Core Viewpoint - State Bank of India (SBI) anticipates its wealth management assets under management (AUM) to increase nearly fivefold to ₹15 lakh crore by 2030 from ₹2.83 lakh crore as of March 2025, driven by the growing financialisation of savings [1]. Group 1: Current AUM and Components - SBI's wealth management service currently has an AUM of approximately ₹4 lakh crore, which consists of a deposit component (fixed deposits and CASA) and an investment component [2]. - The investment component of SBI's overall AUM is currently low and primarily deposit-driven [2]. Group 2: Future Projections and Breakdown - Of the projected ₹15 lakh crore AUM, around ₹4 lakh crore is expected to come from the investment side [3]. - SBI provides wealth management services to affluent customers through various products, including mutual funds, insurance, portfolio management services, bonds, and Alternative Investment Funds, tailored to individual risk profiles [3]. Group 3: Support Structure - The wealth management business is supported by 1,068 Relationship Managers and a tiered Relationship Manager structure, as per the bank's latest annual report [4].

Core Insights - Ameriprise Financial, Inc. (AMP) is expected to report fourth-quarter and 2025 results on January 29, with anticipated year-over-year increases in revenues and earnings [1][8] Financial Performance Expectations - The Zacks Consensus Estimate for AMP's management and financial advice fees is $2.89 billion, reflecting a 6.6% increase from the prior-year quarter [3] - The estimate for distribution fees stands at $557 million, indicating a 3.9% year-over-year growth [3] - Other revenues are expected to reach $135 million, suggesting a 6.3% increase [3] - Net investment income is projected at $841 million, which represents a 5.7% decline year-over-year [4] - Premiums, policy, and contract charges are estimated at $412 million, indicating an 8.7% rise [4] - Total assets under management (AUM) and assets under administration (AUA) are expected to be $1.63 trillion, reflecting a 7.1% increase from the previous year [4][8] Cost Management and Earnings Outlook - While cost management initiatives have controlled general and administrative expenses, overall costs are expected to be elevated due to technology upgrades and hiring [5] - The consensus estimate for quarterly earnings is $10.29 per share, indicating a 9.9% increase from the prior-year quarter [7][8] - The full-year earnings estimate is $38.72, suggesting a 12.7% rise from the previous year [7] Revenue Projections - The total quarterly sales estimate is $4.71 billion, which indicates a 5.5% year-over-year increase [9] - The sales estimate for 2025 is projected at $18.06 billion, reflecting a 5.7% increase from the previous year [9] Earnings Surprise History - Ameriprise has a strong earnings surprise history, having surpassed the Zacks Consensus Estimate in each of the last four quarters, with an average beat of 3.4% [2] - The company has a positive Earnings ESP of +1.87% and a Zacks Rank of 3 (Hold), indicating a high likelihood of beating the consensus estimate this time [6]

Core Insights - BlackRock's fourth-quarter 2025 adjusted earnings per share (EPS) of $13.16 exceeded the Zacks Consensus Estimate of $12.39, marking a 10.3% increase year-over-year [1][8] - The company's assets under management (AUM) reached a record high of $14.04 trillion, driven by net inflows of $268 billion during the quarter [5][8] - Despite revenue growth, total expenses rose significantly, impacting net income [4][9] Financial Performance - BlackRock's net income on a GAAP basis for Q4 2025 was $1.13 billion, a decline of 32.5% from the prior-year quarter [2] - Quarterly revenues were reported at $7.01 billion, surpassing the Zacks Consensus Estimate of $6.75 billion, reflecting a year-over-year increase of 23.4% [3][8] - For the full year 2025, adjusted earnings were $48.09 per share, exceeding the Zacks Consensus Estimate of $47.35, with a year-over-year rise of 10.3% [2] Expense Analysis - Total quarterly expenses amounted to $5.35 billion, up 48.4% year-over-year, attributed to increases across all cost components [4] - Non-operating expenses were reported at $54 million, contrasting with an income of $28 million in the prior-year quarter [4] AUM and Inflows - As of December 31, 2025, AUM totaled $14.04 trillion, reflecting a year-over-year rise of 21.6% [5] - The average AUM for the year was $13.73 trillion, which rose 18.8% year-over-year [5] Capital Deployment - BlackRock repurchased shares worth $1.6 billion in 2025 and announced a quarterly cash dividend of $5.73 per share, a 10% increase from the previous payout [6] - The board approved an additional 7 million share repurchase authorization [6] Strategic Outlook - The company is focusing on diversifying its offerings and improving its revenue mix, with recent acquisitions expected to enhance its position as a global asset manager [9] - Elevated expenses remain a significant challenge for the company [9]

