2023.
Persons: Mikhail Fridman, hasn’t, Fridman Organizations: London CNN, Alfa Bank, CNN, Alfa Group, European, Moscow, Hong Kong Equity Investment Association Locations: China, Hong Kong, London, Russian, Beijing, Shanghai, Ukraine, United States, Russia, Italy, Western
British investment managers get green light for tokenised funds
  + stars: | 2023-11-24 | by ( ) www.reuters.com   time to read: +2 min
REUTERS/Kevin Coombs/File Photo Acquire Licensing RightsLONDON, Nov 24 (Reuters) - British investment managers have got the go-ahead to develop tokenised funds, in which assets are split into smaller tokens backed by blockchain technology, the industry's trade body said on Friday. Tokenisation, or fractionalisation, of funds will enable a fund's assets to trade more cheaply and transparently and investors to buy into a wider range of assets, industry proponents say. Funds authorised by Britain's Financial Conduct Authority can take the first steps towards offering tokenised funds, provided the investments are in mainstream assets and valuation and settlement arrangements don't change, the Investment Association said in a statement. Scrimgeour is chair of a working group which is working with the FCA and Britain's finance ministry to open up opportunities for tokenised funds. Investment managers and exchanges in the United States, Europe and Asia have already taken tentative steps in offering tokenised funds.
Persons: Kevin Coombs, tokenisation, Michelle Scrimgeour, Scrimgeour, Carolyn Cohn, Elizabeth Howcroft, Sharon Singleton Organizations: REUTERS, Britain's Financial, Investment Association, Legal, General Investment Management, FCA, BlackRock, Investment, Thomson Locations: Canary Wharf, London, Britain, United States, Europe, Asia
[1/2] Voters walk past Vote Yes and Vote No signs at the Old Australian Parliament House during The Voice referendum, in Canberra, Australia, October 14, 2023. At an Oct. 14 referendum, Australians overwhelmingly voted down a proposal to create a constitutionally-protected Indigenous parliamentary advisory body, known as the Voice. Without a political solution, it is now up to the companies themselves to pursue strategies to address entrenched disadvantage in Australia's 3.8% Indigenous population, corporate leaders and political researchers said. Indigenous reconciliation remains largely unresolved in Australia which, unlike New Zealand, Canada and the U.S., never signed a treaty with its first inhabitants after European arrival. The companies could now "take meaningful corporate actions to close the gap, such as by hiring and retaining Indigenous staff and systematically co-designing projects that impact Indigenous Australians," she added.
Persons: Tracey Nearmy, there's, Rob Scott, Scott, Geraldine Slattery, Ross Piper, it's, Intifar Chowdhury, Estelle Parker, Byron Kaye, Melanie Burton, Sonali Paul Organizations: Old Australian, House, The, REUTERS, Rights, Kmart, Target, Airline Qantas, First Nations, BHP, Australia, Australian, Australian National University, Responsible Investment Association Australasia, Thomson Locations: Canberra, Australia, New Zealand, Canada, U.S, Melbourne
Bloomberg | Bloomberg | Getty ImagesChina's lackluster economic recovery since emerging from strict "zero-Covid" lockdowns has caused weaker sentiment toward the country, prompting investors to look for alternative options — like its near neighbors. Higher targets for JapanForeign investors have undoubtedly been key in driving the Japanese market, maintaining the highest levels the Nikkei has seen since 1990. During the same period last year, foreign investors had sold a net 1.73 trillion yen approximately. Wall Street banks including Morgan Stanley and Societe Generale are among those that are optimistic on Japanese stocks, holding "overweight" positions. Upside for Korea tech stocksSouth Korea is another market closely watched as concerns over China's recovery linger.
Persons: Goldman, Andrew Tilton, Berkshire Hathaway's Warren Buffett, India's, Goldman Sachs, Tilton, Morgan Stanley, ROE, Mike Wilson, we've, Price, Goldman's Tilton, Rhee Chang, Nomura, Chloe Andrieu, Pranjul Bhandari, Bhandari Organizations: Bloomberg, Getty, Asia, Pacific, Japan Foreign, Nikkei, Japan's Ministry of Finance, Societe Generale, Equity, U.S, UBS Global Wealth, U.S ., UBS, The Bank of, CNBC, Citi, AFP, Afp, Korea Financial Investment Association, South Korean, Fitch, Ben Advisors Locations: Macau, China, Japan, South Korea, India, Goldman Sachs, Berkshire, South, Shanghai, Shenzhen, Wall, Korea, Asia, The Bank of Korea, Fuyang, China's, Anhui, Indonesia
LONDON, March 29 (Reuters) - Britain's financial watchdog said on Wednesday the introduction of new sustainability disclosure requirements (SDR) for asset managers to prevent greenwashing will be pushed back and softened to avoid excluding many funds. The new requirements aim to stop asset managers over-inflating the sustainability credentials of investment funds they sell - so-called greenwashing. The watchdog will also widen the scope products that are labelled as sustainable so fewer funds would be excluded. The FCA said the new rules would clarify that it will not need independent verification of product categorisation to qualify for a sustainability label. There will also be a place for all "in scope" products within the overall package of measures, it said.
