Core Insights - Franklin Templeton and Wand AI have established a multi-year strategic partnership aimed at enhancing agentic AI capabilities within the asset management sector [1] Company Summary - The partnership will focus on advancing the use of artificial intelligence in investment strategies and asset management processes [1] - Franklin Templeton aims to leverage Wand AI's technology to improve decision-making and operational efficiency in managing assets [1] Industry Summary - The collaboration signifies a growing trend in the asset management industry towards integrating advanced AI technologies to optimize investment outcomes [1] - This partnership reflects the increasing importance of AI in driving innovation and competitive advantage within the financial services sector [1]

Financial Performance - Q3 2025 - Gross revenue reached $63 million, a 124% increase year-over-year compared to $2814 million in Q3 2024[21, 72] - Adjusted Net Income was $236 million, up from $147 million in the prior-year period[21, 72] - Adjusted EBITDA increased to $379 million, compared to $167 million in the prior-year period[21, 72] - Capital deployed for policy purchases totaled $1024 million[21] - Assets Under Management (AUM) reached $33 billion[16, 21] Growth & Profitability - Year-over-year revenue growth was 124%[22] - Year-over-year growth in capital deployed was 10%[22] - Adjusted Annualized Return on Equity (ROE) was 22%[22] - Adjusted Annualized Return on Invested Capital (ROIC) was 21%[20, 22] - Adjusted EBITDA Margin was 60%[20, 22] Revenue Mix & Targets - Life Solutions contributed 84% of revenue year-to-date, with a 5-year target of 30%[24] - Asset Group contributed 15% of revenue year-to-date, with a 5-year target of 30%[20, 24] - Technology contributed less than 1% of revenue year-to-date, with a 5-year target of 10%[24] - Wealth Advisors had no revenue year-to-date, with a 5-year target of 30%[24] Abacus Asset Group - Capital inflows for the quarter were $713 million, bringing the year-to-date total to $3544 million[25, 50] - Management fees for the quarter were $86 million, with a year-to-date total of $219 million[25, 50] - The company is targeting over $4 billion in fee-paying AUM by the end of 2026[25] ABL Tech - ABL Tech is tracking over 26 million lives[25, 62] - ABL Tech experienced a 21x year-over-year increase in lives tracked[25, 60]

Financial Performance - GAAP net loss attributable to StepStone Group Inc was $366.1 million, or $4.66 per share, for the quarter[3] - GAAP net loss was $575.5 million for the quarter and $587.5 million year-to-date[3] - Fee revenues increased by 17% to $217.5 million for the quarter and 18% to $430.2 million year-to-date[8] - Adjusted net income (ANI) was $66.7 million, or $0.54 per share, for the quarter, a 25% increase[8] - Fee-related earnings (FRE) increased 9% to $78.6 million for the quarter and 11% to $159.9 million year-to-date[8] - Gross realized performance fees increased 178% to $64.9 million for the quarter and 36% to $89.6 million year-to-date[26] Assets Under Management (AUM) - Assets under management (AUM) reached $209.1 billion, a 19% increase compared to the previous year[8] - Fee-earning AUM (FEAUM) grew by 27% to $132.8 billion[8] - Undeployed fee-earning capital remained relatively stable at $29.8 billion[8] Capital Raising and Deployment - The company raised $18 billion of new capital for separately managed accounts (SMA) over the last twelve months (LTM)[9] - $11 billion was raised for commingled funds over the LTM[9] - Total private wealth platform AUM is approximately $12.1 billion[9]

