Core Insights - The article emphasizes the importance of understanding macro trends and their influence on asset prices and investor behavior, particularly in the context of equity analysis and research [1]. Group 1: Professional Background - The author has over 10 years of experience in asset management, focusing on equity analysis, macroeconomics, and risk-managed portfolio construction [1]. - The professional background includes advising on and implementing multi-asset strategies, with a strong emphasis on equities and derivatives [1]. - The author holds a BA in Financial Economics and an MA in Financial Markets, indicating a solid academic foundation in finance [1]. Group 2: Investment Philosophy - The article promotes the idea that investing should be accessible, inspiring, and empowering, aiming to build confidence in long-term investing [1]. - The author expresses a commitment to sharing insights and exchanging ideas with fellow investors to enhance collective knowledge and investment strategies [1]. Group 3: Market Analysis Focus - The author closely follows EU and US central bank policies, sector rotation, and sentiment dynamics, which are crucial for constructing actionable investment strategies [1]. - The analysis reflects a deep understanding of how macroeconomic factors can impact market conditions and investor behavior over time [1].

Industry Overview - The gaming sector has experienced a significant turnaround over the last 12 months, moving from a post-pandemic correction to a robust rebound in 2025 [1] Company Insights - FinHeim Research specializes in investment analysis and portfolio management, focusing on both traditional companies and technology sectors, with an emphasis on thematic investing and macroeconomic trends [2]

Core Insights - The article emphasizes the importance of understanding macro trends and their influence on asset prices and investor behavior, particularly in the context of equity analysis and research [1]. Group 1: Professional Background - The author has over 10 years of experience in asset management, focusing on equity analysis, macroeconomics, and risk-managed portfolio construction [1]. - The professional background includes advising on and implementing multi-asset strategies, with a strong emphasis on equities and derivatives [1]. Group 2: Investment Philosophy - The article advocates for making investing accessible, inspiring, and empowering, highlighting the value of sharing insights and building confidence in long-term investing [1]. - The author encourages readers to conduct their own research before making investment decisions, reinforcing the idea that the analysis provided is for informational purposes only [1].

Core Insights - FTAI Aviation Ltd. has successfully completed fundraising for its inaugural Strategic Capital Initiative vehicle, FTAI SCI I, reaching a hard cap of $2.0 billion in equity commitments, an increase from the original target of $1.5 billion [1][2] - FTAI SCI I is positioned to be the largest aircraft leasing vehicle focused on acquiring mid-life, current generation aircraft, with a total purchasing power exceeding $6 billion, including current and future debt financing [1][2] Company Strategy - The company made a strategic decision to launch an asset management business aimed at acquiring on-lease, mid-life aircraft, which has garnered support from a diverse group of institutional investors [2] - FTAI Aviation is recognized as a leader in aftermarket engine maintenance for CFM56 and V2500 engines and aims to become one of the largest lessors of these aircraft globally [2] Market Opportunity - The mid-life, current generation aircraft market is valued at approximately $300 billion and is in need of a well-capitalized buyer to support the engine requirements of airlines as they extend the operational life of their fleets [2] - FTAI's global engine maintenance capabilities will allow the company to leverage its aircraft investment expertise and operational strengths to provide attractive risk-adjusted returns for investors [2] Investment Progress - FTAI SCI I has already invested $1.4 billion in acquiring 101 aircraft and has an additional $2.1 billion of aircraft under contract, totaling 190 aircraft either closed or under letter of intent [2] - Full deployment of the vehicle is anticipated by the end of the first half of 2026 [2] Legal and Financial Advisory - Kirkland & Ellis LLP is serving as legal counsel for the formation of FTAI's Strategic Capital Initiative, while Lincoln International LLC is acting as financial advisor [3] Company Overview - FTAI Aviation Ltd. specializes in aftermarket power for CFM56 and V2500 engines, providing cost savings and flexibility to airlines through the lease, sale, and exchange of refurbished engines and modules [4] - The company also manages and co-invests in on-lease narrowbody aircraft in partnership with institutional investors through its Strategic Capital Initiative [4]

Goldman Sachs is jockeying for a $10 billion mandate for its asset-management arm from Kuwait’s wealth fund, as part of the Wall Street bank’s efforts to bolster its private markets strategy and compete with larger players in the Middle East https://t.co/cLO42PGnmY ...

