Tag: blackrock

BNY Mellon reacts to zero interest rates by offering segregated accounts for cash to institutional clients. Sumitomo Trust & Banking stakes growth in a mature pensions market on structuring fund products around its prop-desk activity. The newly appointed chairman of BlackRock Asia-Pacific discusses the asset manager's structure and objectives for the region. The products will provide access to the CSI 300 index and more focused exposure to four sectors, including energy, financials, infrastructure and materials. At the second annual event in Hong Kong, BlackRock's Asia-Pacific head said service providers are now more important to the asset management industry than ever before. iShares gains a Chinese name and parent BGI sets up a Beijing rep office. Allianz and Deutsche appear to be scoring more wins in Taiwan. After a 15-month stint with BlackRock, Wong is back at Fidelity. With CVC Capital Partners out of the picture, Barclays' board sanctions the deal and now awaits shareholder approval. The perils in the acquisition are considerable in Japan, where the BGI franchise has more to lose than to gain. The offer from BlackRock includes the purchase of BGI's iShares business, unless CVC Capital Partners matches the offer. While the mid- to long-term outlook for Asian equities is very attractive, there remains potential for short-term volatility, he says. The market is over-crowded with investors and valuations are stretched. BlackRock is named asset manager of the year by AsianInvestor, while marquee awards also go to the National Pension Service, Goldman Sachs, Lyxor and HSBC Wealth Management. BlackRock's global equity investment teams generally favour companies aligned with Asian domestic consumption rather than those driven by exports. Investment Outlook Series: Nick Scott, CIO for Asian equities at BlackRock, favours companies with strong balance sheets and those likely to benefit from low interest rates. The job cuts are part of an ongoing global process that started in the US, where 10 investment professionals recently lost their jobs. Jing Ning, a senior portfolio manager for Chinese equities at BlackRock, says the sell-off in China-related shares has created attractive buying opportunities for long-term ... At least 70% of the portfolio will be invested in red-chips and H-shares. The fund house says the current economic backdrop should provide a basis for stock prices to grind higher and it prefers more defensive markets such as the US and Japan.