real estate asset management firms
As confidence in the economy and financial markets improves, the pace of corporate operations accelerates. Recently, information technology companies consulting Affiliated Computer Services (ACS) and Perot Systems (PER) received bids for 6.7 billion U.S. dollars and 3.9 million respectively.
The pace of initial public offerings is also increasing. Companies have raised more than $ 11 billion through IPOs earlier this month. The Spanish bank Grupo Santander (ES: SAN) sold a stake of 16% in Banco Santander Brasil (BSBR) to raise a whopping $ 8 million dollars. The actuarial data provider Verisk Analytics (VRSK) raised 1.9 billion U.S. dollars through an initial public offering.
Large Corporations financial services are taking advantage of strong capital markets and busy shedding its asset management business.
Barclays (BCS) began sales trend of Barclays Global Investors to BlackRock by 13.5 billion U.S. dollars in June.
In the third quarter, Bank of America (BAC) sold most part of Columbia Management for $ 1 billion. Citigroup (C) sold its stake in Nikko Asset Management and Lincoln National (LNC) Delaware Investments sold.
In Europe, the former Julius Baer (JBHGY.PK) separately from its asset management business to form Holdings GAM.
Additional operations in the pipeline with Morgan Stanley (MS) reported looking to get rid of Van Kampen fund.
Therefore, diversifying financial institutions right into the sale of management companies assets?
A rising stock market along with increasing capital market activity is often good for asset management companies. While some diversified financial companies have been forced to sell these businesses to losses in other lines, others have mentioned the need to focus on strengths.
Only time will tell whether the timing of these sales is indeed timely. If stock prices continue to rise and volatility continues to fall, dealers also may regret the decision to dispose of the asset management companies.
Sam Subramanian PhD, MBA edits the AlphaProfit Sector Investors’ Newsletter, ten times winner of Hulbert Financial’s #1 rank. The investment newsletter offers recommendations on ishares ETFs, SPDRs, and Vanguard ETFs
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