Fund house Carmignac relies on growth stocks and gold

Edouard Carmignac The co-founder and director of the asset manager Carmignac wants to modernize his company. (Photo: Carmignac) Frankfurt Edouard Carmignac sees the relaxation of exit restrictions in Paris as a liberation. Finally, he can drink his espresso again in the “CafĂ© de Flore”, where Simone de Beauvoir and Jean-Paul Sartre have already traveled. It […]

Credit Suisse & Co. reach for fortune from Luckin-Coffee-Chef

Luckin Coffee A court hearing to liquidate Charles Zhengyao Lu’s private company is scheduled for June 8. (Photo: Reuters) Hong Kong The lending banks are taking action against the chairman of the Chinese coffeehouse chain Luckin Coffee. The institutions represented by Credit Suisse have initiated legal proceedings to liquidate Charles Zhengyao Lu’s private company, according […]

Corona leads to a selection process in asset management

Frankfurt When Sergio Ermotti, the outgoing CEO of the Swiss bank giant UBS, presented the figures for the first three months of 2020, he was not lacking in self-confidence. “You saw UBS at its best this quarter,” said Ermotti when he presented a net profit of $ 1.6 billion despite the corona crisis, the best […]

Why JP Morgan Asset Management is optimistic in the long term

View of the DAX board on the Frankfurt Stock Exchange The earnings prospects for long-term investors are better after the crash than they were six months ago. (Photo: AFP) Frankfurt It is always in late autumn that the analysts and strategists at the US asset manager JP Morgan Asset Management set out to review the […]

Blackrock loses major shareholder PNC

new York Blackrock loses its largest shareholder. The American regional bank PNC will part with its stake in the world’s largest asset manager in the coming days, the institutes said on Monday. PNC, based in Pittsburgh, Pennsylvania, has had a stake in Blackrock for over 20 years and currently holds approximately 22 percent of the […]

Commerzbank fails with the sale of mBank

Frankfurt Commerzbank has decided not to sell its Polish subsidiary mBank. “In an environment currently shaped by the corona crisis, a transaction on attractive terms does not appear to be achievable,” the Frankfurt Institute justified the decision. Commerzbank had put the Polish subsidiary up for sale in the autumn to free up capital for the […]

DWS wants to further reduce costs – customers deducted billions

DWS logo DWS is the largest fund provider for private investors on the German market. (Photo: Reuters) Frankfurt The fund company DWS does not rule out a tightening of its austerity policy because of the corona crisis. Management was determined and able to find and implement further savings potential should the earnings situation make it […]

Deutsche Bank plans to offer card readers for small shops

Card reader The corona crisis could accelerate the growth of cashless means of payment. (Photo: dpa) Frankfurt Deutsche Bank plans to expand its payment transaction activities and offer card readers for smaller retail outlets with its US provider First Data. “At the checkout, customers are paying more and more with cards instead of cash,” said […]

Consumer advocates and the banking industry are promoting uniform supervision

Bafin In the future, the financial supervision should monitor the approximately 38,000 financial asset brokers. (Photo: Reuters) Berlin Bank associations and consumer advocates tend to have different opinions on regulatory issues. Now they have decided to take an unusual step: In a joint letter to parliamentarians from the government factions, the central association of the […]

Fund investors in Europe are pulling record amounts of money

Pimco headquarters in California As a bond house, Pimco has benefited greatly from the boom in this asset class in recent years. (Photo: Pimco) Frankfurt A cartel of silence dominates the European fund market. None of the big asset managers want to talk about the massive escape of investors from the products. In March, customers […]