UBS Wealth closes U.S. equity overweight, favors emerging stocks

FILE PHOTO: Mark Haefele, Global Chief Investment Officer of UBS Wealth Management attends the Reuters Investment Summit, London, Britain, November 16, 2017. REUTERS/Paul Hackett (Reuters) – UBS Global Wealth Management has closed its overweight position in U.S. equities and shifted to an overweight in emerging market and Japanese stocks, it Continue Reading

Norway’s wealth fund extends ownership of New York real estate

OSLO (Reuters) – Norway’s sovereign wealth fund will pay about $98 million dollars to extend the term of its ownership in a portfolio of New York properties and to acquire a few new, the fund said on Wednesday. “The partnership between Norges Bank Investment Management (NBIM), Trinity Church Wall Street Continue Reading

Australian wealth manager IOOF hit with class-action lawsuit

SYDNEY (Reuters) – Australia’s embattled second-largest wealth manager, IOOF Holdings Ltd, was sued on Friday by shareholders who alleged the company engaged in deceptive conduct and breached stock market disclosure obligations. The class-action lawsuit is the ninth against a major financial firm since a public inquiry last year uncovered widespread Continue Reading