Sun Life Reports Fourth Quarter and Full Year 2025 Results [Accessibility Statement] Skip NavigationThe information in this document is based on the unaudited interim financial results of Sun Life Financial Inc. ("SLF Inc.") for the period ended December 31, 2025. SLF Inc., its subsidiaries and, where applicable, its joint ventures and associates are collectively referred to as "the Company", "Sun Life", "we", "our", and "us". We manage our operations and report our financial results in five business segmen ...

PresentationMichael BrownUBS Investment Bank, Research Division All right. Hello. I'm Mike Brown, the U.S. asset manager and broker analyst here at UBS. I'm pleased to introduce, Michael Sacks, the Chairman and CEO of GCM Grosvenor who served as CEO since 1994. GCMG is a global alternative asset manager solutions provider with $91 billion of AUM across private equity, infrastructure, real estate, credit and absolute return investment strategies. Michael, thank you so much for joining us. ...

二是集聚高能级外资金融机构和国际金融组织。支持外资金融机构设立地区总部和分支机构，加快全球 资产管理中心建设，吸引更多资管行业主体集聚，吸引各类保险机构设立再保险运营机构，推动更多国 际金融组织落户上海。 三是深化投融资和跨境结算便利化。支持金融机构拓展全球服务网络，集聚跨境银团贷款中心和业务， 拓展自由贸易账户功能和应用场景，优化本外币一体化资金池管理，提升企业集团财资中心等总部经济 能级。 四是探索离岸金融服务。探索建立离岸金融制度规则体系，稳步推进自贸离岸债等业务发展，做好金融 风险监测和防范工作。 到2035年，上海"五个中心"功能全面升级，重要发展指标达到国际领先水平，城市能级和核心竞争力显 著提升，人均地区生产总值比2020年翻一番，基本建成具有世界影响力的社会主义现代化国际大都市。 具体到金融领域，周小全表示："推进金融高水平开放，是增强上海国际金融中心竞争力和影响力的重 要内容。'十四五'以来，在中央金融管理部门指导推动下，我们坚持以强化全球资源配置功能为主攻方 向，不断提升金融国际化水平，营造良好的营商环境，上海的金融开放枢纽门户地位持续强化。" "下一步，我们将继续落实好国家金融改革开放的 ...

Core Insights - The article discusses significant corporate actions and market dynamics, including Paramount's hostile bid for Warner Brothers, Netflix's merger opposition, and Kraft Heinz's reversal on its split plan [2][57]. Group 1: Corporate Actions - Paramount is increasing pressure for its hostile bid for Warner Brothers, with an activist investor opposing Netflix's merger [2]. - Ancora has built a stake in Warner Brothers and is pushing for engagement with Paramount, threatening to vote against the deal if Warner Brothers does not comply [3][4]. - Kraft Heinz has halted its plan to split into two, opting instead to invest $600 million in marketing and product improvements, citing a larger-than-expected opportunity [57][58]. Group 2: Market Dynamics - Duke Energy has signed deals with Microsoft and Compass to power data centers, reflecting the growing demand for electricity driven by the AI boom [7][8]. - Hyperscaler spending has surged, with Microsoft, Meta, Amazon, and Oracle spending a combined $150 billion in 2022 and 2023, projected to reach around $660 billion by 2026 [10][11]. - Alphabet is tapping the debt markets for financing, similar to Apple's past strategy, to support its cloud infrastructure buildout, anticipating significant growth in its cloud business [12][13]. Group 3: Investment Trends - General Atlantic's Chairman Bill Ford emphasizes the importance of global diversification in investment strategies, with 50% of their activity outside the U.S. [20][21]. - The firm sees opportunities in emerging markets, particularly in China, despite geopolitical complexities [25][26]. - The article highlights a trend of increased investment in AI and technology sectors, with significant spending expected to reshape business models and create new market opportunities [45][46].

Summary of the Conference Call Industry Overview - The conference featured discussions on the digital assets and cryptocurrency industry, highlighting the involvement of key players such as WisdomTree, Galaxy Digital, and Helix [1][2]. Key Points and Arguments Macro Update on Cryptocurrency - A sharp correction in crypto prices occurred in the second half of 2025, continuing into 2026, despite a supportive regulatory environment from the White House [5][6]. - The correction was attributed to a mini credit correction in October 2025, resulting in $19 billion of leverage unwinding, which negatively impacted retail and crypto-native market participants [6]. - The current market is characterized by less demand for speculation and a higher bar for crypto to meet investment narratives [7]. - The infrastructure for crypto is seen as a bull market, with a belief that the narrative will follow once prices stabilize [7]. Regulatory Environment - The current administration is viewed positively regarding digital assets compared to the previous one, with the CLARITY Act expected to provide more regulatory clarity [11][12]. - WisdomTree's Tokenized Money Market Fund received recognition from the SEC for 24/7 trading and settlement on-chain, marking a significant innovation in the market [12]. - Galaxy Digital has engaged with the SEC to explore tokenizing its equity, indicating a shift towards regulatory collaboration [13][14]. Tokenization of Real-World Assets - There is a strong belief that eventually, all assets will be tokenized on-chain, with WisdomTree already offering a broad portfolio of tokenized real-world assets [15][16]. - The growth of stablecoins is seen as a critical driver for the on-chain economy, which will lead to increased demand for tokenized assets [17][18]. - The NYSE's decision to allow tokenized stocks to trade 24/7 is viewed as a significant advancement in financial infrastructure [19]. Future of ETFs and Investment Products - WisdomTree aims to be a leader in tokenizing ETFs, with expectations that this will happen sooner rather than later [22][26]. - The integration of blockchain technology into traditional financial products is anticipated to enhance efficiency and create new investment opportunities [24][25]. - The convergence of traditional finance and blockchain is expected to evolve over the next few years, with first movers likely to gain significant advantages [24][26]. Institutional Adoption and Market Dynamics - Institutional adoption of digital assets is progressing, with major banks exploring tokenized deposits and other blockchain initiatives [63][64]. - The wealth market in the U.S., valued at over $50 trillion, remains underpenetrated by crypto technology, presenting a significant opportunity for growth [65]. Other Important Insights - The discussion emphasized the importance of regulatory clarity and the need for financial institutions to adapt to the evolving landscape of digital assets [51][55]. - There is a recognition that the infrastructure for crypto is becoming a top priority for many financial institutions, indicating a shift from pilot programs to full-scale integration [29][30]. - The conversation highlighted the competitive landscape, where firms must either innovate or risk losing market share to more agile competitors [28][59]. This summary encapsulates the key discussions and insights from the conference call, focusing on the evolving landscape of digital assets, regulatory developments, and the future of tokenization in the financial industry.

