Financial Data and Key Metrics Changes - The company reported record long-term inflows of $118.6 billion, up 40% from the prior quarter and 22% from the prior year quarter [7] - Long-term net inflows were $28 billion, with assets under management (AUM) ending the quarter at $1.68 trillion, reflecting an increase due to long-term net inflows and the acquisition of Apera [8] - Adjusted Operating Income was $437.3 million, influenced by lower performance fees and higher average AUM [19] Business Line Data and Key Metrics Changes - Public markets generated positive net flows totaling $30.4 billion, with equity net inflows of $19.8 billion for the quarter [9] - Fixed Income delivered its eighth consecutive quarter of positive net flows, with net inflows of $2.6 billion driven by Franklin Templeton Fixed Income [9] - Private markets saw $274 billion in alternative AUM, with $10.8 billion raised during the quarter, including $9.5 billion in private market assets [10] Market Data and Key Metrics Changes - The institutional pipeline of long, but unfunded mandates remains strong at $20.4 billion, indicating sustained demand for investment capabilities [9] - The ETF platform reached a new high with $58 billion in AUM, generating $7.5 billion in net flows, marking its 17th consecutive positive quarter [15] - Multi-asset AUM is nearly $200 billion, with net inflows of $4 billion during the quarter, reflecting clients' increasing preference for diversified solutions [14] Company Strategy and Development Direction - The company is focused on delivering integrated solutions and long-term strategic relationships, aligning with client needs for resilience in portfolios [6] - Recent M&A activity emphasizes the importance of alternative assets, with strategic acquisitions aimed at enhancing capabilities and geographic reach [12] - The company aims to double the size of fiduciary services in its five-year plan, focusing on both organic and inorganic growth [36] Management's Comments on Operating Environment and Future Outlook - Management highlighted the ongoing transition for investors amid significant market turbulence and economic uncertainty, emphasizing the need for durable returns and risk management [4] - The company is well-positioned to capture long-term trends reshaping the industry across public and private markets, with a focus on innovation and efficiency [20] - Management expressed confidence in achieving a margin of over 30% by fiscal 2027, supported by disciplined expense management and strategic investments [46][66] Other Important Information - The company is advancing its AI initiatives, including the launch of Intelligence Hub, aimed at modernizing distribution and enhancing client experience [17] - Digital assets are becoming increasingly important, with $1.8 billion in digital asset AUM, including tokenized funds and crypto ETFs [17] - The company has been recognized as one of the best places to work in money management, reflecting its commitment to employee engagement and client service [20] Q&A Session Questions and Answers Question: Cost Flexibility and Savings - Management indicated that expenses are expected to remain in line with 2025 guidance, with ongoing cost savings initiatives contributing to margin expansion in the latter half of the year [23][24] Question: M&A Activity and Contingent Liabilities - Management confirmed that contingent consideration related to recent transactions is minimal, with no significant liabilities expected from closed deals [27][30] Question: Long-term Margin Expectations - Management projected that operating margins could exceed 30% by fiscal 2027, with ongoing integration efforts and strategic initiatives contributing to profitability [46][66] Question: AI's Impact on Consolidation - Management noted that AI could drive consolidation in the asset management industry, as smaller managers may struggle to compete without the scale and data resources required for effective model training [76][80] Question: Blockchain and Tokenization Strategy - Management highlighted the efficiency of blockchain technology, noting significant cost savings compared to traditional systems, and expressed optimism about the future adoption of tokenized funds [86][88]

Core Viewpoint - Soulpower Acquisition Corporation and SWB Holdings have announced the confidential submission of a draft registration statement for a proposed business combination, aiming to launch SOUL WORLD BANK™ [1][2][3] Company Overview - Soulpower Acquisition Corporation is a financials-focused special purpose acquisition company that raised $250 million in its initial public offering in April 2025 [5] - SWB LLC is a newly formed Cayman Islands company established to launch SOUL WORLD BANK™ and acquire various real-world assets [6] - SWB Holdings will be the publicly traded holding company of SOUL WORLD BANK™ and its affiliates upon the closing of the business combination [7] Business Combination Details - The draft registration statement relates to the proposed business combination between Pubco, Soulpower, and SWB LLC, which was previously announced on November 24, 2025 [2] - Pubco intends to list its non-voting Class A ordinary shares on the New York Stock Exchange under the ticker symbol "SOUL" upon closing [2][4] - The completion of the proposed transaction is subject to customary closing conditions, including shareholder approval and the effectiveness of the registration statement [3] Future Plans and Vision - The CEO of Soulpower expressed confidence in SOUL's potential to integrate traditional markets with new technologies such as AI and stablecoins, aiming to create a highly regarded banking institution [3] - SWB Holdings plans to launch with a substantial asset portfolio designed for stable book value and opportunities for asset tokenization [7]