Core Viewpoint - BlackRock Inc. is poised for strong financial performance with record assets under management and positive earnings estimates ahead of its quarterly earnings release on January 15, 2026 [1][2][4]. Financial Performance - BlackRock's assets under management (AUM) reached a record $13.46 trillion in Q3 2025, driven by net inflows, spot crypto ETFs, and strategic acquisitions [2][6]. - Analysts predict a year-over-year revenue increase of 18.8% for Q4 2025, reflecting the company's strong performance and strategic initiatives [2]. - The consensus EPS estimate for the upcoming quarter is $12.41, with projected revenue of $6.75 billion [1][6]. Analyst Sentiment - The consensus EPS estimate has been revised upward by 1.6% over the past 30 days, indicating increased optimism about BlackRock's financial performance [4][6]. - BlackRock has a strong track record of exceeding earnings expectations, having surpassed the Zacks Consensus Estimate in the last four quarters with an average surprise of 8% [3]. Financial Metrics - BlackRock's P/E ratio is 27.68, indicating the price investors are willing to pay for each dollar of earnings [5]. - The price-to-sales ratio stands at 7.38, reflecting its market value relative to revenue [5]. - The company maintains a debt-to-equity ratio of 0.27, indicating a balanced approach to leveraging debt, and a current ratio of 14.41 highlights its ability to cover short-term liabilities [5].

Core Viewpoint - BlackRock is expected to report improved fourth-quarter and 2025 results on January 15, with year-over-year growth in revenues and earnings anticipated [1][9]. Group 1: Earnings and AUM Performance - BlackRock's third-quarter 2025 earnings exceeded the Zacks Consensus Estimate, benefiting from increased revenues and a record high in assets under management (AUM) of $13.46 trillion, driven by net inflows [1][2]. - The Zacks Consensus Estimate for total fourth-quarter AUM is projected at $13.99 trillion, reflecting a year-over-year increase of 21.1%, while the company's own estimate is $14.06 trillion [4]. - The consensus estimate for fourth-quarter earnings is $12.41 per share, indicating a 4% increase from the previous year, while the estimate for 2025 earnings is $47.37, suggesting an 8.6% year-over-year growth [12]. Group 2: Revenue Components - BlackRock is expected to see growth in investment advisory, administration fees, and securities-lending revenues, with the consensus estimate for total revenues at $5.30 billion, representing a 19.9% year-over-year rise [5]. - The consensus estimate for investment advisory performance fees is $478 million, indicating a 6% year-over-year increase, while distribution fees are estimated at $372 million, reflecting a 15.5% rise [6]. - Technology services revenues are projected at $529 million, implying a 23.6% year-over-year increase, and advisory and other revenues are estimated at $65 million, indicating a 10.2% rise [7]. Group 3: Expenses and Restructuring - BlackRock's total expenses are expected to rise to $4.40 billion in the fourth quarter, suggesting a year-over-year increase of 22.1, driven by restructuring initiatives and inorganic expansion efforts [8][10]. - The company anticipates a low-teen percentage increase in core general and administrative expenses for 2025, primarily due to the onboarding of Global Infrastructure Partners, Preqin, and HPS [10]. Group 4: Market Position and Future Outlook - BlackRock maintains a strong position in the ETF market, with continued investments in U.S. iShare core ETFs, contributing to consistent AUM growth [3]. - The approval and listing of spot Bitcoin and ether ETFs, along with acquisitions, are expected to further enhance AUM growth [4].

