Goldman CIO Service Suddenly Catches On in Japan After 10 Years
A second pension signed up in early 2025. Now about 10 more potential customers are in the pipeline, according to Kenro Tsutsumi, head of Goldman Sachs Asset Management Japan.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
23 minutes ago
- Yahoo
Prospera Funds Inc. Launches to Bridge Private Strategy Success with Public Market Access
New ETF platform led by industry veterans seeks to empower proven managers with institutional-quality distribution and execution. CHARLESTON, S.C., August 20, 2025--(BUSINESS WIRE)--Prospera Funds Inc., a newly formed asset management firm founded by veteran industry executive Michael Pierce, proudly announces its official launch, offering a full-service platform for launching and distributing actively managed ETFs. Prospera Funds was created with a singular mission: to bring the strategies of highly successful but often under-distributed public & private fund managers to a broader investment audience through actively managed ETFs. "We believe many of the best investment ideas in today's market aren't coming from Wall Street giants; they're sitting inside boutique shops, private funds, and family offices with limited distribution," said Michael Pierce, CEO of Prospera Funds Inc. "We aim to unlock that value, to empower exceptional managers with scalable public vehicles and the infrastructure to thrive." What Sets Prospera Funds Apart: Turnkey Infrastructure – Full integration with Thrive Series Trust for fund launches. Product Conversion Expertise – Proven operational track record of launching private fund strategies into publicly traded vehicles. Veteran Leadership – 100+ years of combined industry experience across portfolio management, operations, marketing, national accounts, and distribution. Dedicated Distribution Network – 18 seasoned wholesalers with deep national footprint. Sub-Advisor Enablement – Prospera provides the institutional and regulatory functions of the investment advisor, enabling seamless transitions for sub-advisors ready to go-to-market. Prospera is more than a traditional asset manager. It's a strategic platform built to partner with fund managers with strong performance but limited market access. By handling product structuring, compliance, fund operations, and distribution, Prospera enables its partners to focus on what they do best: investing. Prospera's funds will be distributed nationally through Maverick Fund Partners. Maverick has raised over $28 billion in AUM for boutique money managers since 2008 with its national network of RIAs, Independent Broker-Dealers & Wirehouses, such as UBS, Merrill Lynch, Wells Fargo & Morgan Stanley. "At Maverick, we specialize in helping innovative managers break through distribution barriers, and Prospera's mission aligns perfectly with that vision," said Jeff Robinson, Co-CEO of Maverick Fund Partners. "We're proud to support the launch of Prospera's funds and are excited to be their distribution partner." For inquiries, partnership discussions, or to join our distribution network, visit or contact info@ Disclosures There is no guarantee that the Fund will achieve its investment objective. An investment in the Fund involves a high degree of risk, including the potential loss of the entire investment. The Fund is subject to the risks of its underlying funds in addition to general economic and market conditions. The Fund and its service providers are subject to operational and cybersecurity risks. Past performance does not guarantee future results. ETFs are subject to market risk, including the loss of principal. Diversification does not guarantee protection against loss. Before investing, carefully consider the Fund's investment objectives, risks, charges, and expenses. This and other important information is contained in the Fund's Prospectus. Please read the prospectus carefully before investing. Securities offered through Vigilant Distributors, LLC, member of FINRA/ SIPC. This advertisement does not constitute an offer to sell, nor a solicitation of an offer to buy the securities described herein. View source version on Contacts Contact: Michael PiercePhone: 770-833-3405Email: Michael@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
23 minutes ago
- Yahoo
Estée Lauder Faces Tariff Costs, Profit Drop, But Projects Rebound In 2026
Estée Lauder Companies, Inc. (NYSE:EL) shares plummeted in the premarket session on Wednesday after the company reported fourth-quarter results. The company reported adjusted earnings per share of 9 cents, which is in line with the street view. Quarterly sales of $3.41 billion (down 12% year over year) outpaced the analyst consensus estimate of $3.397 care sales slumped 16% year over year, makeup fell 11%, fragrance grew 4%, and hair care decreased 15% on a reported basis in the quarter. In mainland China, the company gained prestige beauty share across all categories and channels in the fourth quarter, led by La Mer and TOM FORD, with full-year gains also driven by La Mer and Le Labo. In Japan, it captured share in every quarter of fiscal year 2025 and reinforced its #1 fragrance ranking in the fourth quarter through Le Labo, Jo Malone London, and KILIAN PARIS. In the U.S., share