FCA officials said the sector will begin adapting ahead of the rules, as it did with similar rules in the European Union. They rejected concern among lawmakers the new regime would create "bubbles" as money flocked to the fewer funds that qualify as sustainable. Lawmakers on the committee examining the FCA's proposals put Cummings on the defensive over his criticism that too many funds will be excluded. Kate Levick, associate director of sustainable finance at think tank E3G, told the hearing the FCA's plan "would remove the significant amount of greenwashing currently in the market". ($1 = 0.8290 pounds)Reporting by Tommy Reggiori Wilkes and Huw Jones; Editing by Mark Potter and Emelia Sithole-MatariseOur Standards: The Thomson Reuters Trust Principles.
It also prompted regulators and policy makers last year to start calling for action to address the risks related to LDI strategies. As the crisis unfolded, U.K. pension funds began rushing to raise cash to satisfy collateral calls triggered by the moves on the government bonds. The committee, which in part scrutinizes the work of government agencies, said regulators failed to sufficiently focus on the risks associated with LDI strategies. This meant that while interest rates were falling, pension funds benefited. There should additionally be stricter limits and reporting on the amount of leverage allowed in LDI funds, the committee chair said.
BEIJING, Dec 9 (Reuters) - China's President Xi Jinping said in Riyadh on Friday that China and Gulf nations should make full use of the Shanghai Petroleum and National Gas Exchange as a platform to carry out yuan settlement of oil and gas trade. China and states of the Gulf Cooperation Council (GCC) are natural partners for cooperation, Xi said in a speech at the China-GCC summit. In his speech, Xi proposed other areas for cooperation in the next three to five years, including finance and investment, innovation and new technologies, as well as aerospace, and language and cultures. China will also establish bilateral investment and economic cooperation working mechanisms, carry out local currency swap cooperation and deepen digital currency cooperation, he said. In his speech, Xi also called on China and GCC nations to be partners in promoting unity, development and security.
In a surprise move, the Canadian government said earlier this month that it had decided to cease issuance of real return bonds (RRBs), citing low demand. That makes them an expensive form of financing for the government, but cost should not be the only consideration, investors say. The median allocation by defined benefit pension plans, a major category, to RRBs was 5.2% in 2021, data covering members of the Pension Investment Association of Canada (PIAC) shows. U.S. Treasury Inflation-Protected Securities (TIPS) could act as a proxy but are not an exact hedge against Canadian inflation. Breakeven rates are the difference between yields on nominal and real return bonds.
"With the cost-of-living crisis hitting UK households, investors want to see companies show restraint on executive pay and bonuses, ensuring that executive pay packets are balanced against the experiences of their wider workforce, customers, and other stakeholders," Andrew Ninian, IA director for stewardship and corporate governance, said on Thursday. With UK inflation more than 10% at a 40-year high, the IA said pay increases in line with rising prices may not be appropriate. The retention and motivation of employees below the executive level will be key and board decisions could affect productivity of the whole workforce, the IA said. Companies should also spell out how executive bonuses will be linked to meeting their environment, social and governance targets in future years, the IA said. ($1 = 0.8740 pounds)Reporting by Huw Jones Editing by Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.
Britain's fund management assets rise in 2021, slowdown seen
  + stars: | 2022-09-26 | by ( ) www.reuters.com   time to read: +2 min
Register now for FREE unlimited access to Reuters.com RegisterA worker arrives at his office in the Canary Wharf business district in London Feb. 26, 2014. LONDON, Sept 27 (Reuters) - Fund managers in Britain posted a 6% rise in assets under management to 10 trillion pounds ($10.8 trillion) last year, but a slowdown is likely, the Investment Association (IA) said on Tuesday. The 2021 growth rate was below the 11% compound average annual increase seen in the last 10 years, according to an IA survey. Register now for FREE unlimited access to Reuters.com Register"Rising interest rates bring the spectre of recession and weaken the outlook for asset growth." ($1 = 0.9260 pounds)Register now for FREE unlimited access to Reuters.com RegisterReporting by Carolyn Cohn and Huw Jones Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.
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