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The Star Says

Towards building a stronger capital market

TO the man in the street, the measures announced on Monday to further liberalise the capital market may seem like remote policy decisions. He perhaps feels that these moves involving credit rating agencies and unit trust management companies have little to do with him.


Standard Life in advanced talks to buy Phoenix asset management unit for US$660mil

LONDON: British life insurance and pensions group Standard Life has announced it is in "exclusive and advanced" talks to buy rival Phoenix Group Holdings' Ignis Asset Management.


BlackRock, which recently pulled some funds from M'sia, saw profits jump and shares gain

NEW YORK: BlackRock Inc, the world's largest money manager, reported a higher-than-expected quarterly profit on Thursday, benefiting from strong markets and a flow of new money into its exchange-traded funds and retail business.


Local investors help SE Asia markets cope with outflow

Domestic investors are becoming bigger players in South-East Asian stock markets, thanks to active state-owned funds and rising wealth, helping the region's markets cope with the kind of foreign outflows they've had this year.


Asean CIS Framework to facilitate cross-border investment

COME next year, investors in Malaysia will have an even wider choice of investment selections and greater access to regional schemes, while fund managers from the country is expected to have easier access to two key markets in the region, namely Singapore and Thailand.


India wants more people to buy shares

MUMBAI/NEW DELHI: A year ago, S. Kashinath, an illiterate laborer from India's southern Tamil Nadu state, lost 300,000 rupees ($5,600) in savings he invested in a pyramid scheme promising high returns from emu farming.


China to open mutual fund biz

SHANGHAI: China plans to allow foreign banks to act as custodians in its US$380bil mutual fund industry for the first time, the latest move amid a raft of government reforms that seek to develop the countrys financial system.


Insight: Fidelity's expensive debt raises eyebrows

BOSTON (Reuters) - Fidelity Investments gives a select group of employees an unusual perk. It lets them make unsecured loans to the company at annual interest rates that have paid them nearly 20 percent in recent years.


Legg Mason's Miller to step down from main fund

NEW YORK (Reuters) - Bill Miller, a star mutual fund stock-picker who posted a 15-year-long winning streak before losing his touch as the financial crisis hit, will step down from his flagship fund at Legg Mason Inc in April.


Big investors moving away from stocks into gold and bonds

NEW YORK: The smart money has moved away from stocks. So is the era of stock investing over?