Latest news with #CapitalGroup
Hamilton Spectator
3 days ago
- Business
- Hamilton Spectator
S&P/TSX composite slides on Friday but caps off month near record highs
Canada's main stock index on Friday continued to trim the gains that pushed it to a record closing high two days earlier, as investors retreated to defensive stocks while energy and information technology took a hit. 'It's been another roller-coaster day in markets, capping off generally strong equity index returns for the month,' said Kathrin Forrest, equity investment director at Capital Group. The S&P/TSX composite index inched down 35.51 points to 26,175.05. In New York, the Dow Jones industrial average rose 54.34 points to 42,270.07. The S&P 500 index slipped 0.48 points to 5,911.69, while the Nasdaq dipped 62.11 points to 19,113.77 — but both logged their biggest monthly percentage gains since November 2023. Investors in the U.S. shored up their stakes in telecom companies, utilities and consumer staples and shied away from resource and IT firms. 'We see the same defensive bias there,' Forrest said of Canada. 'Uncertainty is clearly one of the recurring, underlying themes. And with that you see some volatility' — in energy due to supply concerns and in tech thanks to U.S.-China trade tensions — she said. 'Staples you generally would expect to hold up better in times when there's some uncertainty around.' The S&P/TSX achieved its third-highest close ever on Friday, in spite of ongoing anxiety over the tariff war. 'Overall, we have continued to see relatively strong underlying economic data,' Forrest said. 'Despite all the headlines and the concerns around trade and uncertainty in that regard, the underlying fundamental data, in particular in the U.S., has largely held up well.' This week and month on Wall Street have been dominated by questions about what will happen with Trump's tariffs, which investors worry could grind the economy into a recession, slash companies' profits and pile even more challenges on households already dealing with the high cost of living. Hopes had largely been rising that the worst of such worries had passed, which in turn sent stocks rallying, after Trump paused his tariffs on both China and the European Union. A U.S. court then on Wednesday blocked many of Trump's sweeping tariffs. That allowed the S&P 500 to notch its first winning month in four and its best in a year and a half. But the tariffs remain in place for now while the White House appeals the ruling by the U.S. Court of International Trade, and the ultimate outcome is still uncertain. Trump also briefly shook markets shortly before Wall Street opened for trading Friday, when he accused China of not living up to its end of the agreement that paused their tariffs against each other. On Bay Street, investors will be watching whether the Bank of Canada will cut interest rates on Wednesday. 'Currently the market is pricing a 20 per cent chance of a cut. That is down from a 67 per cent chance just two weeks ago,' Forrest said. The shift stems from a surprising 2.2 per cent annualized rise in economic output in the first quarter of 2025 that Statistics Canada reported Friday, up a tick from 2.1 per cent in the fourth quarter. Market watchers will also be on the lockout for national employment figures slated to drop on June 6. The Canadian dollar traded for 72.68 cents US compared with 72.43 cents US on Thursday. The July crude oil contract was down 15 cents US at US$60.79 per barrel and the July natural gas contract was down seven cents US at US$3.45 per mmBTU. The August gold contract was down US$28.50 at US$3,315.40 an ounce and the July copper contract was flat at US$4.68 a pound. — With files from The Associated Press This report by The Canadian Press was first published May 30, 2025. Companies in this story: (TSX:GSPTSE, TSX:CADUSD)
Business Wire
7 days ago
- Business
- Business Wire
Senior Partners from CVC and Capital Group and Former NYC Commissioner of Health join One Mind Board of Directors
RUTHERFORD, Calif.--(BUSINESS WIRE)-- One Mind ™, a leading mental health and brain research nonprofit, has announced the addition of three seasoned executives and investors, Brad Freer, Katharina Koenig, and Ashwin Vasan, to the organization's board of directors, effective immediately. As board members, Brad Freer, Katharina Koenig, and Ashwin Vasan will provide valuable insights and perspective towards the strategy of One Mind's multitude of initiatives. Bradford F. Freer is an equity portfolio manager at Capital Group. Brad has 31 years of investment industry experience and has been with Capital Group for 30 years. Earlier in his career at Capital, he was an equity investment analyst covering multiple sectors as a generalist in both Australia and India. Before that he was an equities trader in both Singapore and Hong Kong. He holds a bachelor's degree in international relations from Connecticut College, as well as the Chartered Financial Analyst® designation. 