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Asia's family offices set to grow
Asset Management
Independent asset managers (IAM) pose an increasing threat to conventional private banks, poaching wealthy clients by applying the latest technologies to enhance services and reduce fees. Ironically, private banks have regarded these multi-family offices themselves as clients, but they have been slow to adopt systems to cut trading and administrative costs, according to panelists at the AsianInvestor Fund Selector Forum…
Daily Scan: Hang Seng futures climb; FOMC stresses December hike
Capital Markets
Updated throughout the day November 19 The FOMC minutes came out Wednesday, and the markets saw that it was good. Futures on the Hang Seng Index are tipping to a 0.53% pop at the open, while those on the Nikkei 225 are signaling a 0.66% jump. CSI 300 contracts however were spooked by the IPO backlog, and hinted at a…
Blackrock macro-fund closure
Hedge Funds
Earlier this week, I posted Blackrock's latest asset allocation advice. On Thursday, the Financial Times reports that the world's biggest fund manager is closing its $1 billion macro-hedge fund after suffering its worst-ever slump as well as investor outflows. "The Global Ascent fund is down about 9.4% this year — its worst performance since it was launched in 2003. The fund lost…
Democratization of markets
  Average investors are big beneficiaries of morphing markets, financial technology (fintech) and more market information than at any point in history.  For ordinary investors, trading is more analytically sophisticated, faster and cost-effective ever. Markets are democratizing. Back in the day, average investors pretty much stuck to the stock market, or maybe a bond here or there. Their key strategy:…
December 'could well be' the time for a rate hike -- depending....
Capital Markets
From the October meeting minutes of the Federal Open Markets Committee released Wednesday afternoon in Washington, D.C. (boldface added for emphasis): During their discussion of economic conditions and monetary policy, participants focused on a number of issues associated with the timing and pace of policy normalization. Some participants thought that the conditions for beginning the policy normalization process had already…
Spiderman advises new fund
Venture Capital
Tobey Maguire is putting his Spidey sense to use, connecting his Hollywood buddies with a new venture capital fund. Joe Lonsdale, young tech giant and founder of the now closed Formation 8 fund, has grabbed Maguire as an advisor for his latest fund, reports the New York Post. The $50 million Eight Partners Fund 1 is investing in early-stage tech…
Daily Scan: Stocks rise; ISIS claims responsibility for Russian plane crash
Capital Markets
November 18, 2015 Stocks are up Wednesday, with the S&P 500 gaining 0.75% by midday. The Dow added more than 0.7% as well, and the Nasdaq was up nearly 0.9%. European bourses pared losses.  Airline stocks fell as terrorist threats continue to shake the sector: Two Air France planes were forced to divert flights Tuesday in response to bomb threats and in…
The note making waves today: Goldman adds Apple to 'Conviction Buy' list
Capital Markets
The share price of Apple Inc. (NASDAQ: AAPL) have appreciated 3 percent year-to-date, although the shares have been volatile all through the year. Goldman Sachs’ Simona Jankowski has maintained a Buy rating on the company, with a price target of $163. While adding the stock to Goldman Sachs’ Conviction Buy List, Jankowski mentioned that Apple was currently trading at a…
Video: Partners are key to going global for fintech startup
FinTech
<p>Hedgeable has opted for an open architecture so it can land almost anywhere in the world and set up to provide private wealth management services for millennials. In an interview with NexChange, Mike Kane, founder and "master sensei" at Hedgeable, says there are still two things fintechs need to move forward from there.</p>