Core Points - Ress Life Investments A/S published its Net Asset Value (NAV) per share as of 15 October 2025, which is USD 2597.07 [1] - The performance for the first half of October is reported at 0.16% in USD, while the year-to-date net performance stands at 0.07% in USD [1] - The total Assets Under Management (AUM) are reported to be USD 242.4 million [2] NAV and Performance - The NAV per share in EUR is available on the Nasdaq Copenhagen website under the AIF Companies and Funds section [2] - The daily NAV in EUR is calculated based on the most recently published NAV in USD divided by the European Central Bank's EUR/USD reference rate [2] Contact Information - For inquiries related to the announcement, the contact person is Gustaf Hagerud, reachable via email at gustaf.hagerud@resscapital.com or by phone at +46 73 660 72 42 [3]

Core Insights - State Street's (STT) Q3 2025 earnings per share (EPS) reached $2.78, exceeding the Zacks Consensus Estimate of $2.62, marking a 23% increase from the previous year [1][10] - The company's net income available to common shareholders was $802 million, reflecting a 17.6% year-over-year increase, surpassing projections of $698.1 million [2] - Total revenues amounted to $3.55 billion, an 8.8% year-over-year increase, exceeding the Zacks Consensus Estimate of $3.47 billion [3][10] Revenue and Expenses - Net interest income (NII) was reported at $715 million, down 1.1% year over year, attributed to lower average short-end rates and deposit mix shifts, with estimates at $738.2 million [3] - The net interest margin (NIM) contracted by 11 basis points year over year to 0.96%, below the expected 0.99% [4] - Total fee revenues increased by 8.1% year over year to $2.83 billion, driven by growth in nearly all components except lending-related fees, with estimates at $2.70 billion [4] - Non-interest expenses rose to $2.43 billion, a 5.5% increase from the prior year, aligning with estimates [5] Asset Management - As of September 30, 2025, total assets under custody and administration (AUC/A) reached a record $51.66 trillion, up 10.5% year over year, driven by higher equity market levels and client flows, slightly below the projected $52.04 trillion [7] - Assets under management (AUM) increased to $5.45 trillion, a 15.1% year-over-year rise, supported by higher market levels and net inflows, also below the estimate of $5.55 trillion [7] Shareholder Actions - In the reported quarter, State Street repurchased shares worth $400 million [8] Financial Ratios - The Common Equity Tier 1 ratio stood at 11.3% as of September 30, 2025, down from 11.6% in the same period of 2024 [6] - The return on average common equity improved to 13.4% compared to 12% in the year-ago quarter [6]

Assets Under Management (AUM) - Ending AUM increased to $90.9 billion as of September 30, 2025, compared to $88.9 billion at the end of Q2 2025[2] - Average AUM for Q3 2025 was $89.7 billion, up from $87.2 billion in Q2 2025[2] - Market appreciation contributed $2.4 billion to AUM in Q3 2025, slightly higher than the $2.3 billion in Q2 2025[2] Net Flows - The company experienced net inflows of $233 million in Q3 2025, a turnaround from net outflows of $131 million in Q2 2025[2] - Open-end funds saw net inflows, while advisory and subadvisory segments experienced net outflows[2] Financial Performance (As Adjusted) - Net income reached $41.7 million in Q3 2025, an increase from $37.3 million in Q2 2025[2] - Diluted EPS rose to $0.81 in Q3 2025, compared to $0.73 in Q2 2025[2] - Operating margin improved to 36.1% in Q3 2025, up from 33.6% in Q2 2025[2] Revenue (As Adjusted) - Total revenue was $140.9 million in Q3 2025, compared to $135.3 million in Q2 2025[4] - Open-end fund fees generated $73.5 million in revenue in Q3 2025[8] - Institutional fees contributed $33.3 million to revenue in Q3 2025[8] Expenses (As Adjusted) - Total expenses amounted to $90.1 million in Q3 2025, compared to $89.9 million in Q2 2025[4] - Employee compensation and benefits accounted for $56.1 million of expenses in Q3 2025[11]

