蓝鲸新闻1月21日讯，近日，深圳证监局发布行政监管措施决定书，剑指深圳高申资产管理有限公司及刘文广。 决定书显示，深圳高申资产管理有限公司在从事私募基金业务活动中，存在以下情形：一是非公司登记从业人员参与私募基金运营，说明公司 在管理、运用私募基金财产过程中未尽谨慎勤勉义务；二是不公平对待其管理的高申德伦私募证券投资基金、高申鹿鸣起航私募证券投资基金 的基金财产；三是未定期更新管理人及其从业人员的有关信息。 决定书之日起6个月内向有管辖权的人民法院提起诉讼。复议与诉讼期 间，上述行政监管措施不停止执行。 深圳证监局 2025年12月15日 刘文广担任高申德伦私募证券投资基金、高申鹿鸣起航私募证券投资基金的投资经理，负责相关投资交易，具体实施了不公平对待所管理的不 同基金财产的行为。 上述行为违反了《私募投资基金监督管理暂行办法》的相关规定。深圳证监局决定对深圳高申资产管理有限公司、刘文广采取出具警示函的行 政监管措施。 ...

Market Reaction - Major U.S. indexes experienced significant declines, marking their worst day since October, with the S&P 500 and Nasdaq Composite entering negative territory for 2026 [3] - Volatility increased, as indicated by the VIX index spiking to a high of 20.99, while bond yields rose, the U.S. Dollar Index fell, and gold prices reached new records [3] Investor Sentiment - Concerns raised by Ray Dalio suggest that escalating tensions could lead foreign governments and investors to reconsider their investments in U.S. assets [4] - The Danish pension fund AkademikerPension announced plans to sell approximately $100 million in U.S. Treasurys, citing worries over U.S. government finances [4][5] International Response - Greenland's Prime Minister expressed concerns regarding U.S. military intentions, indicating a lack of confidence in U.S. foreign policy [2] - International leaders, including French President Emmanuel Macron, criticized U.S. actions, labeling them as "bullying" and calling for the abolition of U.S. tariffs on Europe [6] U.S. Government Stance - U.S. Treasury Secretary Scott Bessent asserted a strong stance on U.S. leadership, emphasizing that "the U.S. is back" despite market reactions [5] - President Trump remained optimistic about negotiations regarding Greenland, stating that he believes outcomes will be favorable [7]

Core Insights - ICG plc reported a total AUM of $127 billion as of 31 December 2025, with fee-earning AUM at $85 billion, reflecting a 1% increase quarter-on-quarter and an 11% increase year-on-year [6][11] - The company raised $4.4 billion in fundraising during the quarter, with significant contributions from Europe IX ($1.6 billion), Metropolitan II ($0.6 billion), and LP Secondaries II ($0.3 billion) [6][5] - The total available liquidity for ICG is £1.4 billion, with net financial debt reduced to £239 million [6] Fundraising and Deployment - Fundraising activities for Q3 FY26 included $2.5 billion in Structured Capital and Secondaries, $0.6 billion in Real Assets, and $1.3 billion in Debt [5][7] - Deployment of funds in Q3 FY26 amounted to $2.8 billion for Structured Capital and Secondaries, $0.6 billion for Real Assets, and $1.6 billion for Debt [5][7] - Realisations during the same period were $0.1 billion for Structured Capital and Secondaries, $0.2 billion for Real Assets, and $1.7 billion for Debt [5][7] Financial Performance - The company experienced a net addition of $1.328 billion in AUM, with structured capital and secondaries contributing $1.538 billion, while real assets and debt saw net reductions [3] - Year-on-year changes in AUM showed a 22% increase in Structured Capital, a 17% increase in Secondaries, a 3% decrease in Real Assets, and an 11% overall increase [3] - The total balance sheet return was positive at both the group level for the quarter and year-to-date [6] Market Conditions - The company noted variability in transaction activity across different asset classes, indicating a modest recovery in market conditions [6] - The foreign exchange rates for GBP to EUR and GBP to USD showed slight fluctuations, which may impact financial results [8]