Core Insights - StepStone Group Inc. reported its second quarter fiscal 2026 results, highlighting a quarterly cash dividend of $0.28 per share of Class A common stock, payable on December 15, 2025 [1][2] Financial Performance - Total revenues for the quarter ended September 30, 2025, reached $454.225 million, a 67% increase compared to the same quarter in the previous year [6][17] - Management and advisory fees, net, amounted to $215.489 million, reflecting an 18% increase year-over-year [6][17] - Total performance fees surged to $238.736 million, marking a 175% increase compared to the same quarter last year [6][17] - Net income for the quarter was reported at a loss of $575.490 million, compared to a profit of $53.138 million in the same quarter of the previous year [6][17] Key Metrics - As of September 30, 2025, StepStone managed approximately $771 billion in total capital, including $209 billion in assets under management (AUM) [4] - The company’s fee-related earnings (FRE) for the quarter were $78.633 million, with a FRE margin of 36% [6][17] - Adjusted net income (ANI) for the quarter was $66.709 million, with ANI per share of $0.54 [6][17] Dividend Information - The Board of Directors declared a quarterly cash dividend of $0.28 per share, an increase from the previous quarter's dividend of $0.24 [1][8] Company Overview - StepStone Group Inc. is a global private markets investment firm that provides customized investment solutions and advisory services, serving a diverse client base including pension funds, sovereign wealth funds, and high-net-worth individuals [4]

VERO BEACH, Fla., Nov. 06, 2025 (GLOBE NEWSWIRE) -- Bimini Capital Management, Inc. (OTCQB:BMNM) ("Bimini” or the “Company”) today announced that Frank E. Jaumot has resigned as a director of the Company. Mr. Jaumot has been associated with the Company in various capacities dating back to its initial capital raise and has served as a director since 2009. Chairman and CEO Robert E. Cauley stated, “We are tremendously thankful for the many contributions Frank has made to Bimini since our earliest days and wis ...

Core Insights - Apollo Global Management Inc. reported a revenue of $1.15 billion for the quarter ended September 2025, marking a 24% increase year-over-year, with an EPS of $2.14 compared to $1.81 in the previous year [1] - The reported revenue exceeded the Zacks Consensus Estimate of $1.1 billion by 4.63%, and the EPS also surpassed the consensus estimate of $1.89 by 13.23% [1] Financial Performance Metrics - Total Assets Under Management reached $908 billion, exceeding the average estimate of $881.23 billion from three analysts [4] - Segment Income from Principal Investing showed realized performance fees of $201 million, slightly above the average estimate of $198.6 million [4] - Realized investment income in Principal Investing was reported at $18 million, compared to the average estimate of $13.98 million [4] - Fee-related performance fees in Asset Management were $73 million, surpassing the estimated $61.06 million [4] - Strategic capital management fees in Retirement Services were $35 million, exceeding the average estimate of $33.1 million [4] - Alternative net investment income in Retirement Services was $321 million, slightly below the estimate of $324.94 million [4] - Management fees in Asset Management totaled $863 million, compared to the estimated $857.4 million [4] - Capital solutions fees and other net income in Asset Management were $212 million, exceeding the average estimate of $181.1 million [4] - Fixed income and other net investment income in Retirement Services reached $3.42 billion, above the estimate of $3.28 billion [4] - Total Fee Related Earnings in Asset Management were $652 million, surpassing the estimate of $625.56 million [4] - Total Spread Related Earnings in Retirement Services were $871 million, exceeding the average estimate of $818.28 million [4] - Principal Investing Income was reported at $50 million, above the average estimate of $42.09 million [4] Stock Performance - Apollo Global Management's shares returned +7.2% over the past month, outperforming the Zacks S&P 500 composite's +1.3% change [3] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance relative to the broader market in the near term [3]

