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]

Core Insights - GCM Grosvenor reported a record $87 billion in assets under management (AUM), reflecting a 9% increase year-over-year, with strong investment performance across all business verticals [1][18] - The company achieved significant growth in fee-related earnings, adjusted EBITDA, and adjusted net income, all up 18% year-over-year, with a fee-related earnings margin of 45% [2][21] - Fundraising momentum remains strong, with $7.2 billion raised year-to-date, surpassing the total for the entire year of 2024, and $9.5 billion raised over the last twelve months, marking the highest fundraising period on record [5][12] Financial Performance - Fee-related earnings for the quarter increased by 18% year-over-year, with adjusted net income also up 18% [2][21] - The company’s gross unrealized carried interest balance reached an all-time high of $941 million, with $24 million in carried interest realized during the quarter [6][21] - Total management fees for the quarter were $101.4 million, a 7% increase year-over-year, with expectations for continued growth in the fourth quarter [19][21] Investment Strategies - Absolute Return Strategies (ARS) delivered a gross rate of return of 14.2% over the last twelve months, with management fees for ARS growing 6% year-over-year [1][19] - Infrastructure and credit strategies accounted for nearly two-thirds of the capital raised, indicating strong demand in these areas [12][13] - The company plans to launch new funds, including a private equity fund and a diversified infrastructure fund, to expand its market offerings [16][17] Growth Outlook - GCM Grosvenor aims to double its fee-related earnings to over $280 million by 2028 and increase adjusted net income per share to more than $1.20 [10][22] - The company’s client-first culture and scalable investment platform are expected to drive substantial AUM growth across various investment strategies over the next five years [8][11] - The firm is well-positioned strategically and financially, with a strong pipeline and high levels of activity in fundraising and investment [6][12]

Core Viewpoint - The investment community is closely monitoring the Federal Reserve's decisions on interest rates, particularly following the recent rate cut announced by Jerome Powell, with uncertainty surrounding potential further cuts in December [1][4]. Impact on Dividend ETFs - Lower interest rates will significantly affect dividend ETFs, which are popular among investors seeking income and stability. The recent rate cuts could either benefit or hinder these investment strategies [3][5]. - As the Federal Reserve cuts rates, yields on cash and money market funds are expected to decline, making dividend-paying stocks and ETFs more attractive. This shift is already leading to increased interest in dividend growth-focused ETFs as investors adjust their portfolios for lower yields [6][7]. Market Reactions and Predictions - The likelihood of another rate cut in December has decreased, with traders estimating the odds at 67%, down from 90% [4]. - Dividend ETFs such as ProShares S&P 500 Dividend Aristocrats (NOBL) with a yield of 2.13%, Schwab U.S. Dividend Equity (SCHD) yielding 3.90%, and JP Morgan Equity Premium Income (JEPI) offering an 8.42% yield through covered calls are becoming more appealing as traditional cash yields decline [7].

PRESS RELEASE | November 6th, 2025 N° 02- 2025 SCOR Investment Partners reaches USD 5 billion in Assets Under Management for its Insurance-Linked Securities strategy SCOR Investment Partners announces it has surpassed USD 5 billion in assets under management on its investment platform dedicated to Insurance-Linked Securities (ILS), with catastrophe bonds being the most well-known category, confirming its position as a leading global player in this asset class. The steady growth of assets under management ...

Financial Performance - Underlying net income reached $1.047 billion, a 3% increase year-over-year[163, 182] - Reported net income was $1.106 billion, an 18% decrease year-over-year[163, 182] - New business CSM increased by 16% to $446 million, driven by strong sales in Asia[163, 182] - Total AUM increased by 7% year-over-year to $1.623 trillion[6, 29, 182] Business Segment Highlights - Asset management & wealth underlying net income increased by 5% year-over-year to $500 million[29, 182] - Individual - Protection underlying net income increased by 25% year-over-year to $361 million[29, 182] - Group - Health & Protection underlying net income decreased by 18% year-over-year to $284 million[29, 182] Capital Management - SLF Inc's LICAT ratio increased to 154%, up 3 percentage points from the previous quarter[29, 83, 182] - The financial leverage ratio is at 21.6%[29, 83, 182] - Holdco cash stands at $2.1 billion[33, 83]

LAS VEGAS — As 2025 winds down, many investors are bracing for year-end mutual fund distributions, which can trigger a hefty tax bill for assets held in a taxable brokerage account. But there are strategies to avoid the payout, experts say.   For 2025, "you've got some pretty eye-watering numbers," with some funds planning to distribute double-digit capital gains, said Brandon Clark, director of exchange-traded funds for asset management firm Federated Hermes. After another strong year for the stock market, ...

