2028 Targets - Amundi aims for an adjusted EPS greater than €7 in 2028[15] - The company targets a cost-to-income ratio of less than 56% by 2028[15] - Amundi plans to maintain a payout ratio of at least 65% over the period of 2025-2028[13, 15] - The company is targeting +€300 billion in cumulated net inflows from 2025-2028 on growth priorities[15] Strategic Priorities - Amundi intends to accelerate diversification, focusing on high-potential segments like retirement and digital distribution[32, 35, 36] - The company aims to expand its global footprint, particularly in Asia, with a target of +€150 billion in net inflows from 2025-2028[32, 37, 38] - Amundi plans to invest in private assets and ETFs, differentiate and optimize active investment strategies, and lead in responsible investment[32, 40, 41] - The company aims to conquer through digitalization and technology, seeking to double its FY 2028 revenues compared to 2024, with a 2024 baseline of approximately €95 million[32, 42, 43] ICG Partnership - Amundi has formed a major partnership with ICG in private assets, expecting a return on investment of ≥10% within 3 years and an EPS accretion of approximately 5% in 2028[44, 56, 57] - ICG has $123 billion in AuM as of March 2025, which is a x2 growth from March 2021 with $56 billion[50] ETF Business - Amundi is the 1 European ETF provider, with +€55 billion in net inflows in 2025[98] - Amundi's ETF & Indexing AuM reached €314 billion in September 2025, compared to €190 billion in 2021, representing a x1.6 increase[98] - Amundi plans to launch +50 new ETFs by 2028[104]

才，包括既熟悉金融又熟悉科技、数字等相关领域的复合型、交叉型人才，既了解国内又了解国际金融 市场的国际化金融人才，既懂金融业务又懂经营管理的领军型金融人才。 中国青年报客户端讯（陈云富 王淑娟 中青报·中青网记者 王烨捷）11月17日，第十四届"沪上金融家"评 选结果公布，21名上海金融英才分获"上海国际金融中心建设年度人物""沪上金融行业领军人物""沪上 金融行业创新人物"三大奖项。 据悉，本届"沪上金融家"评选采用自主报名、推举委员会提名，媒体评审、网络投票、专家评审相结合 的方式，最终评选出3位"上海国际金融中心建设年度人物"、8位"沪上金融行业领军人物"及10位"沪上 金融行业创新人物"。其中，浦发银行党委副书记、行长，浦发银行研究院院长谢伟，中国建设银行上 海市分行党委书记、行长刘军，中保投资公司党委书记、董事长，上海资产管理协会会长贾飙荣获"上 海国际金融中心建设年度人物"。 数据显示，2025年前9个月，上海金融市场交易总额达2967.83万亿元，同比增长12.7%，股票总市值、 银行间债市规模位居世界前列；同时，数字人民币国际运营中心投入运营，上海自贸离岸债成功发行， 绿色金融、科技金融等特色 ...

Core Points - Caliber has regained compliance with Nasdaq's minimum stockholders' equity requirement, closing the matter with the Nasdaq Listing Qualifications Department [1][2] - The company reported a stockholders' equity of at least $2,500,000, meeting the Nasdaq Listing Rule 5550(b)(1) [1] - Caliber's CEO, Chris Loeffler, emphasized the improved financial position and commitment to long-term shareholder value [2] Company Overview - Caliber (Nasdaq: CWD) is a diversified real estate and digital asset management platform with over $2.7 billion in managed assets [3] - The company has a 16-year track record in private equity real estate investing, focusing on hospitality, multi-family, and industrial real estate [3] - In 2025, Caliber launched a Digital Asset Treasury strategy, becoming the first U.S. public real estate platform to do so, which integrates real and digital asset investing [3]

Core Viewpoint - The launch of Fidelity's spot Solana ETF is expected to boost Solana's market position and potentially trigger a price rally for the cryptocurrency, which is currently the sixth largest in the world [1][3]. Group 1: Market Impact - Analysts predict that the combination of Fidelity's ETF launch and the recovery of the broader crypto market could lead to a price increase of up to 16% for Solana this month, with a target range of $156–$160 by late November [2]. - Solana's price has decreased by 27% over the past month, currently trading at $137 [2]. Group 2: Institutional Interest - The launch of Fidelity's ETF signifies a major shift in Wall Street's perception of digital assets, as financial giants are increasingly entering the crypto space, encouraged by favorable regulatory conditions [3]. - Canary Capital is also set to launch its SOLC fund, which will incorporate Solana's staking capabilities, indicating growing institutional interest in Solana [4]. Group 3: Competitive Landscape - Fidelity's move to launch a Solana ETF highlights the absence of BlackRock, a major player in the crypto ETF market, which has not yet announced plans for a spot Solana ETF, presenting a potential opportunity for Fidelity [6]. - The recent success of Canary's XRP ETF, which saw nearly $250 million in first-day inflows, sets a precedent that Solana may also benefit from [5].

