Financial Performance - The Carlyle Group Inc's net income attributable to common stockholders was $09 million for Q3 2025, resulting in $000 per share on a diluted basis[13] - Income before provision for income taxes was $86 million with a margin of 258%[3] - Distributable Earnings (DE) reached $368 million for Q3 2025 on a pre-tax basis, or $096 per common share post-tax[20] - Fee Related Earnings (FRE) amounted to $312 million for Q3 2025[20] - Realized Net Performance Revenues were $19 million for Q3 2025[20] Assets Under Management - Total Assets Under Management (AUM) stood at $474 billion, a 6% increase year-over-year[20] - Fee-earning Assets Under Management reached $332 billion, also up 6% year-over-year[20] - Perpetual Capital Fee-earning AUM totaled $108 billion, representing 33% of total Fee-earning AUM[20] Capital Management - A quarterly dividend of $035 per common share was declared[4, 20] - The company repurchased or withheld 33 million shares of common stock in Q3 2025, totaling $02 billion[20]

Regulatory Focus - The Securities Fund Institutional Supervision Department issued a regulatory notice regarding fabricated and disseminated false information by securities fund institutions [1] - The China Securities Regulatory Commission (CSRC) organized investigations into individual industry institutions and personnel involved in creating and spreading false information [1] - The CSRC took strict administrative regulatory measures against relevant institutions and personnel [1]

Core Insights - Northern Horizon Capital AS has transferred ownership of Baltic Horizon Fund to Antanas Anskaitis, Antanas Danys, and Tomas Milašauskas as of October 30, 2025 [1][2] - The transaction follows a share purchase agreement signed on August 21, 2025, and has received regulatory approval [2] - The new ownership aims to enhance the operational competitiveness and financial structure of the Baltic Horizon Fund [3] Management Changes - The management team of Baltic Horizon Fund will undergo changes, with Antanas Anskaitis, Antanas Danys, and Tomas Milašauskas joining the Supervisory Board [5] - Tarmo Karotam and Gerda Bliuvienė will be part of the new Management Board [5] - Piret Jõhvik has been appointed as the Risk Control and Compliance Manager [5] Strategic Focus - Northern Horizon A/S will concentrate on its healthcare funds, positioning itself as a leader in social infrastructure investments in the Nordics [3] - The new owners express commitment to transparent communication and the collective interests of all unitholders [3] - A name change to Baltic Horizon Capital AS is being initiated, pending registration with the Estonian Commercial Register [4]

Core Viewpoint - Invesco is an independent investment management firm focused on enhancing the investment experience for individuals [1] Group 1: Company Overview - Invesco aims to help people get more out of life through its investment services [1] - The firm provides a range of investment products and advisory services [1] Group 2: Services and Offerings - Invesco offers educational resources and expert investment views through its US Blog [1] - The company emphasizes the importance of understanding investment objectives, risks, charges, and expenses before investing [1] Group 3: Regulatory and Compliance Information - Invesco advises investors to consult legal or tax professionals for personalized advice due to the complexity of tax laws [1] - The firm clarifies that the opinions expressed are based on current market conditions and may change without notice [1]

Core Viewpoint - Invesco is an independent investment management firm focused on enhancing the investment experience for individuals, aiming to help them achieve more in life [1] Group 1: Company Overview - Invesco provides a range of investment advisory services and does not sell securities, operating through various affiliated investment advisers [1] - The firm emphasizes the importance of understanding investment objectives, risks, charges, and expenses before making investment decisions [1] Group 2: Services and Offerings - Invesco offers educational resources and expert investment views through its US Blog, encouraging individuals to stay informed about market conditions [1] - The company distributes its retail products and collective trust funds through Invesco Distributors, Inc., which is the US distributor for Invesco Ltd. [1] Group 3: Regulatory and Compliance Information - Invesco highlights that the tax information provided is general and not exhaustive, advising investors to consult their own legal or tax professionals for personalized advice [1] - The firm notes that opinions expressed are based on current market conditions and may change without notice, indicating a dynamic investment environment [1]

