Core Insights - The U.S. Securities and Exchange Commission (SEC) is delaying the review and approval of exchange-traded funds (ETFs) tracking various altcoins due to a partial government shutdown [1][3] - Over 90 applications for ETFs based on the spot price of altcoins are currently under review, with potential approvals expected to start in early October, particularly for Solana-focused products [2][3] - The ongoing budget impasse between Senate Republicans and Democrats is making the October timeline for ETF approvals increasingly unlikely [3] Industry Developments - Issuers from both traditional finance and digital asset sectors are proposing funds based on various cryptocurrencies, including XRP, Cardano, Litecoin, and Dogecoin [3] - The SEC has limited personnel available for operations during the shutdown, impacting its ability to process applications [4] - Despite the delays, there is optimism in the industry regarding the eventual resolution of the budget issues, as expressed by industry leaders [4] Market Performance - The demand for digital asset-focused products has surged, driven by the success of spot Bitcoin and Ethereum funds [5] - Currently, 11 Bitcoin funds manage approximately $150 billion in assets under management (AUM), with BlackRock's iShares Bitcoin Trust being the fastest-growing ETF in the industry [6] - Ethereum funds have surpassed $22 billion in AUM, indicating strong investor interest in these digital assets [6] - Solana, with a market capitalization exceeding $118 billion, recently traded above $222, reflecting a more than 6% increase amid a general upswing in crypto prices [7]

Australian investment manager IFM Investors will wind down its domestic private equity unit in coming years, citing a lack of scale to make it commercially viable and a focus on other global priorities https://t.co/1xI8s26NK6 ...

Group 1: Market Liquidity and Speculation - Liquidity has been a primary driver of financial asset returns, with unprecedented speculative activity due to the Fed's actions since the pandemic [1][4] - The correlation between Ether and SPACs indicates broad speculation driven by easy liquidity conditions rather than fundamental asset performance [2] - Current financial conditions are very easy, allowing companies easy access to capital, as evidenced by historically narrow corporate spreads and the popularity of SPACs [7] Group 2: Federal Reserve's Role - The Fed influences the economy through the banking system, cutting rates to lower the cost of capital and encourage lending when banks restrict lending [5] - Conversely, when lending is excessive, the Fed raises interest rates to slow down the economy [6] - The Fed's recent rate cuts signal potential outcomes, including either a broadening of equity markets or further excess liquidity leading to more speculation [16][17] Group 3: Economic Conditions - The US economy is showing growth above the long-term average, as indicated by the Atlanta Fed's GDPNow tracker [10] - Inflation expectations are rising, influenced by tariffs and supply chain disruptions, which are typically inflationary [12][14] - Recent immigration policies are constraining labor supply, potentially leading to rising wages if demand for labor remains strong [14][15] Group 4: Investment Implications - Two potential outcomes from the Fed's rate cuts include a healthy broadening of the market or rampant speculation leading to misallocations within the economy [30] - Bubbles are inherently inflationary, misallocating capital and potentially leading to significant future inflation [18][20] - The current misallocation of capital, such as investments in cryptocurrencies instead of essential infrastructure, could exacerbate inflationary pressures [20]

Core Viewpoint - Investors in the Financial - Investment Management sector should consider Janus Henderson Group plc (JHG) and KKR & Co. Inc. (KKR) for potential value opportunities [1] Group 1: Company Rankings and Outlook - Janus Henderson Group plc has a Zacks Rank of 2 (Buy), indicating a stronger earnings outlook compared to KKR, which has a Zacks Rank of 3 (Hold) [3] - JHG is likely to have seen a stronger improvement in its earnings outlook than KKR recently, making it a more attractive option for value investors [3] Group 2: Valuation Metrics - JHG has a forward P/E ratio of 12.30, significantly lower than KKR's forward P/E of 25.16, suggesting JHG may be undervalued [5] - The PEG ratio for JHG is 1.07, while KKR's PEG ratio is 1.26, indicating JHG's expected earnings growth is more favorable [5] - JHG's P/B ratio is 1.42, compared to KKR's P/B of 1.74, further supporting the notion that JHG is a better value investment [6] Group 3: Overall Value Assessment - Based on various valuation metrics, JHG holds a Value grade of B, while KKR has a Value grade of D, reinforcing the preference for JHG among value investors [6]

Accessibility StatementSkip Navigation ATLANTA, Oct. 1, 2025 /PRNewswire/ -- Invesco Ltd. (NYSE: IVZ) will release its third quarter 2025 results on Tuesday, October 28. The earnings release and presentation materials are scheduled to be released and posted to the Investor Relations section of the Company's website, www.invesco.com/corporate, at approximately 7 a.m. ET. A conference call to discuss Invesco's results will be held at 9 a.m. ET on that day; the live audio webcast and replay can be accessed thr ...