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Key Takeaways Apollo teams with Schroders to co-create hybrid income products for UK and US clients.New offerings will combine public and private fixed income to enhance diversification.US CIT launch in 2026 targets defined contribution pensions with Schroders Capital exposures.Apollo Global Management, Inc. (APO) has entered into a strategic partnership with Schroders to develop next-generation wealth and retirement investment solutions for institutional and wealth clients across the United Kingdom and the ...

Summary of Lazard Asset Management Conference Call Company Overview - **Company**: Lazard Asset Management - **AUM**: Approximately $265 billion [1] Key Points and Arguments Leadership Transition - **New CEO**: Chris Hogbin appointed as CEO of Lazard Asset Management in December [1] - **Experience**: Chris brings 30 years of global investment leadership, previously serving as global head of investments at AllianceBernstein [1] Strategic Vision - **Lazard 2030**: The vision set by group CEO Peter Orszag is a key attraction for Chris Hogbin [3] - **Strengths**: Lazard has strong investment and distribution capabilities, but there are areas for improvement [3][4] Priorities for Growth 1. **Delivering Investment Performance**: - Two-thirds of AUM is outperforming its stated benchmark, but there is room for improvement [7] - Appointment of a Chief Investment Officer, Eric Van Nostrand, to oversee portfolio managers and enhance performance [8][9] 2. **Growing the Business**: - Transition year with $8.5 billion of net inflows, excluding a significant client termination [11] - January saw nearly $3 billion in net inflows, indicating positive momentum [11] 3. **Capitalizing on Growth**: - Focus on improving margins without adding costs [12] - Need for operating leverage as the business grows [12] Strategic Business Mix - **Protect and Grow**: Focus on systematic equities, global listed infrastructure, and emerging markets [13] - **Invest and Enhance**: Investment in the investment team and new product development, including a move from 0 to $1 billion in active ETFs [14] - **White Space Opportunities**: - Expansion in public markets, private markets, and wealth management [15][16] M&A Considerations - Organic growth is preferred, but selective M&A may be necessary for expansion [17][20] - Focus on partnerships rather than large acquisitions in private markets [20] Institutional Investor Sentiment - Increasing skepticism among asset owners regarding U.S. market valuations, leading to diversification into international markets [25] - Two-thirds of managed assets are non-dollar denominated, indicating strong international exposure [26] Active ETF Business - Growth from 0 to 7 active ETFs with $1 billion AUM, indicating strong demand for successful strategies [35][36] - Future plans include expanding into Europe and innovating new ETFs [37] Margin Improvement - Current margins are below industry average, with no structural limitations to improvement [42][44] - Focus on growing existing products and rationalizing underperforming strategies [45][46] Distribution and Sales Strategy - Impressive distribution team performance with record gross sales of $55 billion [55] - Need for increased front-line personnel to enhance intermediary relationships [55][57] Wealth Management Opportunities - Wealth business in France is profitable and has growth potential; U.S. wealth business offers unique high-net-worth services [71][72] AI Integration - AI will be leveraged in investment processes, client experience, and operational efficiency [75][76] - Aim to automate routine tasks to allow analysts more time for strategic thinking [76] Closing Remarks - Confidence in Lazard's strengths and long-term growth vectors, contributing to the Lazard 2030 ambitions [78]

Please stay tuned for important disclosure information at the conclusion of this episode. >> Welcome to the long view. I'm Ben Johnson, head of client solutions for Morning Star. >> And I'm Christine Benz, director of personal finance and retirement planning for Morning Star.>> Today's guest on the Long View is Sarah Devero. Sarah is the chief investment officer of Vanguard Capital Management and global head of fixed income. She oversees the investment professionals responsible for portfolio management, tra ...

On Wall Street, rising fears about artificial intelligence keep pummeling shares of companies at risk of being caught on the wrong side of it all, from small software makers to big wealth-management firms. Most Read from Bloomberg The latest selloff was triggered by a tax-strategy tool rolled out by a little-known startup, Altruist Corp. The perceived threat sent shares of Charles Schwab Corp., Raymond James Financial Inc. and LPL Financial Holdings Inc. down by 9% or more over the last two days and hi ...