Australian investment management firm Challenger said anxiety about running out of money in retirement and cost-of-living pressures are driving record demand for annuities https://t.co/XjcpWxynol ...

Core Viewpoint - Invesco is an independent investment management firm focused on enhancing the investment experience for individuals [1] Group 1 - Invesco offers expert investment views through its US Blog, encouraging individuals to stay informed [1] - The firm emphasizes the importance of reading the prospectus and considering investment objectives, risks, charges, and expenses before investing [1] - Invesco does not provide tax advice and highlights the complexity and variability of federal and state tax laws [1] Group 2 - The opinions expressed by Invesco's authors are based on current market conditions and may change without notice [1] - Invesco's investment advisory services are provided by affiliated investment advisers, and they do not sell securities [1] - Invesco Unit Investment Trusts are distributed by Invesco Capital Markets, Inc., and other broker-dealers [1]

Core Viewpoint - Gladstone Capital (GLAD) has experienced a significant downtrend, with a 12.2% decline over the past four weeks, but it is now in oversold territory, suggesting a potential turnaround due to improved earnings expectations from analysts [1]. Group 1: Technical Indicators - The Relative Strength Index (RSI) is a key technical indicator used to identify oversold conditions, with a reading below 30 typically indicating that a stock is oversold [2]. - GLAD's current RSI reading is 27.75, indicating that the heavy selling pressure may be exhausting itself, which could lead to a trend reversal [5]. Group 2: Fundamental Analysis - Analysts covering GLAD have shown strong consensus in raising earnings estimates, with a 1.4% increase in the consensus EPS estimate over the last 30 days, which often correlates with price appreciation [7]. - GLAD holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate revisions and EPS surprises, further supporting the potential for a near-term turnaround [8].

Company Overview - Rubicon Associates is led by a Chartered Financial Analyst with over 20 years of experience in investment management, focusing on fixed income and preferred stock portfolios, as well as asset allocation and macro portfolios [1] - The principal has managed nearly $7 billion in credit investments and oversaw research and trading activities in the credit market, including a $20 billion short-duration fund [1] Investment Strategy - The firm has experience analyzing and investing in both public and private companies globally, advising institutional clients on fixed income strategies, manager selection, and asset allocation [1] - Rubicon Associates has contributed written content for platforms such as Seeking Alpha, Learn Bonds, and TheStreet.com, in addition to advising both institutional and private investors [1]

Core Viewpoint - Rosen Law Firm has announced a class action lawsuit on behalf of purchasers of BlackRock TCP Capital Corp. securities, alleging that the company made materially false and misleading statements regarding its business and operations during the specified class period from November 6, 2024, to January 23, 2026 [1][5]. Group 1: Lawsuit Details - The class action lawsuit claims that BlackRock TCP's investments were not being timely and appropriately valued, and that efforts at portfolio restructuring were ineffective [5]. - The lawsuit alleges that BlackRock TCP's unrealized losses were understated and its net asset value (NAV) was overstated, leading to materially misleading statements about the company's business prospects [5]. Group 2: Participation Information - Investors who purchased BlackRock TCP securities during the class period may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [2]. - To join the class action, interested parties can visit the provided link or contact the law firm directly for more information [3][6].

Core Viewpoint - A class action lawsuit has been filed against BlackRock TCP Capital Corp. for allegedly making materially false and misleading statements regarding its business operations and financial health during the Class Period from November 6, 2024, to January 23, 2026 [1][5]. Group 1: Lawsuit Details - The lawsuit claims that BlackRock TCP failed to disclose that its investments were not being appropriately valued, which led to understated unrealized losses and an overstated net asset value (NAV) [5]. - Defendants allegedly made positive statements about BlackRock TCP's business that were materially misleading and lacked a reasonable basis [5]. - Investors are encouraged to join the class action to seek compensation without any out-of-pocket fees through a contingency fee arrangement [2]. Group 2: Legal Representation - The Rosen Law Firm, which is leading the class action, has a strong track record in securities class actions, having recovered hundreds of millions of dollars for investors [4]. - The firm was ranked No. 1 for the number of securities class action settlements in 2017 and has consistently been in the top ranks since 2013 [4]. - Investors are advised to select qualified counsel with a proven success record, as many firms may not have comparable experience [4].

Core Insights - A new Morningstar report indicates that semiliquid funds do not serve as diversifiers for traditional portfolios, but rather expand clients' overall equity and credit allocations [1] Group 1: Advisor Perspectives - The findings challenge the common belief among advisors that private market allocations provide risk diversification, as highlighted by a 2025 survey where 67% of advisors use interval funds to access private assets [2] - Advisors typically allocate to private debt, real estate, infrastructure, structured notes, hedge funds, and natural resources for diversification, while private equity and digital assets are seen as return enhancers [2] Group 2: Market Transparency Initiatives - Morningstar and XA Investments are working to enhance transparency in the performance of semiliquid vehicles, with Morningstar launching the U.S. Evergreen Fund Indexes to track various fund types [3] - XA Investments has introduced the XAI Interval Fund Index, which monitors 77 interval and tender offer funds [3] Group 3: Investment Horizon and Expectations - To fully benefit from semiliquid funds, investors should commit for a minimum of seven to ten years, despite the liquidity features these funds offer [4] - Investors are advised to expect returns at least 2% above those of public markets to compensate for the illiquidity period [4] Group 4: Performance Evaluation Challenges - Determining how often semiliquid funds deliver expected results is challenging, as over half of interval funds are less than three years old [5] - The perceived performance premiums of semiliquid funds may sometimes be misleading, particularly when higher leverage is involved in private credit funds [5]

