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Deloitte Tips ‘Record’ Funds Management M&A

Posted by Anton Murray Consulting on . Posted in Investment Banking News, News

InvestorDaily

Mergers between global asset management firms are likely to accelerate throughout 2018 as low-cost passive strategies continue to put pressure on margins, predicts Deloitte. Growing margin pressure could see 2018 record the highest M&A deal value for the investment management sector, according to a new report by Deloitte. Deloitte’s 2018 Investment Management Outlook outlined a number of key challenges in the year ahead for professional money managers.

Fund managers will have to adapt to changing customer preferences, which (with the emergence of Millennials) could experience a “quantum shift” as opposed to the incremental changes the industry has seen in the past decade, said Deloitte. In addition, with investors favouring low-cost strategies at present, the onus will be on fund managers to “make the case” for alpha and active management in general, said the report. “The average investment management firm will likely be less profitable and have roughly the same assets under management (AUM) at the end of 2018 as in the beginning, even in a continuing bull market,” predicted Deloitte.

The rest of this article can be found at investordaily.com.au.

Asian wealthy hold onto stocks despite high prices

Posted by Anton Murray Consulting on . Posted in Investment Banking News, News

AsianInvestor

Soaring Asian equities are making wealthy investors cautious about further allocations, but few are ready to exit just yet, say private bankers. Asia’s affluent individuals are largely retaining their equity allocations for now, despite growing concerns about high stock prices in the region, say wealth managers and investment specialists. Yet the widespread consensus is that return expectations will need to be tempered for 2018, after stellar performances in several Asian equity markets this year.

The MSCI Asia ex-Japan index has returned around 38% year to date in dollar terms, while the MSCI World has put on 21% over the same period. Asia-based family office executives told AsianInvestor earlier this month that they are worried about high equity valuations across the board and cautious about further allocations amid concerns over rising risks. And some large institutional investors, such as Australia’s Future Fund and the Third Swedish Pension Fund, also voiced concerns at AsianInvestor’s Southeast Asian Investor Forum earlier this month.

The rest of this article can be found at asianinvestor.net.

AMP Capital Takes 24.9% Stake in US Manager

Posted by Anton Murray Consulting on . Posted in Investment Banking News, News

InvestorDaily

AMP Capital has announced the acquisition of a 24.9 per cent minority stake in Los Angeles-based real estate investment manager PCCP. The minority investment in PCCP, which provides commercial real estate debt and equity capital for US real estate investments with products such as debt closed-ended funds and SMAs, will further AMP’s international growth, according to a statement. PCCP’s client base includes “major US public pension plans, commercial banks and insurance companies as well as leading international investors”, the statement said.

Commenting on the acquisition, AMP Capital chief executive Adam Tindall said, “The investment in PCCP is in line with our strategy to leverage the strengths of our real assets capabilities in international markets. “Our real estate equity business is well established in Australia and New Zealand, and this investment will diversify our business by both geography and capability, especially through PCCP’s real estate debt expertise.” He said that there was a “strong opportunity” to match PCCP’s experience in the American market with the reach of AMP Capital’s network, particularly regarding Asia.

The rest of this article can be found at investordaily.com.au.

Bitcoin Debuts on the World’s Largest Futures Exchange – Prices Fall Slightly

Posted by Anton Murray Consulting on . Posted in Investment Banking News, News

CNBC

 CME, the world’s largest futures exchange, launched its own bitcoin futures contract Sunday under the ticker “BTC.” The CME’s most popular futures contract, which expires in January, settled 2.05 percent lower Monday at $19,100. The product had opened at $20,650 and initially traded higher.

Trading was far less volatile than the initial 19 percent surge in Cboebitcoin futures during their first day of trading a week ago. The Cboe bitcoin futures, traded under the ticker “XBT,” on Monday settled 5.25 percent higher at $19,055. Because of the initial gains in the Cboe bitcoin futures, “I think today people were anticipating a similar type of event,” said Joe Van Hecke, founder and managing partner at Chicago-based trading firm Grace Hall. “The aggressiveness of the bids did take me by surprise.”

The rest of this article can be found at cnbc.com.

Millennials Tipped to Drive ETF Growth in 2018

Posted by Anton Murray Consulting on . Posted in Funds Management News, Investment Banking News, News

InvestorDaily

Millennials will continue to be a core driver of growth and interest in ETFs next year, alongside innovation in fixed income ETFs and the rising popularity of active ETFs, predicts BetaShares.  According to a note by BetaShares outlining three predictions for the ETF industry for 2018, Millennials have contributed to the growth of the ETF sector having gravitated to it for its flexibility in allowing them to select investment themes important to them. “Millennials are attracted by the low cost, simplicity and ease of use of ETFs,” the note said.

“ETFs such as the Australian and Global Sustainability Leaders ETFs allow younger investors to invest according to their values, whereas products such as the Nasdaq 100 ETF or our Cybersecurity ETF, allow them to be exposed to companies whose products resonate with their daily lives.” Citing CommSec data from this year, the note revealed Millennials made up 25 per cent of all ETF trades done in Australia this year. Feedback from BetaShares’ younger clients also established that interest in ETFs was due to its diversification benefits, which allowed them to begin investing in share markets.

The rest of this article can be found at investordaily.com.au.