尽管多家券商机构的统计口径存在差异，但测算结果普遍显示，2026年定期存款到期规模高于2025年。 随着存款利率的持续下行，集中到期的定期存款将搬家去哪里，成为市场近期关注的焦点。 2026年居民定期存款到期规模高于2025年 居民存款的去向除了进入股市外，还有银行理财、保险、基金等多种渠道。 以中金公司最新测算为例，居民定期存款2026年到期规模约75万亿元，其中1年期及以上存款到期约67 万亿元；相比2025年，预计2026年居民全部和1年期以上定期存款到期分别增长12%和17%，同比增加8 万亿元和10万亿元。 存款搬家等于存款入市吗 所谓存款搬家，是居民根据资产回报率的变化，把银行里的储蓄存款转换成其他资产的现象，本质上是 居民资产重新配置的一种表现。而且根据不同市场形势变化，这种资金流动也是双向动态变化的。 南开大学金融学教授田利辉分析，过去居民财富配置基本集中在房地产和银行存款，如今二者的吸引力 都在减弱，资金需要寻找新的出口。而且，随着我国资管产品不断丰富，企业和居民配置理财、基金等 金融资产会更加多元化。 "存款搬家现象对银行理财的发展形成了一定影响，同时也是驱动银行理财行业规模增长的动力之 ...

Core Viewpoint - The geopolitical tensions surrounding Greenland and Japan's domestic fiscal concerns have disrupted the previously calm financial markets, leading to a significant sell-off in U.S. assets [2][3]. Group 1: Market Reactions - U.S. financial markets experienced a "triple whammy" with major indices like the S&P 500 dropping over 2%, erasing all gains for the year and marking the largest single-day decline in over three months [3][6]. - The VIX index, which measures market volatility, surged to its highest level since November of the previous year, indicating heightened investor fear [3]. - Gold prices reached a historic high of over $4,700 per ounce, while U.S. Treasury yields rose significantly, leading to a decline in the dollar's value [3]. Group 2: Causes of Market Turmoil - The initial trigger for the global sell-off was a spike in Japan's 30-year government bond yields, which rose over 25 basis points due to concerns over Prime Minister Fumio Kishida's tax cuts and spending plans [3][8]. - This spike threatened the "carry trade" strategy of borrowing low-interest yen to invest in global assets, causing a ripple effect that pushed bond yields higher in other regions [8]. - Investor patience regarding the Trump administration's actions, including its aggressive stance towards Venezuela and NATO allies, is waning, leading to increased market anxiety [3]. Group 3: Investor Sentiment and Strategies - Analysts suggest that creating market volatility may be a strategy for European governments to exert pressure, as President Trump is particularly sensitive to market movements [4]. - The previous month saw historically low volatility in U.S. bonds, stocks, and the dollar, attributed to traders' immunity to Trump's rhetoric, a strategy known as "TACO" trading [4]. - The recent market downturn signifies a reversal of this sentiment, with long-term U.S. Treasury bonds experiencing the most significant impact, as yields approached their highest levels for 2023 [4]. Group 4: Geopolitical Concerns and Future Outlook - The aggressive posture of the Trump administration towards European allies has raised investor concerns, prompting some, like Denmark's AkademikerPension, to divest from U.S. Treasuries due to perceived credit risks [10][11]. - Despite a general belief that diplomatic solutions will be reached regarding Greenland, the chaotic negotiation style of the White House is undermining market confidence [11]. - Analysts predict that while a resolution may eventually be found, the interim period will likely see increased volatility, benefiting sectors such as defense, finance, and gold [11].

Core Insights - The term premium is a significant focus for the administration, with affordability being a primary concern [1] - Mortgage rates and Treasury supply-demand dynamics are identified as central issues impacting the market [1]