Core Insights - Apollo Global Management, Inc. (NYSE:APO) is identified as one of the best bargain stocks to buy in November, despite a recent price target reduction by Morgan Stanley from $154 to $151 while maintaining an "Equal Weight" rating [1] - The company is planning to sell its Hispanic grocery chain, Heritage Grocers Group, which could generate approximately $1.5 billion, amid declining consumer demand in Latino communities due to fears of immigration raids [2] - Baron Funds noted that shares of Apollo detracted in Q1 2025 due to a reversal in economic sentiment and capital market activity, although they continue to hold the stock due to Apollo's focus on credit and strong management [3] Group 1: Stock Performance and Analyst Ratings - Morgan Stanley reduced the price target on Apollo's stock to $151 from $154, citing updated price targets for Alternative Asset Managers in North America [1] - The performance of alternative asset manager stocks, including Apollo, has been affected by uncertainty and volatility surrounding economic policies, leading to a reversal of gains from the previous year [3] Group 2: Business Developments - Apollo Global Management is planning to divest its Heritage Grocers Group, potentially raising around $1.5 billion, as the grocery chain has faced challenges due to weak consumer spending [2] - The grocery chain's performance has been negatively impacted this year, particularly in Latino communities, due to concerns over immigration raids affecting consumer demand [2]

Core Points - The China Fund, Inc. has completed its planned liquidation on October 29, 2025, with stockholder interests in the Fund's assets determined as of that date [1] - Shares of the Fund will cease trading on the NYSE prior to the opening of business on October 30, 2025 [1] - The primary liquidating distribution is expected to be paid in cash on October 31, 2025, with a per-share distribution amounting to $18.335460 [3] Liquidation Details - The Fund may issue additional smaller distributions in the future if it is not feasible to distribute all assets in the primary distribution [3] - The liquidation is generally a taxable event for stockholders subject to U.S. federal income tax, with capital gains or losses realized based on the difference between the total liquidating distribution received and the adjusted basis in the Fund's shares [3] Acknowledgments - The Board expressed gratitude to stockholders for their support over the Fund's more than 40 years of operation [4]

Core Insights - Elm Wealth's Elm Market Navigator ETF has surpassed $500 million in assets under management within nine months of its launch, marking it as one of the fastest-growing allocation ETFs of the year [1][2][3] - The ETF offers a low-cost, fully transparent, rules-based dynamic allocation strategy, addressing the limitations of traditional target-date and active allocation funds [2][3][4] Company Overview - Elm Wealth is an independent investment management firm founded by Victor Haghani, focusing on intelligent and cost-effective wealth management [9][18] - The firm has over $2.5 billion in total assets under management across its ETF and Separately Managed Account platforms for approximately 500 families [8] Investment Strategy - The Elm Market Navigator ETF employs a dynamic index investing methodology that systematically adjusts allocations based on market conditions, with a net expense ratio of 0.24%, significantly lower than comparable funds [2][3][5] - The fund maintains a baseline allocation of 75% in global equities and 25% in fixed income, with weekly adjustments based on expected returns and market momentum [5][7] Market Positioning - The ETF's rules-based approach has allowed it to increase allocations to non-US equities in 2025, capitalizing on favorable market conditions where international equities have outperformed US markets [4][5] - Elm Wealth's strategy originated as a private fund in 2011, and the ETF launch in February 2025 democratized access to this investment approach for all investors [7][8]

Core Viewpoint - S&P Global Ratings has assigned a long-term credit rating of A- with a stable outlook to Henan Capital Group, marking its first international credit rating and reflecting recognition of the regional economic strength of Henan [1][2]. Group 1: Credit Rating and Recognition - The rating signifies acknowledgment from a major international rating agency regarding the development capabilities of Henan Capital Group, particularly in areas such as state asset disposal, capital operation, strategic provincial investments, mineral resource development, steel manufacturing, state property element trading, and new energy development [1]. - This credit rating lays a solid foundation for Henan Capital Group's future endeavors in overseas capital markets and supports the expansion of Henan's investments abroad [1]. Group 2: Company Overview - Henan Capital Group has established 189 wholly-owned and holding companies, holding stakes in several provincial enterprises including Henan Steel Group, China Henan International Group, and others, with total assets nearing 1 trillion yuan [2]. - The company is recognized as a "Double Hundred Enterprise" by the State-owned Assets Supervision and Administration Commission (SASAC) and holds a domestic AAA credit rating [2].

Core Viewpoint - Northern Horizon Capital AS has received approval from the Estonian Financial Supervision and Resolution Authority for the sale of its shares to private investors, indicating a significant change in ownership structure [1][2]. Group 1: Transaction Details - The sale involves all 12,500 shares of Northern Horizon Capital AS, previously held by Northern Horizon A/S, to Antanas Anskaitis, Antanas Danys, and Tomas Milašauskas [1]. - This transaction follows the signing of a share purchase agreement with the partners of Grinvest on 21 August 2025, and is expected to be completed within 10 days of the approval [2]. Group 2: Company Background - Northern Horizon Capital AS manages the Baltic Horizon Fund, which is a registered contractual public closed-end real estate fund [3]. - Grinvest, the private investment firm involved in the transaction, has interests in commercial property, transportation, and infrastructure [4].