Core Points - Guardian Capital Group Limited is updating shareholders regarding the upcoming special meeting to approve a plan of arrangement due to the ongoing Canada Post national labour strike [1][3][10] - If the arrangement is completed, Desjardins Global Asset Management Inc. will acquire all issued and outstanding Guardian Shares for C$68.00 per share in cash [2] Meeting Materials - The ongoing strike may cause delays in the delivery of meeting materials to Canadian shareholders, who are encouraged to access them electronically [3][4] - Guardian has couriered copies of the materials to Canadian shareholders and sent them electronically to those who consented [4][5] Voting Process - Shareholders are urged to vote online or by telephone due to the time sensitivity of the situation [5][10] - Detailed instructions for voting online and by telephone are provided for both registered and non-registered shareholders [6][15] Special Meeting Details - The special meeting is scheduled for October 23, 2025, at 11:00 a.m. Toronto time, with a proxy voting deadline of October 21, 2025 [10][11] - Shareholders of record as of September 15, 2025, are entitled to vote at the meeting [10] Company Overview - As of June 30, 2025, Guardian Capital Group Limited had C$164.1 billion in total client assets and a proprietary investment portfolio valued at C$1.25 billion [13]

Core Viewpoint - The strategic collaboration between AMG and BBH aims to expand BBH's structured and alternative credit investment strategies into the U.S. wealth marketplace, leveraging both firms' strengths in product development and distribution [1][3][5] Group 1: Strategic Collaboration Details - BBH has established a new subsidiary, BBH Credit Partners, to manage its taxable fixed income and structured credit business, with AMG providing seed capital and making a minority investment in this subsidiary [2][3] - The collaboration will utilize BBH's $55 billion taxable fixed income franchise and AMG's product development and distribution capabilities to launch innovative credit solutions tailored for U.S. wealth clients [3][4] Group 2: Expected Outcomes and Benefits - The partnership is expected to enhance BBH's presence in the U.S. wealth market, complementing its existing institutional presence globally, and will focus on meeting the evolving needs of clients in this sector [4][5] - AMG's investment is anticipated to be finalized in the first quarter of 2026, subject to customary closing conditions, further solidifying its role as a leading sponsor of alternative strategies for the U.S. wealth market [4][5] Group 3: Company Backgrounds - AMG is a strategic partner to independent investment management firms, with approximately $771 billion in assets under management as of June 30, 2025, focusing on high-quality partner-owned firms [6] - BBH, founded in 1818, has a long history of providing financial services and operates through two main business lines: Investor Services and Capital Partners [7]

Group 1 - Invesco is an independent investment management firm focused on enhancing the investment experience for individuals [1] - The firm emphasizes the importance of understanding investment objectives, risks, charges, and expenses before investing [1] - Invesco provides educational information but does not offer tax advice, highlighting the complexity and variability of federal and state tax laws [1] Group 2 - Invesco's investment advisory services are provided by affiliated investment advisers, and they do not sell securities [1] - The company distributes its products through Invesco Distributors, Inc., which is the US distributor for Invesco Ltd.'s retail products [1] - Invesco Unit Investment Trusts are distributed by Invesco Capital Markets, Inc., and other broker-dealers [1]

Core Points - NB Private Equity Partners Limited (NBPE) has reported its total voting rights as of September 30, 2025, with a total of 45,149,426 voting rights available [1] - Class A shareholders hold 48,299,834 shares, with 3,150,408 shares held in treasury, allowing them to attend and vote at general meetings [1] - Class B shares total 10,000, which do not carry voting rights except in certain circumstances [1] Company Overview - NBPE invests in direct private equity alongside leading private equity firms globally, managed by NB Alternatives Advisers LLC, a subsidiary of Neuberger Berman Group LLC [3] - The company aims for capital appreciation through growth in net asset value while providing bi-annual dividends, with a focus on fee efficiency by avoiding management fees and carried interest payable to third-party general partners [3] - Neuberger Berman, the parent company, manages $538 billion across various asset classes and has been recognized as a top workplace in money management for eleven consecutive years [6]

Core Points - Carlyle Secured Lending, Inc. has announced a public offering of $300 million in unsecured notes with a 5.750% interest rate, maturing on February 15, 2031 [1] - The net proceeds from the offering will be used to repay outstanding debt, fund new investment opportunities, and for general corporate purposes [2] - The offering is managed by several financial institutions, including J.P. Morgan Securities LLC and Barclays Capital Inc. [3] Company Overview - Carlyle Secured Lending, Inc. is a closed-end, non-diversified investment company regulated as a business development company, focusing on senior secured debt investments in U.S. middle-market companies [7] - The company is managed by Carlyle Global Credit Investment Management L.L.C., a subsidiary of Carlyle, which has significant resources and expertise [7] - Carlyle, as a global investment firm, manages $465 billion in assets across various segments, including Global Private Equity and Global Credit [8][9]