Passing the blue-blooded Cazenove Capital to a mutual fund manager with little brand recognition in the UK is a gamble, writes @hughes_chris (via @opinion) https://t.co/QJiASl3SAo ...

Core Viewpoint - GAM Holding AG is transitioning its leadership with the appointment of Gerhard Lohmann as Group CFO, effective March 26, 2026, to support the company's strategic growth phase [1][5]. Leadership Transition - Gerhard Lohmann will succeed Richard McNamara, who has served as Group CFO since 2015 and will leave the firm at the end of April 2026 [1][4]. - The transition aims to ensure a smooth handover and continuity in leadership as GAM moves into its next strategic phase [1]. Gerhard Lohmann's Background - Gerhard Lohmann has extensive experience in banking, insurance, reinsurance, and asset management, having held senior roles at Credit Suisse and Swiss Re [2]. - His previous positions include Chief Operating Officer for EMEA and Chief Financial Officer for International Wealth Management at Credit Suisse, and Chief Financial Officer of the Reinsurance Business Unit at Swiss Re [2]. - Lohmann is recognized for his leadership style and expertise in financial strategy, liquidity management, risk oversight, and M&A integration [2]. Richard McNamara's Contributions - Richard McNamara played a crucial role in guiding GAM through significant changes and establishing a solid foundation for future growth [4][5]. - His leadership has been instrumental in aligning the organization with its long-term growth priorities [4]. Company Overview - GAM is an independent investment manager based in Switzerland, focusing on delivering distinctive investment solutions across its Investment and Wealth Management businesses [6]. - As of June 30, 2025, GAM's total assets under management were CHF 12.7 billion, with a global presence in 15 countries [7].

Core Viewpoint - CoinShares International Limited has provided a business update for Q4 2025, highlighting the impact of market conditions on its performance and ongoing regulatory processes affecting its U.S. business combination efforts [1][2][3]. Group 1: Business Performance and Market Movements - In Q4 2025, CoinShares' business performance mirrored the digital asset market trends, with Bitcoin and Ethereum prices declining to approximately $88,000 and $2,900 respectively by year-end [5]. - The total gross Assets under Management (AuM) decreased by $2.20 billion in Q4 after a $1.56 billion increase in Q3, resulting in a year-end closing gross AuM of $7.40 billion [8]. - CoinShares Physical ETPs ended the year with gross AuM of $2.8 billion, achieving net inflows of $662 million in H2 2025 despite price declines in Q4 [8]. Group 2: Regulatory Developments - Regulatory frameworks in several European markets, including the UK and France, are evolving to support broader retail access to digital asset ETPs, which aligns with CoinShares' long-term distribution strategy [6]. Group 3: Product Launches - In H2 2025, CoinShares launched several products, including the CoinShares SEI Staking ETP and CoinShares Toncoin Staking ETP in Europe, as well as the CoinShares Altcoins ETF (DIME) in the United States [7]. Group 4: U.S. Transaction Progress - The company is progressing towards completing a business combination with Vine Hill Capital Investment Corp, with key developments including the submission of registration statements to the SEC [10][15]. Group 5: Financial Reporting Update - The Group's financial statements for the year ended December 2024 and interim financial statements for June 2025 will require restatement due to the preparation of the U.S. registration statement [11]. Group 6: Dividend Announcement - The Board has approved a dividend of $0.33 per share for the year ended December 31, 2025, totaling approximately $21.5 million, to be paid prior to the completion of the proposed business combination [12].

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Core Viewpoint - The company emphasizes its commitment to long-term value creation and its role in supporting the real economy through innovative financial products and services, while adapting to the evolving macroeconomic landscape [3][4][5][6][7] Group 1: Economic Resilience and Industry Role - The Chinese economy has shown strong resilience and maintained a positive long-term trend despite a complex global macro environment [3] - The public fund industry has integrated deeply into the national development framework, focusing on optimizing resource allocation and supporting the transformation of the real economy [4] Group 2: Innovation and Product Development - The company is focused on developing a diversified product matrix centered around new quality productivity, including key sectors like computing power and semiconductors [5] - It has successfully launched several innovative financial products, including the first domestic Sci-Tech Innovation Index ETF and AI Index products, enhancing the capital market's support for the tech industry and digital economy [5] Group 3: Long-term Investment Strategy - The company is addressing the challenges of an aging population by enhancing its pension finance offerings and developing a diversified pension product matrix [6] - It aims to create a virtuous cycle where long-term funds support the capital market, which in turn empowers improvements in people's livelihoods [6] Group 4: Global Expansion and Cross-Border Business - The company is committed to being a pioneer in the high-level opening of the capital market, focusing on global asset allocation and cross-border collaboration [7] - It plans to deepen its cross-border business layout and enhance its capabilities in multi-asset investment research and asset allocation [7] Group 5: Commitment to Investor Interests - The company has implemented a new fee structure to align its interests with those of investors, ensuring shared benefits [6] - It has achieved significant milestones, including over 100 billion in profits and continuous growth in client numbers, reflecting its commitment to investor-centric practices [6]