Tom Lee explains why Crypto can do really well in 2026. ''It's really about tokenization and that tokenization wave that's going to cause people to own and build and get excited about new products'' https://t.co/N5538aBdcj ...

.@FWDind has tokenized its stock on Solana with @SuperstateInc.For the first time ever, investors can borrow stablecoins on @kamino against a tokenized version of a public equity without selling their underlying shares. 🔥Superstate (@SuperstateInc):1/ Forward Industries (NASDAQ: $FWDI) has officially tokenized its SEC-registered shares on @solana through 🔔Superstate Opening Bell.@FWDind is the first to enable ex-US investors to use their shares as collateral to borrow stablecoins through lending platform @k ...

Market Trends & Industry Dynamics - Big banks are shifting from anti-crypto to pro-crypto, recognizing the value of blockchain technology [1] - Within 12 months, crypto is expected to be integrated into all parts of financial services [1] - US banks are heading for a multi-year on-chain future as regulatory approvals accelerate Bitcoin and crypto integration [12][15] - Every single bank will eventually be on-chain, with the US banking system moving to blockchain [12] Company Initiatives & Developments - JP Morgan moved 16 trillion in one day using blockchain technology and is working on stablecoins and exploring tokenization [1] - JP Morgan launched its first tokenized money market fund on Ethereum, breaking $4 trillion [1] - Bank of America recommended clients allocate up to 4% of their portfolio to Bitcoin and crypto [12] - Bank of America is considering launching a USD-pegged crypto stablecoin if lawmakers pass legislation [19] Regulatory Landscape & Future Outlook - Senate Banking Committee confirms Bitcoin and crypto market structure bill will not advance in 2025; markup is expected in early 2026 [9] - The financial industry is ready to adopt crypto payments if regulators give the green light [11] - 2026 is shaping up to be a significant year for crypto due to potential regulatory clarity [22]

🎥 WATCH: “All of the innovative things that are gonna take place with tokenization.” — @stbl_official Co-Founder @Reeve_Collins at LONGITUDE Abu Dhabi https://t.co/h4d1ZbPLOH ...

Tom Lee: 900 million retirement accounts could drive a 200x increase in Bitcoin adoptionOn December 4, at Binance Blockchain Week 2025, Bitmine chairman Tom Lee pushed back against bearish views on crypto. He noted that only 4.4 million Bitcoin wallets currently hold more than $10,000, while nearly 900 million people worldwide have more than $10,000 in their retirement accounts — implying Bitcoin adoption could increase by 200x and that its growth potential is huge. At the same time, Wall Street wants to to ...

Read @a16zcrypto Big Ideas full post 👇https://t.co/rR5z7C8uS7a16z crypto (@a16zcrypto):It's time for our annual big ideas.Here are 17 things that various a16z crypto partners (plus a few guest contributors) are excited about for what’s ahead in 2026.On topics ranging from agents and AI; stablecoins, tokenization, and finance; privacy and security; to prediction https://t.co/9PRce5Bk1Y ...

Tokenization & Market Cap - Robinhood 在 Arbitrum 上进行股票代币化 [1] - 代币化市场总市值最近超过 1300 万美元 [1] Technology & Security - Ethereum 提供默认安全性 [1] - Arbitrum 允许所需的工程灵活性 [1]

Regulatory Approval - DTCC's subsidiary DTC received a No-Action Letter from the U.S SEC [1] - The authorization is for a three-year controlled-production tokenization service for DTC-custodied assets [1] Tokenization Initiative - The rollout of the tokenization service is expected in the second half of 2026 [1] - The service permits tokenizing traditional assets on approved L1 and L2 networks [1] - Digital versions of assets will carry the same rights and protections as their conventional forms [1]