Core Viewpoint - The T. Rowe Price U.S. Equity Research ETF (TSPA) is highlighted as a strong investment option due to its active management and solid track record, particularly in the context of the growing popularity of active ETFs [2][3][10]. Fund Performance and Strategy - TSPA has demonstrated a strong performance with close to $800 million in net new inflows in 2025, indicating its appeal among investors [3]. - The fund is designed as a "best ideas" portfolio from T. Rowe Price's experienced team of stock analysts, focusing on stocks they favor while underweighting those they do not [4][5]. - TSPA holds approximately 300 stocks, primarily from the S&P 500, allowing for a concentrated approach rather than a full replication of the index [6]. Holdings and Market Position - The top holdings of TSPA include major companies such as Nvidia, Apple, Microsoft, Amazon, Alphabet, Meta, and Tesla, which are part of the "Mag Seven" stocks [7][8]. - The fund serves as a core replacement or complement to traditional index funds, providing active management benefits while maintaining significant overlap with large-cap stocks [8][10]. Management and Fees - The ETF is managed by a team of analysts rather than a single portfolio manager, reducing individual manager risk and ensuring continuity in stock selection [19][20]. - The expense ratio for TSPA is 0.34, which is higher than typical S&P 500 index funds but competitive for actively managed ETFs [13][14]. Long-term Investment Potential - TSPA is positioned as a long-term core holding, appealing to investors seeking active management without excessive risk, particularly in large-cap equities [18][20].

Core Insights - Delaware Life Insurance Company has launched the first fixed indexed annuity linked to a Bitcoin-inclusive index, specifically the BlackRock U.S. Equity Bitcoin Balanced Risk 12% Index [1] - The new annuity product aims to provide principal protection while allowing for potential upside growth linked to Bitcoin and U.S. stocks [1][2] Product Details - The fixed indexed annuity (FIA) will offer policyholders indirect exposure to Bitcoin through an ETF within the index, ensuring that returns are capped and protecting against market declines [2][3] - The BlackRock U.S. Equity Bitcoin Balanced Risk 12% Index targets 12% volatility and incorporates cash adjustments to mitigate Bitcoin's price fluctuations, utilizing the iShares Bitcoin Trust (IBIT) which has $74.5 billion in assets under management [4] Market Context - The introduction of Bitcoin ETFs in the U.S. has led to various financial products incorporating them, with significant sales of structured notes linked to Bitcoin ETFs by major financial institutions [5] - Historically, life insurance companies have been cautious in adopting Bitcoin and related products due to market volatility, focusing instead on blockchain for operational efficiencies [6][7]

Core Insights - The bond market is reacting negatively to renewed trade tensions and policy uncertainty, leading to higher borrowing costs [2][10] - The yield on the 10-year U.S. Treasury note has risen to approximately 4.29%, its highest level since August, driven by concerns over tariffs and inflation [3][10] - Investors are worried that escalating trade tensions, particularly a potential 200% tariff on French wine and champagne, could lead to broader economic instability [3][10] Bond Market Dynamics - Rising bond yields directly increase mortgage, loan, and business financing costs, potentially slowing economic activity and straining household budgets [4][10] - A "broader tone of bearishness" in global bond markets is evident, as investors sell government bonds due to perceived policy-related risks, which in turn drives up interest rates [5][10] - Recent U.S. economic data has been solid, reducing the likelihood of the Federal Reserve cutting interest rates, which may keep yields elevated [9] Global Influences - Concerns over Japan's fiscal path are affecting U.S. bond markets, highlighting the interconnectedness of global bond markets [8] - European investors hold significant amounts of U.S. Treasuries, totaling around $8 trillion, and may consider reducing their holdings in response to U.S. policy pressures [15][16] Investor Sentiment - The potential for a "sell America" trend is emerging, as European officials may retaliate against U.S. tariffs by selling U.S. government debt [12][14] - AkademikerPension, a Danish pension fund, has begun selling U.S. Treasuries, citing rising U.S. debt levels and political pressures as concerns [15] Policy Implications - Treasury Secretary Scott Bessent has urged against escalating tensions, emphasizing the need for calm and patience in the face of market reactions to U.S. policies [17]

MILWAUKEE, Jan. 20, 2026 (GLOBE NEWSWIRE) -- Artisan Partners Asset Management Inc. (NYSE: APAM) will report its fourth quarter 2025 financial results and information relating to its quarterly dividend on February 3, 2026 at approximately 4:30 p.m. (Eastern Time). Artisan Partners Asset Management’s earnings release and supplemental materials will be available on the investor relations section of artisanpartners.com at that time. Chief Executive Officer and President Jason Gottlieb and Chief Financial Offic ...