Core Insights - Fidelity is launching its Solana ETF (FSOL) on November 19, 2025, with a 25-basis-point fee, marking a significant entry of traditional asset managers into the Solana ETF market [1][2] - BlackRock, the largest asset manager globally, is not participating in the Solana ETF competition, focusing instead on Bitcoin and Ethereum products, raising questions about the future of altcoin-based funds [1][6] Group 1: Market Expansion - The Solana ETF market is rapidly expanding, with Bitwise's BSOL debuting with approximately $450 million in assets and VanEck's VSOL launching on November 18, 2025 [2] - Canary Capital is also entering the market with its Solana ETF (SOLC), which includes on-chain staking through a partnership with Marinade Finance [3][4] Group 2: Competitive Landscape - Fidelity's FSOL is positioned to compete closely with other leading products due to its competitive fee structure [3] - Grayscale has added further competition in the Solana ETF segment, indicating a growing interest from institutional investors [4] Group 3: Institutional Interest - Open interest in SOL futures is increasing as the launch date approaches, signaling rising institutional interest in Solana exposure [5] - BlackRock's leadership has stated that the next-largest cryptocurrency after Ethereum accounts for only about 3% of the total cryptocurrency market capitalization, which is below their product launch thresholds [7][8]

Central Bank Gold Purchases - Goldman Sachs anticipates a significant increase in central-bank gold purchases for November, driven by a shift in reserve management as policymakers hedge against geopolitical and financial risks [1] - Goldman's estimates indicate central banks purchased 64 tons of gold in September, a notable rise from the 21 tons projected for August, suggesting strong buying momentum through year-end [1] Reporting and Transparency Issues - A large portion of central bank gold purchases remains unreported, with the World Gold Council estimating that only one-third of global buying is reported to the IMF, down from approximately 90% four years ago [2] - China's official monthly disclosures show minimal purchases, with only 1.9 tons reported in August and July, and 2.2 tons in June, leading analysts to believe these figures do not reflect actual buying [3] China's Accumulation Strategy - Société Générale estimates that China could accumulate up to 250 tons of gold this year through trade flows, accounting for over one-third of global central-bank demand [4] - China's strategy involves minimal disclosure of gold purchases to avoid potential repercussions from the U.S. administration, as gold is viewed as a hedge against the U.S. [6] Market Dynamics and Price Outlook - The reluctance to report gold purchases is linked to a desire to prevent front-running in an increasingly illiquid market, with delivery timelines for gold reported as long as eight weeks [6] - Despite a strong performance in gold prices, institutions are betting on continued outperformance, with Goldman projecting a target price of $4,900 for gold by 2026 [7]

Fidelity is set to debut a new Solana ETF on Tuesday. Credit: GHI/UCG/Universal Images Group via Getty Images. Key Takeaways VanEck launched the third spot Solana exchange-traded fund in the U.S. on Monday, Nov. 17. New offerings from Fidelity and Canary Funds will become the fourth and fifth on Tuesday. For now, BlackRock has no plans to enter the field with its own Solana product. Three weeks after Bitwise and Grayscale launched the first spot Solana exchange-traded funds (ETFs) in the U.S., com ...

Core Viewpoint - Mitsui Sumitomo Insurance (MSI) has agreed to acquire an 18% equity share in Barings for approximately $1.44 billion, while MassMutual retains an 82% stake and governance control over Barings [1][2][4] Group 1: Transaction Details - The transaction will provide MassMutual with approximately $1.44 billion (Y223.43 billion) in cash [1] - Barings manages over $470 billion in assets globally [1] - The acquisition is subject to standard closing conditions and regulatory approvals [4] Group 2: Operational Impact - Barings will continue to manage most of MassMutual's general investment account and will operate as an independent subsidiary without changes to its daily business activities or investment processes [2][3] - Barings CEO Mike Freno expressed excitement about the partnership with MSI, viewing it as an opportunity to accelerate growth [2] Group 3: Strategic Implications - The investment aligns with MS&AD's strategy to expand its asset management capabilities and diversify its business portfolio [4] - MS&AD will provide capital to support Barings' long-term expansion plans, enhancing its management of assets for MS&AD's general investment account [3][4] - The agreement opens collaboration opportunities with Martello Re, enhancing MS&AD's flexibility in managing insurance risks and capital efficiency [5]

Core Viewpoint - The decline of Bitcoin below $90,000 has intensified a selloff across global financial markets, raising concerns about leveraged investors triggering further selling pressure [1][4]. Group 1: Market Reactions - Bitcoin experienced a drop of up to 2.8% before recovering slightly, contributing to a broader decline in equity benchmarks in Europe and Asia, which fell more than 1% [1]. - US equity futures indicated another day of losses, reflecting the negative sentiment in the market [1]. - The Nikkei 225 Stock Average in Japan fell by 3.2%, with 10-year Japanese government bond yields reaching their highest since mid-2008 [6][7]. Group 2: Investor Sentiment - Portfolio manager Joseph Zhang noted that the declines across various asset classes are partially due to the spillover effects from the cryptocurrency market [2]. - There is a concern that the crypto selloff could lead retail investors to sell off other assets to meet margin calls, potentially creating a feedback loop of selling pressure [2]. - Analyst Hebe Chen indicated that the extended selloff in Bitcoin has heightened market risk alarms, suggesting deeper underlying issues [5]. Group 3: Future Outlook - Nick Twidale, chief market analyst, mentioned that further downside risk for cryptocurrencies could occur as portfolio adjustments are made to cover losses in equities [3]. - Zhang from Fidelity International suggested that once the selling pressure subsides, a market rebound could be possible [5].

Core Insights - The article discusses the current state and outlook of closed-end funds, emphasizing their investment strategies and market performance [2][3]. Group 1: Market Performance - Closed-end funds may trade at a discount or premium to their net asset value, indicating potential volatility in pricing [2]. - The performance of closed-end funds is subject to market conditions, and past performance does not guarantee future results [3]. Group 2: Investment Considerations - Investors are advised to consider the fund's investment objectives, risks, charges, and expenses before making investment decisions [2]. - The importance of reviewing the prospectus and accompanying documents is highlighted to understand the rights offering and fund details [2].