Group 1: Market Overview - The US stock market is experiencing a decline, with the Dow down nearly 300 points, approximately 0.61% [2] - The tech-heavy NASDAQ is leading the sell-off, with significant drops in large-cap tech stocks [3][5] - Qualcomm shares fell by 1.8% following earnings, while AMD saw a larger decline of about 5% [4] Group 2: Earnings Season Insights - Many tech companies are beating earnings estimates but still seeing stock price declines, indicating high investor expectations [6][12] - Qualcomm's recent earnings report did not provide additional details on a new data center chip, contributing to the stock's negative reaction [9] - Super Micro reported a 15.8% quarter-over-quarter growth in the semiconductor industry, but its stock fell due to design issues [21] Group 3: Warner Brothers Discovery - Warner Brothers Discovery reported a third-quarter loss of $148 million on $9 billion in revenue, with a 6% decline in revenue [33][38] - The company is planning to split into two entities by mid-2026, while also exploring strategic alternatives, including potential sales [35][36] - The studio and streaming businesses are seen as high-growth areas, generating nearly $4 billion in EBITDA, while the TV networks face challenges [41][49] Group 4: AI and Semiconductor Sector - The AI trade remains strong, with companies like Qualcomm, AMD, and Nvidia positioned to benefit from AI infrastructure investments [14][31] - Investors are encouraged to consider buying dips in semiconductor stocks, as earnings beats can lead to lower valuations if stock prices do not react positively [16][17] - The focus is shifting towards AI-powered infrastructure, including energy and networking opportunities [30][31] Group 5: M&A Activity - SoftBank is reportedly considering acquiring Marll Technology to combine it with ARM, indicating potential consolidation in the semiconductor space [24][25] - Marll is viewed as undervalued compared to peers, making it an attractive target for acquisition [25] Group 6: Supreme Court and Tariffs - The Supreme Court is hearing arguments regarding the legality of President Trump's tariffs, which have generated nearly $200 billion in revenue [74][120] - A ruling against the administration could lead to economic uncertainty and impact growth and hiring [120]

Core Insights - Franklin Resources, Inc. (BEN) reported preliminary assets under management (AUM) of $1.69 trillion as of October 31, 2025, reflecting a 1.7% increase from the previous month driven by market performance and the acquisition of Apera Asset Management, despite long-term net outflows of $2 billion [1][7]. AUM Breakdown - Equity assets reached $697.5 billion, up 1.6% from the prior month - Alternative AUM increased by 2.2% to $269.7 billion - Fixed income AUM slightly decreased to $437.1 billion - Multi-asset AUM was $196.4 billion, a 1.3% increase - Cash management balance rose significantly by 12.2% to $88.1 billion [2][7]. Market Performance and Outlook - October showed continued improvement for BEN, with total AUM growth supported by positive market movements and the Apera Asset Management acquisition, despite ongoing outflows - Gains across equity, multi-asset, alternative, and cash management segments indicate steady progress - The company's inorganic expansion is expected to enhance long-term growth prospects [3][7]. Stock Performance - Over the past year, BEN shares have increased by 7.8%, contrasting with a 10.1% decline in the industry [4].

Core Insights - State Street's investment management division is seeking to expand in India's $900-billion asset management market through a potential acquisition of a stake in a mutual fund [1][9] - The deal will leverage State Street's proprietary technology alongside the distribution network of the Indian partner [2][9] - State Street has been actively restructuring and pursuing inorganic growth, including recent acquisitions and partnerships to enhance its service offerings [3][4] Business Expansion Efforts - State Street's recent acquisition of global custody businesses from Mizuho Financial Group and partnerships with Ethic Inc. and Bridgewater Associates are part of its growth strategy [3][4] - The company aims to introduce model portfolios that include international equities and ETFs as part of its expansion in India [2] Financial Performance - Over the past four years, State Street's revenues have shown a compound annual growth rate of 2.7%, with projections for 2025 and 2026 revenues at $13.82 billion and $14.46 billion, respectively, indicating year-over-year growth of 5.7% and 4.7% [5] - The Zacks Consensus Estimate for the current quarter and next quarter is $3.56 billion and $3.54 billion, respectively, with year-over-year growth estimates of 4.46% and 7.69% [6] Competitive Landscape - Other financial firms, such as BlackRock and HSBC, are also expanding their presence in India, indicating a trend of increased competition in the market [7][10] - BlackRock's joint venture with Jio Financial and HSBC's strategic initiatives highlight the growing interest in India's financial sector [7][11] Stock Performance - State Street's shares have increased by 27.8% over the past six months, outperforming the industry average growth of 17.7% [12] - The company currently holds a Zacks Rank 2 (Buy), reflecting positive market sentiment [13]

Fund Strategy - UBS Group's asset management unit is developing a new fund focused on investing in significant risk transfers [1] - The fund's investments may include deals issued by UBS itself [1]