Investment Performance

Wells Fargo Cites New Facts in Bid to Disband Plaintiffs

Wells Fargo & Co., citing “new facts,” asked a judge to revoke the class-action status he bestowed on a suit by institutional investors who claimed the bank marketed a risky securities-lending program as safe.

Man Advances as Firm Redeems Debt, Considers Stock Buy-Back

Man Group Plc, the world’s biggest publicly traded hedge fund manager, jumped the most in a year in London trading after saying it plans to redeem all debt and may buy back shares.

Fortress First-Quarter Profit Rises 75% on Fee Income

Fortress Investment Group LLC, the first publicly traded private-equity and hedge-fund manager in the U.S., said first-quarter profit rose 75 percent because of higher fees paid to the firm for managing its funds.

Jupiter’s Assets Climb as Fund Performance Outweighs Inflows

Jupiter Fund Management Plc, the U.K. money manager run by Edward Bonham Carter, said assets under management grew 11 percent in the first quarter as its funds outperformed rising equity markets.

Artisan Partners Jumped After Pricing Initial Offer Above Range

Artisan Partners Asset Management Inc., the Milwaukee-based money manager that withdrew plans to go public in 2011, jumped in trading after pricing its initial public offering above the proposed range.

BlackRock Hires Former Swiss Re CIO Blumer to Head European Unit

BlackRock Inc., the world’s biggest money manager, hired Swiss Re Ltd.’s former chief investment officer, David Blumer, as head of Europe, the Middle East and Africa.

China Life Profit Slumps on Investment Losses of Stock Holdings

China Life Insurance Co., the nation’s biggest insurer, said profit slumped for a second consecutive year amid mounting investment losses.

RBC Ranks First in Investor Satisfaction, J.D. Power Says

RBC Wealth Management, the unit of Toronto-based Royal Bank of Canada that oversees almost $200 billion for more than 350,000 households, won the highest satisfaction ranking in a survey of full-service investment firms’ customers, according to J.D. Power & Associates.

Brevan Howard Paid Partners 270 Million Pounds Last Year

Brevan Howard Asset Management LLP paid its partners as much as 269.8 million pounds ($436 million) in the 12 months ended in March, more than double the amount it paid them a year earlier, after the hedge fund’s investment performance beat rivals.

Legg Mason’s Ron Dewhurst to Leave After Losing CEO Bid

Legg Mason Inc., the money manager that named Joseph A. Sullivan its chief executive officer in February after a five-month search, said Ron Dewhurst, who was a candidate for the position, is leaving the firm.

Europe

New York

Cameron Meets Security Chiefs on Suspected London Terror

Japanese Stocks Plunge Most Since March 2011 on Yields

Europe Stocks Drop on U.S. Stimulus Concern, China Data

Syrian Army Advances Signal Assad May Survive for Years

Asian Stocks Plunge on China PMI as Japan Shares Plummet