Asset managers

1. RBS Posts Loss, Cautious Outlook

   Royal Bank of Scotland Group PLC, which is about to see its government ownership rise to 84%, posted a £1.8 billion ($2.99 billion) net loss for the third quarter, hurt by £3.28 billion in impairment losses, and said it remains cautious on the outlook.

2. Mercer moves into wealth management

   Mercer, the US-based consultant, has announced a move into the European wealth management sector, providing research, investment strategy and governance advice for the wealth management industry.

3. Brevan Howard's investors voice concern over its size

   Europe's largest hedge fund manager has sought to address concerns among some investors that it is too large to continue making strong returns in markets that are shallower than they were before the financial crisis.

4. Fund managers use 'fresh pot of money' to return to full-time hiring

   The asset management industry has returned to the hiring of full-time staff – having got by on using short-term contracts for a year – as improved profitability boosted confidence to make longer term commitments, an investment management consultant has said.

5. LGIM assets swell to record high

   The funds arm of UK insurer Legal & General reported today that its assets under management had reached record levels, thanks to rising markets and flows into its fixed-income and liability-driven investment divisions. The results comes after Financial News revealed yesterday that the company is restricting investors from entering its flagship sterling corporate bond fund.

6. News Analysis: Insight cut down to size

   Lloyds Banking Group is keeping £42bn (€47bn) of assets from Insight Investment, the UK asset manager it sold yesterday, but is keeping only a tiny fraction of the group’s total headcount - suggesting that Insight had become overstaffed in the seven years since its launch.

7. Valuation problems remain unresolved

   The question of what a fund is worth is the one that, ultimately, the whole hedge fund industry turns on. But it is a question that became increasingly hard to answer through the financial crisis when liquidity dried up and it became difficult to find accurate market values for some assets.

8. Fund managers' risk appetite on the rise

   Risk appetite among traditional fund managers in Europe and Asia could be on the rise, according to a new poll of asset and wealth managers which shows a marked shift in asset allocation from six months ago.

9. Citadel opens its 'gates' on better results

   Citadel Investment Group told investors it would fully lift its 10-month ban on withdrawals from the hedge-fund firm.

10. Deutsche returns to profitability in asset and wealth management

    Deutsche Bank's asset and wealth management division has recorded its first quarterly profits in 15 months as a result of lower write-offs and clients reinvesting in its funds.