trends improved notably in the second half of fiscal year 2025, led by The Ordinary, Clinique, and Estée Lauder, though the fourth quarter saw a modest loss. Gross profit in the quarter under review fell 12% to $2.456 billion. Gross margin expanded to 72% from 71.8% in the year-ago period. Quarterly adjusted operating income slumped 61% year over year to $137 million. View more earnings on EL Estée Lauder said that this reflects the increase in consumer-facing investments, along with sales volume deleverage in fiscal 2025. The company exited the quarter with cash and equivalents worth $2.921 billion, lower than $3.395 billion in the year-ago period. The company announced a quarterly dividend of 35 cents per share on its Class A and Class B Common Stock, payable in cash on September 16. Outlook Based on current information and net of planned mitigation actions, Estée Laude expects tariff-related headwinds to impact fiscal 2026 profitability by approximately $100 million. 'Despite continued volatility in the external environment, we embarked on fiscal 2026 with signs of momentum and confidence in our outlook to deliver organic sales growth this year after three years of declines and to begin rebuilding operating profitability in pursuit of a solid double-digit adjusted operating margin over the next few years,' said CEO Stéphane de La Faverie. The company has provided its financial outlook for fiscal year 2026, projecting EPS to range between $1.90 and $2.10, well above the analyst consensus estimate of $1.48. The company expects sales to reach between $14.613 billion and $15.042 billion, surpassing the analyst forecast of $14.321 billion. In its fiscal 2026 guidance, Estée Lauder has reflected several key assumptions. The company anticipates global prestige beauty growth to fall between 2% and 3%. Additionally, Estée Lauder plans to implement stricter inventory controls and a substantial reduction in discounts to better align retail and net sales growth. In terms of regional performance, Estée Lauder is forecasting mid-single-digit growth in mainland China, signaling early signs of market stabilization. The company also expects a modest recovery in its global travel retail business, particularly in the first half of fiscal 2026, driven by improved shipment levels in Asia travel retail. However, the company cautions that volatility in this sector, including weak conversion rates, could temper overall performance. Excluding mainland China, Estée Lauder is projecting low-single-digit growth in most other markets, with year-over-year growth rates improving compared to fiscal 2025. For the first quarter of fiscal 2026, the company expects a low-single-digit decline to slightly positive growth, driven by strong results in global travel retail and solid performance in mainland China. These gains are expected to offset more moderate declines in other areas of the business. Price Action: EL shares are trading lower by 8.17% to $82.53 premarket at last check Wednesday. Read Next:Image via Shutterstock UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? ESTEE LAUDER COS (EL): Free Stock Analysis Report This article Estée Lauder Faces Tariff Costs, Profit Drop, But Projects Rebound In 2026 originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
23 minutes ago
- Yahoo
Intel Gets $2 Billion Lifeline From SoftBank Amid Turnaround Effort
This article first appeared on GuruFocus. Intel (INTC, Financials) is receiving a $2 billion equity investment from SoftBank, giving the Japanese firm a nearly 2% stake and making it Intel's sixth-largest shareholder, according to LSEG data. Warning! GuruFocus has detected 10 Warning Signs with INTC. SoftBank will pay $23 per share, a slight discount to Intel's Monday close of $23.66. Intel shares jumped about 7% Tuesday following the news, while SoftBank fell 4%. The investment will come via a primary issuance of common stock. SoftBank said the deal reflects its belief in the expansion of U.S. semiconductor manufacturing, with Intel expected to play a critical role. CEO Masayoshi Son previously held talks with Intel about acquiring its foundry unit, according to the Financial Times. Intel has faced rising challenges in recent years, posting a full-year loss of $18.8 billion in 2024 its first since 1986. It continues to lose share to Advanced Micro Devices (AMD, Financials) in PCs and server chips. Efforts to build a foundry business to rival Taiwan Semiconductor Manufacturing Co. have struggled to gain traction. The funding is not tied to Tokyo's recent $550 billion U.S. investment pledge or directly to President Donald Trump, though the deal comes shortly after a reported meeting between Trump and Intel CEO Lip-Bu Tan. The U.S. government is also reportedly considering taking a 10% stake in Intel. SoftBank's decision to invest in Intel is not contingent on buying Intel chips or joining its board, according to a person familiar with the matter. Intel CEO Tan, a former SoftBank board member, thanked Son for his vote of confidence. The deal adds to SoftBank's run of high-profile 2025 investments, including a $30 billion commitment to OpenAI and a $500 billion datacenter project called Stargate. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
