Posts Tagged ‘Barclays Global Investors’

Barclays to end IT contract with Accenture

Barclays has announced its IT contract with Accenture will not be extended when it comes up for renewal later this year.

The financial institution signed a £400 million six-year outsourcing deal with the technology solutions provider in 2004.

Accenture’s work involved providing services and staff related to IT maintenance, enhancement and systems development.

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Top 10 Best Business Deals of 2009

Emerging Markets Eastern Europe Index Fund (NYSEArca: ESR)

Barclays Global Investors introduced the iShares MSCI Emerging Markets Eastern Europe Index Fund (NYSEArca: ESR). The fund follows stocks from the Czech Republic, Hungary, Poland and Russia. ESR is benchmarked to the MSCI Emerging Markets Eastern Europe Index.

ESR holds 47 stocks and has annual expenses of 0.72%.

BlackRock planning global trading platform

Asset manager BlackRock is to launch its own global trading platform, it has emerged.

According to the Financial Times, the company intends to utilize the system to rival those used by many firms on Wall Street.

The business will have around $3,000 billion in assets under management once it has completed its acquisition of Barclays Global Investors (BGI) in December and it has appointed Minder Cheng of BGI to oversee the launch of the platform.

BlackRock said in a leaked internal memo seen by the news source that the new offering will “fully realize the cost efficiencies and trading opportunities across all asset classes as we become one of the largest trading operations in the world”.

Those familiar with the plan – which is said to still be in its early stages – explained that BlackRock will not be charging fees for the service due to the fact that it is being introduced in order to save clients money.

The company reached a deal worth around $13.5 billion for BGI in June.

Deutsche Bank to Liquidate Oil ETN (DXO)

9/15/09 update: my DXO shares were redeemed for cash today @ $4.37

Deutsche Bank announced that it will redeem all outstanding PowerShares DB Crude Oil Double Long Exchange Traded Notes (NYSEArca: DXONews).

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Vanguard registers for seven bond ETFs

Some see filing as a challenge to iShares, as four of the funds would be cheaper
Vanguard today filed a registration statement with the Securities and Exchange Commission to offer seven new bond index exchange traded funds in what some industry experts believe to be a direct challenge to iShares, the dominant fixed-income ETF provider.

Three of the ETFs are expected to invest in U.S.

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ETF assets hit a record $862B worldwide

The United States accounts for $582B in assets, according to BGI researchers

Exchange traded fund assets worldwide hit an all-time high of $862 billion at the end of July, 7% above the previous record of $805 billion set in April 2008, according to data released today from the London-based research team of Barclays Global Investors in San Francisco.
The assets were generated by 1,768 ETFs with 3,129 listings from 94 providers on 42 exchanges around the world.

U.S.

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Barclays shareholders approve Barclays Global Investors sale to BlackRock

Shareholders at Barclays have backed the sale of investment management unit Barclays Global Investors to fund manager BlackRock.

The move was approved at the bank’s annual general meeting (AGM) in London today (August 6th).

Since voting began this morning 99 per cent of investors voted in favor of the transaction after they were recommended to approve the deal by the bank. A final count is expected to be announced later today.

The sale price of the unit will be $14.2 billion, with chairman Marcus Aguis noting that the value has increased from the initial figure of $13.5 billon after shares in BlackRock rose.

According to Bloomberg, he told investors at the AGM that the BlackRock offer is “compelling” adding that the move “allows Barclays to retain an ongoing interest in the potential upside from the larger combined business while unlocking significant capital in the short term”.

The deal was first agreed in June and will involved Barclays retaining a 19.9 per cent stake in BGI.

BlackRock to pay $13.5B for Barclays Global Investors

Money manager BlackRock will become the largest asset manager in the world with its acquisition of Barclays Global Investors. The deal will boost BlackRock’s assets under management to about $2.7 trillion. “This is a transformational transaction,” said BlackRock CEO Laurence Fink.

more at
business/industry_sectors/banking_and_finance/article6483638.ece”>http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article6483638.ece
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