Citywire

8 hours ago | citywire.com | Eva Thomas

In the institutional pipeline, outsourced chief investment officers (OCIOs) are most in demand by foundations and endowments, which use OCIOs to - among other reasons - get better access to alternatives. That’s according to a new report from Boston-based consultant Cerulli Associates, which found that 91% of OCIO providers surveyed said that the endowment and foundation channels are ‘most critical’ for growing the OCIO providers’ AUM.

1 day ago | citywire.com | Eva Thomas

Citi Wealth has sold its global alternative investment fund platform to iCapital. The alternative investment-focused turnkey asset management programme will acquire Citi Global Alternatives and become the advisor to its 180 feeder funds, covering private credit, private equity, growth equity, infrastructure and venture capital. Financial details of the agreement were not disclosed. iCapital declined to comment regarding how many client assets were in the 180 funds. Already have an account?

1 day ago | citywire.com | Serge Debrebant

Oliver Meinschien, Teamleiter für das Wealth Management in Hamburg und Niederlassungsleiter in Berlin, hat Berenberg laut eines Berichts des Branchen-Portals Finanz-Szene verlassen. Die Nachfolge steht bereits fest. Carolin Lukas leitet seit Anfang Mai die Berliner Niederlassung, während André Nogat seit Anfang Mai als Leiter des Hamburger Wealth Managements fungiert. Die Stelle wurde neu geschaffen und deckt Meinschiens Aufgabenbereich teilweise ab.

2 days ago | citywire.com | Eva Thomas

A proposed class action lawsuit has been filed against the Vanguard Group alleging that the $10.1tn firm ‘surreptitiously’ shared sensitive client data with third parties.

2 days ago | citywire.com | Eva Thomas

Gatekeepers at SEI Investments have dropped Allspring Global Investments from two funds with more than $1.3bn in combined assets. Allspring has been dropped from $566m SEI US Managed Volatility fund (SVYAX) and the $777.8m SEI Global Managed Volatility fund (SVTAX), according to a Friday filing with the Securities and Exchange Commission (SEC). On SVYAX, Acadian Asset Management has been added as a subadvisor, the filing shows. On SVTAX, Acadian has served as a subadvisor since 2006.