Fourth Quarter 2025 Results February 13, 2026 REAL ESTATE SERVICES | ENGINEERING | INVESTMENT MANAGEMENT Colliers 2 Highlights (US $ millions, except per share amounts) | Three months ended | 2025 | 2024 | %Change | | | --- | --- | --- | --- | --- | | December 31 | | | USD | LC(1) | | Revenues | 1,606.5 | 1,501.6 | 7% | 5% | | Net Revenues | 1,428.1 | 1,312.8 | 9% | 7% | | Adjusted EBITDA | 245.1 | 225.3 | 9% | 6% | | Adjusted EBITDA Margin | 15.3% | 15.0% | | | | Net Margin | 17.2% | 17.2% | | | | Adjusted ...

Core Viewpoint - Hamilton Lane (HLNE) has experienced a significant decline of 20% over the past four weeks, but it is now positioned for a potential trend reversal as it is in oversold territory, supported by analyst expectations of better-than-expected earnings [1]. Group 1: Technical Indicators - The Relative Strength Index (RSI) is a key technical indicator used to determine if a stock is oversold, with readings below 30 indicating oversold conditions [2]. - HLNE's current RSI reading is 29.69, suggesting that the heavy selling pressure may be exhausting itself and a trend reversal could occur soon [5]. Group 2: Fundamental Indicators - There is a strong consensus among sell-side analysts that HLNE's earnings estimates for the current year have increased by 15.4% over the last 30 days, indicating a positive outlook for the stock [7]. - HLNE holds a Zacks Rank 1 (Strong Buy), placing it in the top 5% of over 4,000 ranked stocks based on earnings estimate revisions and EPS surprises, further supporting the potential for a near-term turnaround [8].

Financial Data and Key Metrics Changes - The company closed the quarter with a 16.9% ROE and 19% for the full year, reflecting record high net income and diversification of revenue sources across various segments [18][46] - Net interest income increased by 4.2%, driven by loan portfolio growth and a contraction in interest expenses, resulting in a NIM of 6.6% [21][44] - The NPL ratio stood at 4.5%, indicating improved asset quality, while the cost of risk was 1.8% [21][43] Business Line Data and Key Metrics Changes - In Universal Banking, BCP reinforced its leadership in Peru, serving over 3.2 million loan clients and achieving a full-year ROE of 24.7% [10][27] - Microfinance, through Mibanco, delivered double-digit loan growth and improved profitability, with a NPA ratio of 5.3% [11][35] - Grupo Pacífico in Insurance and Pensions achieved a solid ROE of 21.4%, with net income rising 13% due to the full consolidation of the Banmédica transaction [38][40] Market Data and Key Metrics Changes - Peru's GDP grew around 3.5% in 2025, supported by strong domestic demand and high commodity prices [6][24] - Inflation in Peru closed at 1.5%, the lowest in seven years, while Colombia's inflation accelerated to 4.51% [25][26] - The mining investment pipeline for 2025 was estimated at $64 billion, up 17% from 2024, indicating a favorable investment climate [8] Company Strategy and Development Direction - The company aims to expand financial inclusion, deepen risk and capital discipline, scale AI and digital platforms, and build trust through operational excellence [15] - A strategic acquisition of Helm Bank for $180 million was announced to enhance cross-border capabilities and strengthen the U.S. offering [16][17] - The company expects to continue investing in data transformation and disruptive initiatives to bolster long-term competitive positioning [48] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in Peru's economic stability and growth potential, despite political uncertainties, with expectations for GDP growth around 3.5% in 2026 [24][50] - The company anticipates loan growth of approximately 8.5% in 2026, driven primarily by retail banking and Mibanco [47] - Management highlighted the importance of maintaining sound capital levels and improving operational efficiency, with an expected efficiency ratio between 45% and 46.5% in 2026 [48] Other Important Information - The company reported a risk-adjusted NIM of 5.28%, reflecting improved pricing and risk management capabilities [45] - Yape, the digital wallet initiative, closed the year with nearly 16 million monthly active users, significantly contributing to revenue growth [13][32] Q&A Session Summary Question: Update on political outlook and upcoming elections - Management noted that López Aliaga is leading the polls with 12%, while Keiko Fujimori follows at 8%, with a significant portion of undecided voters [54][55] Question: Expectations for operating expenses growth - Management expects operating expenses to moderate compared to 2025, with continued investments in innovation and core business [61][62] Question: Insights on Yape's lending and cost of risk - Management confirmed that Yape is shifting towards longer-duration loans, which should keep the cost of risk controlled while enhancing revenue [70][73] Question: Growth expectations amid election year - Management indicated that economic activity is performing well, with consumer confidence at its highest since early 2020, suggesting potential upside risks for growth [75][76]