Core Insights - The article emphasizes the importance of understanding macro trends and their influence on asset prices and investor behavior, particularly in the context of equity analysis and research [1]. Group 1: Professional Background - The expert has over 10 years of experience in asset management, focusing on equity analysis, macroeconomics, and risk-managed portfolio construction [1]. - The professional background includes advising on and implementing multi-asset strategies, with a strong emphasis on equities and derivatives [1]. Group 2: Investment Philosophy - The goal of sharing insights is to make investing accessible, inspiring, and empowering for fellow investors [1]. - The expert encourages building confidence in long-term investing through shared knowledge and collaboration [1]. Group 3: Market Analysis Focus - The analysis includes close monitoring of EU and US central bank policies, sector rotation, and sentiment dynamics to construct actionable investment strategies [1]. - The expert has navigated various market conditions over the past decade, indicating a robust understanding of market dynamics [1].

Core Insights - Financial Serenity focuses on the asset management sector, providing in-depth analysis of market dynamics [1] - The initiative is managed by Tommaso Scarpellini, who has extensive experience in financial research and analytics [1] - The goal is to deliver data-driven perspectives to assist investors in making informed decisions in a changing market [1] Industry Overview - The asset management market is characterized by evolving dynamics that require rigorous data analysis [1] - Insights are combined with actionable opinions and ratings on ETFs and other trending instruments within the sector [1]

Financial Data and Key Metrics Changes - Firm wide assets under management (AUM) reached $860 billion, marking a new milestone [6] - Adjusted earnings per unit for Q3 were $0.86, a 12% increase year-over-year [40] - Net revenues for Q3 were $885 million, reflecting a 5% increase compared to the prior year [41] - Total adjusted operating expenses were roughly flat at $582 million compared to the prior year [42] - Adjusted operating margin rose to 34.2%, a 209 basis point increase from the prior year [51] Business Line Data and Key Metrics Changes - Bernstein Private Wealth AUM reached a record high of $153 billion, focusing on ultra high net worth clients [7] - Institutional asset management business AUM stood at $351 billion, catering to long duration capital pools [7] - Retail platform AUM was $356 billion, with strong growth in tax exempt fixed income and private alternatives [7][8] - Tax exempt inflows exceeded $4 billion, extending positive organic growth to 11 consecutive quarters [8] - Private markets generated nearly $3 billion of net inflows, reflecting improved conditions in commercial real estate [9] Market Data and Key Metrics Changes - U.S. equity markets delivered strong returns, with the S&P 500 returning 8.1% in Q3 [18] - Small cap stocks outperformed large caps, with the Russell 2000 returning 12.4% [19] - Taxable fixed income sentiment improved, leading to slight net inflows in Q3 [22] - The firm is the number one retail municipal SMA manager, with a 26% annualized organic growth rate in tax exempt retail inflows [90] Company Strategy and Development Direction - The company is focused on expanding its insurance asset management business, with new partnerships and strategic investments [12] - A commitment to providing better outcomes for clients through diversified investment expertise and distribution capabilities [6] - The firm aims to achieve $90 billion to $100 billion in private markets AUM by 2027 [39] - Continued innovation in retirement solutions, including customized target date funds and lifetime income strategies [27][30] Management's Comments on Operating Environment and Future Outlook - Management maintains a positive outlook on fixed income, anticipating a reallocation wave as bonds regain diversification value [17] - The company is well-positioned to capture growth opportunities in Asia, particularly in taxable fixed income [67] - Management expressed confidence in the stability of credit quality despite market volatility [62] - The firm is focused on enhancing margins and operational efficiency while investing in growth initiatives [52] Other Important Information - The firm has successfully onboarded seven new insurance GA relationships across eight strategies [13] - The effective tax rate for Q3 was 6%, in line with full year guidance [44] - The company is committed to distributing 100% of adjusted earnings to unitholders [40] Q&A Session Summary Question: Can you elaborate on the insurance opportunity and the Ruby Re timeline? - Management expressed excitement about the insurance asset management business and clarified that the timing of funding for Ruby Re has not changed [54][56] Question: What is the outlook for private credit and credit quality? - Management noted competitive environments in private credit but reassured that there is no material deterioration in credit quality [62] Question: How is the Asia business performing post-Liberation Day? - Management reported improvement in the Asia business, particularly in taxable fixed income, and noted strong engagement from institutional clients [67] Question: Can you clarify the capital allocation strategy regarding buybacks? - Management indicated that the light buyback activity was due to timing and not related to the Equitable conversion [82] Question: What is the outlook for bond reallocation and its impact on performance? - Management highlighted ongoing appetite for taxable fixed income and expressed confidence in capturing market share through innovative products [88]