Core Insights - BlackRock reported a strong third-quarter performance with an EPS of $11.55, exceeding estimates of $11.25, and revenue of approximately $6.51 billion, surpassing the estimated $6.29 billion [1][6] Financial Performance - The company's revenue and assets under management (AUM) saw significant year-over-year growth, with AUM increasing to $13.46 trillion from $11.48 trillion in Q3 2024 [2] - Adjusted earnings were $1.91 billion, or $11.55 per share, compared to $1.72 billion, or $11.46 per share, from the previous year [3] Growth Drivers - The growth in AUM was driven by strong organic base fee growth in systematic franchise, private markets, digital assets, outsourcing, cash, and iShares ETFs, which experienced record demand [2][6] Market Position - BlackRock's financial metrics indicate a strong market position, with a P/E ratio of approximately 25.64, a price-to-sales ratio of about 8.10, an enterprise value to sales ratio of around 8.41, and an enterprise value to operating cash flow ratio of approximately 45.46 [4] - The company's debt-to-equity ratio is roughly 0.34, indicating a relatively low level of debt compared to equity, suggesting a stable financial structure [5] - BlackRock's current ratio of approximately 4.40 indicates strong liquidity, positioning the company well to meet short-term obligations [5]

Core Insights - BlackRock (BLK) is expected to report improved third-quarter 2025 results on October 14, with revenues and earnings anticipated to rise year over year [1][8] - The company has a strong earnings surprise history, surpassing the Zacks Consensus Estimate in the last four quarters with an average surprise of 9.65% [2] AUM Growth - BlackRock remains a leading player in the ETF market, with consistent AUM growth supported by diversified offerings and strong revenue mix [3] - The approval of spot Bitcoin and ether ETFs, along with acquisitions of ElmTree and HPS Investment Partners, are expected to further boost AUM [4] - The Zacks Consensus Estimate for total AUM in Q3 is $13.08 trillion, reflecting a 13.9% year-over-year increase, while the internal estimate is $12.59 trillion [4] Revenue Expectations - Revenue growth is anticipated in investment advisory, administration fees, and securities-lending revenues, with a consensus estimate of $4.92 billion, indicating a 22.1% year-over-year rise [5] - The consensus estimate for investment advisory performance fees is $359 million, showing a decline of 7.5%, while distribution fees are expected to rise by 7.4% to $347 million [6] - Technology services revenues are projected to reach $497 million, reflecting a 23.3% year-over-year increase [6] - Advisory and other revenues are estimated at $58 million, indicating a 9.4% rise [7] Expense Overview - Total expenses are expected to increase to $3.66 billion, representing a 14.8% year-over-year rise due to restructuring initiatives and inorganic expansion efforts [9] Recent Developments - The acquisition of HPS Investment Partners on July 1 is expected to enhance BlackRock's private credit capabilities and grow fee-based revenues [10] - The acquisition of ElmTree Funds on September 2 aligns with BlackRock's long-term goal to raise $400 billion for private markets by 2030 [11] Earnings Predictions - The Earnings ESP for BlackRock is -0.51%, indicating a low chance of beating the Zacks Consensus Estimate for earnings this quarter [12] - The Zacks Consensus Estimate for Q3 earnings is $11.53 per share, revised 1.8% lower over the past week, with a projected sales estimate of $6.27 billion, reflecting a 20.7% year-over-year rise [13]