Core Insights - BlackRock has increased its stake in Bitmine Immersion Technologies by 166% in Q4, now valued at approximately $246 million, indicating a strong commitment to crypto infrastructure linked to the Ethereum ecosystem [1][3] - Despite a shaky market and warnings of Ethereum potentially dropping to $1,400, BlackRock's actions suggest a strategic positioning rather than panic, as they focus on long-term utility rather than short-term price fluctuations [2][4] - Institutional investors like BlackRock often buy when retail investors are fearful, indicating a potential divergence in market sentiment and strategy [3][5] Institutional Positioning - BlackRock's stake in Bitmine has grown to over 9 million shares by the end of 2025, alongside ARK Invest, which has increased its ownership to nearly 9.5 million shares, highlighting a trend of institutional accumulation despite market volatility [5][6] - The contrasting dynamics of weak price charts and steady institutional accumulation suggest that large asset managers are betting on the long-term development of crypto infrastructure [6]

Group 1 - Harvard Management Company has diversified its cryptocurrency investments, moving beyond Bitcoin to include other cryptocurrencies, indicating a shift in its investment strategy [1][7] - The endowment manager's stake in BlackRock's iShares Bitcoin Trust was initially around $116 million in 2025, which was later increased to approximately $443 million, making it the largest publicly disclosed U.S. equity holding at that time [7] - Recent filings show that Harvard has reduced its Bitcoin holdings by 21%, from 6,809,091 shares to 5,351,234 shares as of December 31, 2025 [8] Group 2 - Institutional investors are increasingly entering the cryptocurrency market, facilitated by the introduction of ETFs that lower barriers for traditional players [2] - Significant outflows from U.S. spot Bitcoin ETFs were reported, with a single-day net withdrawal of $817.8 million on January 29 and $509.7 million on January 30 [3] - Despite recent volatility, large asset managers like Goldman Sachs continue to build exposure to crypto through regulated investment products, including Bitcoin and Ethereum ETFs [5]

Group 1 - The average amount Americans believe they need for a comfortable retirement is over $2 million, specifically $2,089,000, which is significantly higher than traditional benchmarks [2] - A concerning statistic reveals that 62% of Gen-Xers have saved less than $150,000 for retirement, indicating a widespread shortfall in retirement savings [2] - The performance gap between pension funds and 401(k) plans is attributed to the inclusion of private assets in pensions, which typically outperform 401(k)s by about 0.5% annually, leading to a substantial difference over time [3] Group 2 - The lack of familiarity with private assets among plan providers is a barrier to their inclusion in 401(k) plans, which limits the potential for higher returns [4] - The practical inclusion of private assets like real estate and infrastructure in 401(k) plans has only become feasible in the last five to ten years, highlighting a recent shift in investment strategies [4]

Bitcoin and crypto markets have entered a new phase defined less by speculation and more by portfolio discipline, according to a new note from WisdomTree. Dovile Silenskyte, director of digital assets research at WisdomTree, wrote in a note shared with Decrypt that the days of survival and price discovery are behind crypto traders. "Crypto has moved on from its retail-led, boom-bust adolescence. Infrastructure largely works, regulation is tightening rather than retreating and capital is behaving more li ...

Core Insights - The article discusses three Fidelity ETFs that are recommended for long-term investment, emphasizing their performance and unique characteristics. Group 1: Fidelity ETFs Overview - Fidelity Fundamental Large Cap Growth ETF (FFLG) has outperformed broader indexes in most years over the past two decades, holding around 140 stocks across various sectors [1] - Fidelity High Dividend ETF (FDVV) offers a yield of nearly 3% with low fees (0.15%) and focuses on international large and mid-cap stocks, providing geographic diversification [1] - Fidelity Enhanced New India ETF (FENI) targets the high-growth Indian market, benefiting from consistent double-digit GDP growth and a weak U.S. dollar, making it a strong performer despite market volatility [1] Group 2: Performance and Strategy - FFLG employs a multi-factor model emphasizing fundamentals like earnings growth and valuation, aiming for returns on par with or better than broader index funds [1] - FDVV's sector tilt favors companies with income stability and capital appreciation, positioning it as a total return play rather than just a yield-focused investment [1] - FENI's strategy of focusing on the top 25-50 stocks in the Indian market allows for potentially safer exposure to high-growth opportunities [1]