Canada Asset Management News

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• June 2023: Ninepoint Partners LP, one of Canada’s investment management firms, has announced the expansion of its partnership with Chicago-based private credit asset management firm Monroe Capital LLC, a leader in middle-market private lending with approximately USD 16 billion in assets under management.
• April 2023: CapIntel, a financial technology company, has made a new strategic partnership with SEI, a global provider of technology and investment solutions that connect the financial services industry. SEI will likely utilize CapIntel’s intuitive sales platform to further streamline sales and marketing processes and enhance communications around SEI’s investment solutions.

• On December 24, 2021, HSBC Asset Management India signed a deal to buy L&T Investment Management (LTIM) from L&T Finance for USD 425 million. LTIM is a wholly-owned subsidiary of L&T Finance and the investment manager of the L&T Mutual Fund. The deal is part of the British lender's strategy to build its wealth and asset management presence in Asia.
• On January 28, 2021, Sundaram Asset Management Company (AMC) announced the acquisition of Principal Asset Management, the Indian business of the global financial services major, Principal Financial Group, for INR 33.8 billion (USD 409 million).

• In 2022, HDFC Mutual Fund launched two new fund offers (NFOs): the HDFC NIFTY 100 Index Fund and the HDFC NIFTY 100 Equal Weight Index Fund. According to the fund house, the investments are geared at investors seeking returns that are comparable to the NIFTY 100 Index and NIFTY 100 Equal Weight Index, respectively. As of December 31, 2021, Indian large caps accounted for 68% of the Indian-listed space in terms of market capitalization.
• In 2021, ICICI Prudential Mutual Fund announced the launch of the ICICI Prudential FMCG ETF. Subject to monitoring faults, the service promises to produce returns that roughly match the returns provided by its benchmark Nifty FMCG TRI Index in the same proportions. The fund will be traded on both the BSE and the NSE.

Introduction of Smart Beta : Smart beta refers to an investment strategy that combines elements of passive index investing with those of actively managed investing. Smart beta investment strategies can be used for fixed income assets like bonds as well as stocks. They seek to outperform index funds by exploiting one or more performance factors other than market capitalization. These may include momentum, liquidity, earnings, volatility, or dividend growth. Smart beta funds generally have lower expenses than actively managed funds but higher expenses than index funds.

Crypto Currency Asset Market has been the fastest-growing segment in the US Asset Management Market in past few months. cloud based crypto asset management provides individuals and enterprises with improved flexibility as well as cost effective solutions. The demand for crypto asset management has increased post pandemic in weeks.

According to one of the top players , BlackRock Inc , The new asset market demands equities over bonds. Top player companies think it has reduced the risk of central banks slamming the brakes to contain inflation. This is upgrading developed market (DM) stocks as a result. The market expectations of rate hikes have become excessive and have created opportunities in equities. Asset managementnCompanies downgrade credit, preferring to take risk in equities.

Bussiness Standards - one among top US journals has claimed on 23 February 2022 that Gold has emerged as Best - performing asset class in 2022. The gold was trading at around $1,900 per ounce in the international market in beginning of 2022, up from $1,796 at the end of January. The precious metal made an intra-day high of $1,918 in this span. Currently, gold is trading at its highest level since January 2022.

• July 2023: Citi has launched its Trade and Working Capital eLoans solution for its U.S. CCB clients. The solution is designed to help clients meet their current and projected working capital needs through loan advances via Citi’s easy-to-use and secure eLoans platform. The eLoans platform aims to support clients by allowing qualified clients to access liquidity for running their commercial business, reducing manual touch points, allowing clients to manage outstanding loans via repayment features, and enhancing self-service reporting via automated notifications, among other features.
• May 2023: JPMorgan Chase acquired the substantial majority of assets and assumed the deposits and certain other liabilities of First Republic Bank from the Federal Deposit Insurance Corporation (FDIC). Acquisition of most of First Republic Bank’s assets, including approximately USD 173 billion of loans and about USD 30 billion of securities.

• September 2023: Akur8, described as the insurance pricing solution utilizing machine learning, has announced a strategic collaboration with SGI CANADA, a prominent property and casualty insurance division operating in five Canadian provinces, with the shared goal of enhancing the insurance pricing process. The partnership aimed to optimize SGI CANADA’s insurance pricing process by incorporating Akur8’s risk module for P&C lines, reflecting a commitment by both firms to harness cutting-edge technology for insurance pricing in Canada.
• July 2023: Bees360, the provider of drone-enabled property inspection services powered by artificial intelligence (AI), and Hosta AI, the advanced provider of AI-enabled interior property inspections, partnered to transform the insurance claims process. The main aim of the partnership was to bring operational efficiencies and advanced interior data analytics to the insurance industry.

• January 2023: Dubai National Insurance (DNI), an Insurance company in the UAE, has entered into a strategic partnership with Takalam, a UAE-based online counseling platform for mental well-being. With this partnership, individuals, as part of their DNI package, will be offered private and easy access to mental health professionals, tools, and solutions.
• December 2022: Turtlefin, the insurtech platform, announced a partnership with The Continental Group, one of the UAE’s insurance intermediaries and financial services solutions providers. The company was expected to provide its software-as-a-service platform modules, enabling The Continental Group’s distribution teams to access relevant information and customize proposals for their clients seamlessly.

• June 2023: Ninepoint Partners LP, one of Canada’s investment management firms, has announced the expansion of its partnership with Chicago-based private credit asset management firm Monroe Capital LLC, a leader in middle-market private lending with approximately USD 16 billion in assets under management.
• April 2023: CapIntel, a financial technology company, has made a new strategic partnership with SEI, a global provider of technology and investment solutions that connect the financial services industry. SEI will likely utilize CapIntel’s intuitive sales platform to further streamline sales and marketing processes and enhance communications around SEI’s investment solutions.

• In 2021, BTG Pactual hired a private banker from the Swiss private bank Credit Suisse for its Miami wealth management business. Leonardo Brayner joined the Brazilian group after having spent 11 years at Credit Suisse's offices in The Bahamas, where he most recently served as a vice president of wealth management on its client service desk.
• In 2021, Credit Suisse made a USD 400 million cash distribution, in line with its announcement that Credit Suisse would repay some of the money from the closed Greensill supply chain funds. The money will be paid to the investors in the bank's Virtuoso SICAV-SIF funds. Credit Suisse's four Virtuoso SICAV-SIF funds were invested in the supply chain funds.

• December 2022: The new real-time payment technology would launch in the UAE early the following year to speed up financial transactions. The new Instant Payment Platform (IPP) will debut in the first quarter of 2023 with a trial group of authorized financial institutions and will be implemented in stages.
•  December 2022: A start-up in Dubai claims to have developed a technology that would increase restaurant sales and enable personnel to get three to five times as much in gratuities. Spades discovered that by speeding up transactions and enabling quicker table turnover, its payment system had increased revenue by 8% to 20%. Instead of calling a server and waiting for them to bring a point of sale (POS) machine, customers utilizing the Spades system scan a code with their phones, place their orders with a staff member, and then pay by typing their information into the phone's browser.