Core Viewpoint - European financial institutions are increasingly reducing their investments in US dollar assets and shifting focus towards European and emerging market economies due to growing uncertainties in US monetary and fiscal policies [1][2][3] Group 1: Investment Trends - A survey by Barclays Bank revealed that investor willingness to invest in US-based hedge funds has significantly decreased, while interest in hedge funds based in Asia and Europe has notably increased [1] - The Dutch pension fund ABP reported a substantial decline in the market value of its US Treasury holdings, from nearly €29 billion to around €19 billion, indicating a potential sale of US debt rather than mere price fluctuations [2] - Major European pension funds, including Sweden's Alecta and Denmark's AkademikerPension, have announced plans to sell or have already sold their US Treasury holdings [2] Group 2: Risk Assessment - Analysts suggest that the trend of European capital reallocating away from US assets reflects a rational assessment of multiple risks, including geopolitical tensions and economic policies from the US that have increased market uncertainty [2][3] - The ongoing discussions in Europe about the potential "weaponization" of US assets highlight the growing concerns regarding the stability of US investments [2] Group 3: Strategic Adjustments - European institutions are not completely divesting from dollar assets but are strategically diversifying their asset allocations to mitigate risks associated with US policies [3] - The shift in investment behavior towards reducing exposure to dollar assets is seen as a psychological effect that could further pressure the prices of these assets [3] - There is a clear trend of structural adjustment within European capital, with investors actively hedging against political risks related to US policies and reassessing their long-term relationships with the US market [3]

Group 1 - Nuveen will acquire Schroders for approximately $13.6 billion, creating a global asset management giant with $2.5 trillion in assets under management [1][3] - The acquisition price is set at a maximum of 612 pence per share, valuing Schroders at around £9.9 billion, with Schroders' stock rising 29% to 590 pence following the announcement [1][3] - The combined entity will allocate 17% of its assets to private markets, a rapidly growing sector influenced by AI trends [3] Group 2 - Nuveen aims to leverage its distribution strengths in the U.S. wealth management channel and TIAA's retirement business alongside Schroders' strengths in the UK, Europe, and Asia [4] - Analysts from Jefferies believe the transaction is likely to complete with low chances of competing bids, viewing the acquisition price as attractive for Schroders' shareholders [4]

Core Viewpoint - The historic British company Schroders has agreed to be acquired by Nuveen, a subsidiary of the American Teachers Insurance and Annuity Association (TIAA), marking a significant change in ownership for the 222-year-old firm [1][5]. Group 1: Acquisition Details - Nuveen will acquire all issued and to-be-issued shares of Schroders for cash, with shareholders entitled to receive up to 612 pence per share, which includes a cash consideration of 590 pence and a maximum dividend of 22 pence [2][6]. - The cash offer represents a premium of approximately 29% over the closing price of Schroders shares on February 11, 2026, the last trading day before the announcement, with the total transaction value estimated at around £9.9 billion, equivalent to approximately ¥932 billion [2][6]. Group 2: Post-Acquisition Structure - Upon completion of the acquisition, the merged entity will manage approximately $2.5 trillion in assets, positioning it as a leading player in active asset management globally [3][7]. - The Schroders brand will be retained, with London serving as the non-U.S. headquarters and largest office of the merged group. Richard Oldfield will continue as CEO of Schroders, and Johanna Kyrklund will remain as CIO [3][7]. Group 3: Regulatory Approval - The completion of the transaction is subject to regulatory approval and is expected to take effect in the fourth quarter of 2026, provided all conditions are met [4][7].

新华社贝尔格莱德2月12日电 新闻分析｜欧洲资本欲与美元资产保持"安全距离" 新华社记者金丹依 不少欧洲金融机构和咨询公司近日表示，随着美国货币和财政政策不确定性日益显现，越来越多的欧洲 资本正减持美元资产，把投资重心转向欧洲及新兴市场经济体。欧洲资本短期内无法摆脱对美国金融市 场的依赖，但欧洲投资者调整资产配置、寻求多元化策略、热议"卖出美国"，正探索与美元资产保持长 期"安全距离"。 英国巴克莱银行此前对管理着总额达7.8万亿美元的342名投资者展开问卷调查。结果显示，投资者对总 部设在美国的对冲基金的投资意愿显著下降，对总部设在亚洲和欧洲的对冲基金的投资意愿大幅上升。 该机构指出，这是2023年以来投资者首次对美国对冲基金表现出投资意愿减弱的现象。 法国东方汇理资产管理公司是欧洲最大资管机构。该机构首席执行官瓦莱丽·鲍德松日前表示，该机构 在过去一年多时间里一直推动投资多元化，建议客户分散投资。她表示，如果美国维持现行经济政策， 美元可能持续走弱。 荷兰养老基金ABP公布数据显示，从2024年年末至2025年9月，基金所持美债市值从近290亿欧元大幅降 至近190亿欧元。荷兰公共广播公司分析认为，市值大 ...

本文源自：金融界AI电报 据香港交易所披露，贝莱德（BlackRock）对ASMPT Ltd.的多头持仓比例于2026年2月6日从5.19%降至 4.99%。 ...