Financial Data and Key Metrics Changes - Total fee-paying assets under management (AUM) reached $29.1 billion, a 17% increase year-over-year [6][13] - Fee-related revenue (FRR) for the third quarter was $75.9 million, a 4% increase compared to the same quarter in 2024 [15] - Adjusted net income (ANI) was $28.6 million, a decrease of 7% from the third quarter of 2024 [17] - Fully diluted ANI per share was $0.24 compared to $0.26 in the prior year [17] - Operating expenses remained flat at $65.2 million compared to the third quarter of last year [16] Business Line Data and Key Metrics Changes - Private equity strategies raised and deployed $711 million, while venture capital solutions raised and deployed $12 million [16] - Private credit strategies added $192 million to fee-paying AUM [16] - The company raised and deployed $915 million in organic gross new fee-paying AUM during the third quarter [5][13] Market Data and Key Metrics Changes - The company raised and deployed $4.3 billion of organic fee-paying AUM in the first three quarters of 2025, a 48% increase compared to the same period in 2024 [6][8] - The fundraising environment remains resilient, with strong demand for secondary products and multi-strategy offerings [16] Company Strategy and Development Direction - The company aims to expand its private credit franchise, which currently represents less than 20% of fee-paying AUM [4][5] - The focus is on the middle and lower middle markets, which are seen as having significant growth opportunities [6][10] - The company plans to continue engaging with larger pools of global capital and expanding its product offerings [11][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strength of the underlying business and the quality of credit portfolios [5][12] - The company anticipates a return to historical averages for step-downs and expirations in 2026 [14] - Management is optimistic about the macroeconomic environment improving, which could enhance deployment opportunities and returns across the platform [48][49] Other Important Information - The company repurchased approximately 110,000 shares at a weighted average price of $11.34, totaling $1.25 million [12] - A quarterly cash dividend of $0.033 per share was approved, payable on December 19, 2025 [18] - The company has $26 million remaining on its buyback authorization [52] Q&A Session Summary Question: Clarification on estimate-driven step-down and client commitment - Management confirmed that the new client commitment is included in fee-paying AUM and was part of a structured relationship [22] Question: Details on Qualitas US fund and insurance company contributions - The Qualitas US fund will primarily invest in the US and be marketed to European investors, showcasing platform synergies [24][26] - Management noted a focus on expanding relationships with large capital allocators, including insurance companies [27][28] Question: Steps to support accelerated growth in the credit platform - Management emphasized disciplined underwriting and identified growth opportunities in NAV lending and impact credit strategies [33][35] Question: Challenges faced by mid and lower mid-market-focused managers - Management highlighted structural advantages in the lower middle market and the importance of strategic insights provided to GPs [40][42] Question: Impact of M&A environment on the company - Management indicated that a more accommodative macro environment would benefit all players, including P10, by enhancing deployment opportunities [48][49] Question: Current buyback capacity and authorization - Management stated there is $26 million remaining on the buyback authorization and reiterated the importance of share repurchases as a capital return tool [52]

Third Quarter 2025 Results Earnings Presentation Important Disclosures IMPORTANT NOTICES The inclusion of references to P10, Inc. ("P10" or the "Company") in this presentation is for information purposes only as the holding company of various subsidiaries. P10 does not offer investment advisory services and this presentation is neither an offer of any investment products nor an offer of advisory services by P10. By accepting this presentation, you acknowledge that P10 is not offering investment advisory ser ...

Core Viewpoint - Australia risks losing its competitive edge in global capital markets due to slow adoption of tokenization, which could drive issuers and investors offshore [1][2] Group 1: Tokenization and Market Dynamics - Tokenization allows for the democratization of financial assets, enabling smaller, more affordable units to be traded quickly and securely on a global scale [3] - The Australian Securities and Investments Commission (ASIC) Chair Joe Longo emphasized the need for Australia to innovate or face stagnation, noting that the country was once a leader in market innovation but is now being outpaced by others [3][4] - J.P. Morgan plans to fully tokenize its money market funds within two years, highlighting the urgency for Australian institutions to adapt to changing market dynamics [4] Group 2: Regulatory and Competitive Landscape - Longo's remarks serve as a wake-up call for traditional finance in Australia, urging the sector to embrace tokenization to remain competitive [4] - Industry leaders in the U.S. predict a global shift towards tokenization, with calls for strong investor safeguards to accompany this transformation [5] - Australia is competing for global capital and has a limited window to capitalize on opportunities; failure to act could result in becoming "the land of missed opportunity" [6]