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PIF, BlackRock deepen ties with new Saudi equities index mandate

1 day ago | citywire.com | Paromita Dey

BlackRock Saudi Arabia and the Public Investment Fund (PIF) have signed an agreement to launch a new index mandate focused on Saudi equities. The agreement is a part of a non-binding letter of intent (LoI) that aims to formalize the strategic collaboration between the Saudi sovereign wealth fund and the global asset manager, potentially through additional allocations to the BlackRock Riyadh Investment Management (BRIM) platform.
SJP hands James Rainbow £2m in shares for Schroders defection

1 day ago | citywire.com | Nour Azhar |John Schaffer |Natalia Vasnier |Sophie Downes

St James’s Place (SJP) has awarded its new wealth management CEO James Rainbow close to £2.1m of shares, after he left Schroders to join the advice giant. Rainbow (pictured) joined SJP on 1 April, and the assignment of shares is due to the ‘buy-out of awards that James forfeited on leaving his previous employment’, according to a market announcement on 14 May. Rainbow had left Schroders in November in his role as UK head, after a 17 year stint at the business. Already have an account?
Neuberger Berman and Franklin Templeton ink deals with Saudi's PIF

1 day ago | citywire.com | Paromita Dey

Saudi Arabia’s Public Investment Fund (PIF) has struck deals with two global asset managers, as the sovereign wealth fund looks to attract investments into the kingdom’s financial markets from global investors. Neuberger Berman has signed a non-binding memorandum of understanding (MoU) with PIF to establish a multi-asset investment management platform based in Riyadh.
ETF investors dump US equities as home bias takes hold

1 day ago | citywire.com | Selin Bucak |Nour Azhar |Chris Sloley

European exchange traded fund (ETF) investors demonstrated a strong preference for domestic and global exposures in April, slashing their US equity allocations in a decisive market rotation. Investors pulled more than €3.6bn from US equity exposures while pouring capital into European large-caps and global strategies, according to Morningstar data.
Fund firms chase public-private partnerships to lure retail money

1 day ago | citywire.com | Selin Bucak

Partnerships between alternative and traditional asset managers are taking off as the investment management industry looks for innovative ways to attract retail money, at a time when institutional capital has become harder to come by. From Blackstone’s tie-up with Vanguard and Wellington to KKR’s partnership with Capital Group, the largest alternative asset managers and the biggest traditional fund shops have realised that it may be better to work together than compete against each other.
Europe equities steal the show at Citywire Middle East Retreat

1 day ago | citywire.com | Paromita Dey

Fund selectors and investment specialists gathered at Citywire Middle East Retreat Doha this week voted for Europe as the top region for increased equity allocations, with 38% of respondents favouring the continent. India and the US followed closely at 36% and 35%, respectively. One fund selector remarked that Europe has become the ‘de-facto choice’ for many investors seeking stability in the post-Trump era.
Fund Files: Schwab fund to scrap ESG; VanEck launches digital assets ETF

2 days ago | citywire.com | William Johnson |Sam Bojarski |Alec Rich

Charles Schwab is taking the ESG out of a subadvised ESG ETF. The company plans to change the $24m Schwab Ariel ESG ETF (SAEF) into the Schwab Ariel Opportunities ETF by the end of July, according to a recent filing with the Securities and Exchange Commission (SEC). All ESG investment risks and considerations would come off, and the fund would solely focus on small and medium sized companies Ariel has confidence in based on its ‘contrarian’ investing style. Already have an account?
The public-private combo: AMs find new solution to attract retail money

2 days ago | citywire.com | Selin Bucak

Partnerships between alternative and traditional asset managers are taking off as the investment management industry looks for innovative ways to attract retail money, at a time when institutional capital has become harder to come by. From Blackstone’s tie-up with Vanguard, and Wellington to KKR’s partnership with Capital Group, the largest alternative asset managers and the biggest traditional fund shops have realised that it may be better to work together than compete against each other.
Endowments, foundations look to OCIOs for alts access: Report

2 days 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.
Lord Abbett partner to retire, come off $83bn in funds

2 days ago | citywire.com | William Johnson

Kewjin Yuoh, a longtime bond manager for Lord Abbett, will be retiring on September 30, and will subsequently be removed from several funds with more than $80bn in assets. Following his departure, Yuoh will come off several large fixed-income mandates, including the $4.5bn Lord Abbett Core Fixed Income fund (LCRYX), the $3.8bn Lord Abbett Core Plus Bond fund (LAPIX) and the $3.6bn Lord Abbett Total Return fund (LTRYX).