Core Viewpoint - The company expresses optimism about the long-term positive trend of the Chinese capital market, driven by increased dividends from listed companies and the value of equity assets in a low-interest-rate environment [4][6]. Group 1: Market Outlook - The A-share market demonstrated resilience with a slow bull market in 2025, supported by rapid developments in AI and humanoid robots, creating new investment opportunities [4][8]. - The expansion of passive investment products signifies the arrival of the index investment era, which enhances market maturity and raises challenges for fund managers in achieving excess returns [4][8]. Group 2: Investment Philosophy - The company emphasizes two investment philosophies: "leap forward with a solid foundation" and "steady progress reveals true strength" [4][6]. - "Leap forward with a solid foundation" suggests that sustained progress relies on a robust core rather than short-term bursts of performance, advocating for a resilient internal system to adapt to market changes [4][8]. - "Steady progress reveals true strength" highlights the importance of long-term investment strategies, focusing on risk-reward balance and sustainable practices to build a systematic investment framework [5][9].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而產生或因倚賴 該等內容而引致之任何損失承擔任何責任。 ALTUS HOLDINGS LIMITED 浩德控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：8149） 截至二零二六年三月三十一日止財政年度第三季度最新營運情況 本公告乃由浩德控股有限公司（「本公司」）及其附屬公司（統稱「本集團」）根據香 港聯合交易所有限公司（「聯交所」）GEM證券上市規則第17.10(2)(a)條及證券及 期貨條例（「證券及期貨條例」）第XIVA部項下的內幕消息條文作出。 本公司董事（「董事」）會（「董事會」）謹此提供下列本集團截至二零二六年三月三 十一日止財政年度第三季度（「二零二六財政年度第三季度」）的最新營運情況。 於二零二六財政年度第三季度，本集團錄得企業融資、資產管理及其他諮詢服務 收入5.5百萬港元，較去年同期減少6.3%。企業融資及其他諮詢服務收入乃於已根 據服務協議條款提供相關服務及╱或完成相關重大行動從而達成協定的賬單里程 碑時確認。因此，各期間的收 ...

美国资产管理公司Nuveen周四宣布，已同意以 99 亿英镑（约合 135 亿美元）的价格收购英国施罗德投 资集团，此次合并后，双方管理的资产总额将接近 2.5 万亿美元。 美国资产管理公司Nuveen周四宣布，已同意以 99 亿英镑（约合 135 亿美元）的价格收购英国施罗德投 资集团，此次合并后，双方管理的资产总额将接近 2.5 万亿美元。 根据协议，施罗德的股东每持有一股将获得 590 便士现金，此外还可获得最高 22 便士的股息。 施罗德集团首席执行官理查德·奥尔德菲尔德在交易完成后将继续领导该集团，而伦敦将成为合并后集 团的非美国总部所在地，两家公司表示。 责任编辑：于健 SF069 根据协议，施罗德的股东每持有一股将获得 590 便士现金，此外还可获得最高 22 便士的股息。 施罗德集团首席执行官理查德·奥尔德菲尔德在交易完成后将继续领导该集团，而伦敦将成为合并后集 团的非美国总部所在地，两家公司表示。 责任编辑：于健 SF069 ...

在此前数周，围绕财政可持续性的担忧曾引发超长期国债剧烈波动。彭博称，随着收益率回落至接近1月初、即高市早苗突袭选举消息首次被报道时的水 平，市场对"尾部风险"的定价出现收敛。 这一轮下行集中体现在长端，30年期与40年期收益率的快速回落，反映出资金重新向期限更长、对财政预期更敏感的品种回流。 政策信号更克制，减税与发债担忧暂缓 彭博称，债市对高市早苗胜选的解读之一是，政治结果可能带来更清晰的政策路径，从而降低财政政策走向极端情形的概率。 在表态层面，高市早苗一方面承认市场对食品消费税减税的担忧，另一方面强调财政省不会通过发行新债来填补支出缺口，转而将审视补贴、特别税制与非 税收入，以寻找她所称"可持续"的资金来源。 日本超长期国债在大选后继续走强，高市早苗对食品消费税削减计划的谨慎表态缓解了投资者对财政政策的担忧，推动收益率进一步回落。 据彭博报道，40年期日本国债收益率下行10个基点，30年期收益率下行9.5个基点，回落至接近1月初水平，延续了选后反弹。 市场反应的关键在于高市早苗的最新表态。她在胜选后的首次记者会上提及市场对食品消费税两年减税计划的关注，并谈及提高国防和战略产业支出的目 标，但并未就下调食 ...

"高市并未就降低食品消费税做出坚定承诺，这使得债券投资者有强烈动机重新建立超长期日本国债的 多头头寸，这类债券历来提供较高收益率，"AXA Investment Managers Ltd． 高级固定收益策略师 Ryutaro Kimura表示："超长期日本国债利率的下行趋势可能会持续一段时间。" 尽管本周日元兑美元汇率已经连续三天走强，但日本外汇事务负责人三村淳周四表示，政府丝毫没有放 松警惕。 高市本周坚称财务省不会通过发行新债券来填补支出缺口，表示政府将重新审视补贴、特别税收措施和 非税收收入，以寻找"可持续"的资金来源。然而，投资者仍担忧市场可能再度崩盘，因为若政府要在不 增加债务的情况下削减消费税，仍需寻找其他融资渠道。 责任编辑：于健 SF069 日本超长期国债延续了大选后的涨势，因首相高市早苗历史性选举胜利缓解了投资者对财政政策的担 忧。 周四，日本40年期国债收益率下跌10个基点，30年期国债收益率下跌9.5个基点。在经历了数周因财政 可持续性担忧而引发的市场波动后，收益率目前已回落至1月初水平——当时正值高市提前大选的消息 首次被报道。 债券市场的反应表明，一些投资者押注高市的胜选将带来更清晰 ...