BREAKING: @Fidelity, the asset manager with $5.8 Trillion in AUM, makes SOL accessible for all US brokerage customers 🔥 https://t.co/t5F1DauESm ...

Financial Data and Key Metrics Changes - For the first nine months of 2025, total firm-wide revenue was $2.1 billion, including record Financial Advisory revenue of $1.3 billion [4] - Third-quarter firm-wide revenue reached $725 million, up 12% year-over-year, driven by both business segments [8] - Financial Advisory revenue for the third quarter totaled $422 million, up 14% from the previous year [8] - Asset Management revenue for the third quarter was $294 million, an increase of 8% year-over-year and 10% sequentially [9] Business Line Data and Key Metrics Changes - Financial Advisory was active in M&A across healthcare, industrials, and consumer and retail sectors, with notable transactions including Mallinckrodt Pharmaceuticals' $6.7 billion deal [8] - Asset Management saw record gross inflows for the third quarter and the first nine months, achieving net positive flows of $1.6 billion year-to-date, with total AUM up 17% [6][10] - Management fees for Asset Management increased by 6% year-over-year, while incentive fees rose to $9 million from $3 million in the previous year [9][10] Market Data and Key Metrics Changes - The company reported a strong client engagement across major geographies, including the U.S., Europe, and the Middle East, indicating a diversified business model [14] - The effective tax rate for the third quarter was 21.4%, down from 32.5% in the previous year, with an expected full-year 2025 effective tax rate around 20% [12] Company Strategy and Development Direction - The company is focused on long-term growth strategies, including expanding its team of Financial Advisory Managing Directors and enhancing productivity [15][20] - The introduction of new active ETFs and a focus on quantitative and emerging market strategies are part of the Asset Management growth strategy [17][18] - The company aims to double firm-wide revenue from 2023 to 2030 and deliver an average annual shareholder return of at least 10% to 15% [20][21] Management's Comments on Operating Environment and Future Outlook - Management sees an increasingly constructive environment for advisory activity, despite potential temporary impacts from the U.S. government shutdown [13][14] - The company anticipates continued growth in both M&A and restructuring activities, driven by a diverse range of client needs and market conditions [14][72] - Management expressed confidence in achieving operating leverage and reducing the compensation ratio in the Asset Management segment [41] Other Important Information - The company has made significant strides in hiring, with 20 new Managing Directors joining in 2025, enhancing its talent pool [4][15] - The company is expanding its presence in the Middle East and Northern Europe, reflecting its commitment to growth in these regions [11] Q&A Session Summary Question: Thoughts on hiring environment and talent retention - Management noted strong success in attracting high-quality talent and reported very few regrettable departures, indicating a healthy Managing Director pool [25][26] Question: Recent success in driving net inflows in Asset Management - Management highlighted significant inflows in quantitative strategies and emerging markets, with a positive outlook for achieving net neutral flows for the year [30][31] Question: Trends in gross outflows in Asset Management - Management confirmed that gross outflows are lower than last year, primarily from sub-advised accounts, with a more promising trajectory outside that category [40] Question: Outlook for restructuring business amid credit concerns - Management does not view recent bankruptcies as indicative of broader issues and expects both M&A and restructuring activities to coexist due to varied corporate performance [67][70] Question: Differences in M&A activity between Europe and the U.S. - Management observed a tilt towards Europe in revenue mixes and emphasized the strength of European companies despite macroeconomic challenges [74][76] Question: Impact of U.S. government shutdown on advisory deals - Management indicated that deals requiring government approvals may be delayed but expect a quick catch-up once the government reopens [78][79]