'I am both humbled and excited to join the One Mind board. At both Capital Group and One Mind, I see a shared commitment to tackling big challenges by investing in empowered, innovative individuals and fostering collaboration. This approach leads to meaningful insights and impactful solutions. One Mind's effort to support entrepreneurs, scientists, and organizations working to improve mental health outcomes is an incredibly important mission I look forward to supporting.' Katharina Koenig joined CVC in 2023 as Chief People Officer and is based in London. Prior to CVC, she worked for over twenty years at Goldman Sachs in Hong Kong and London. A long time champion for mental health, Katharina served on the Advisory Board for the Columbia – WHO Center for Global Mental Health for over a decade, completing her tenure of service in 2023. Katharina holds a Bachelor of Science in Business Administration and a Master of Science in Communication from Boston University. "I am truly delighted to be joining the One Mind board and to help drive its important mission. Over the past 15+ years, I've had the privilege of working closely with Kathy Pike through our shared commitments to the Asian University for Women Support Foundation and the Columbia University Global Mental Health Program. This lifelong journey of collaboration and purpose now continues with One Mind, and I look forward to advancing its visionary work to transform mental health globally." Dr. Ashwin Vasan, MD, PhD is a nationally recognized physician, epidemiologist, and health policy expert who served as New York City's Health Commissioner from 2021 to 2024, leading the city's COVID-19 recovery and launching HealthyNYC, a data-driven initiative to raise life expectancy. His tenure was defined by bold efforts in mental health, reproductive care, overdose prevention, and healthcare affordability—including forgiving $2 billion in medical debt and creating NYC's first Office of Healthcare Accountability. A leader in public-private partnerships, he advanced digital mental health services like NYC TeenSpace, expanded care for people with severe mental illness, and strengthened public health workforce wellness. Previously, he led Fountain House, a national mental health nonprofit, and began his career expanding AIDS treatment globally with Partners In Health and the WHO. He advises elected officials and institutions including the Milken Institute and Columbia University, and holds degrees from UCLA, Harvard, the University of Michigan, and the London School of Hygiene and Tropical Medicine. 'Mental health is the most significant health crisis of our time, and one that knows no bounds and respects no divisions. We all have and are impacted by mental health, and so it requires all of us to marshal a response, to ensure that no one suffers in silence, without the community and care that they need. For decades, One Mind has brought together leading researchers and scholars, practitioners and advocates, toward a whole-of-society approach to brain health and mental wellbeing, grounded in science and in lived experience. I'm proud to join their efforts and to advance One Mind's work as a member of the Board.' Also sitting on One Mind's Board of Directors are Caryl Athanasiu, Tanisha Carino, PhD, Russ Deyo, Donna Friedman, Chela Gage, Gary Gottlieb, MD, MBA, The Honorable Patrick J. Kennedy, Christopher Lyle, Robina Riccitiello, Harvey Schwartz, Garen Staglin (Chairman), Shari Staglin, Martha R. Temple, Gordon Watson, Gwill York, and Matthew Zubrow. 'As we celebrate One Mind's 31 st year, the strength of our Board of Directors has never been more important as we advance our leadership in research, innovation and workplace mental health. We are delighted to welcome Brad, Katharina, and Ashwin to the One Mind board,' said Garen Staglin, Co-Founder and Chairman of One Mind. 'Their deep expertise in venture capital, workplace wellness, and health policy comes at a critical time—when advancing research and scalable solutions is more urgent than ever. We believe we are at an inflection moment for mental health innovation and their leadership will strengthen our ability to drive global impact and expand philanthropic support for brain health.' The new members have already begun their work to support One Mind's mission and drive meaningful change. Most recently, Dr. Ashwin Vasan delivered the keynote speech at the 9th Annual One Mind at Work Global Forum, which took place on May 12-14, 2025 at The Archer Hotel in Napa, CA. The One Mind at Work Global Forum is the premier event for those committed to advancing mental health in the workplace. The One Mind at Work members-only event brings together CEOs, HR leaders, and mental health experts from around the world to discuss the latest research, share best practices, and develop strategies to improve mental health at work. If you are interested in learning more about One Mind at Work membership, please get in touch for more information. About One Mind™ One Mind is at the forefront of a transformative movement in mental health, delivering innovative solutions to address critical gaps in mental health research, care, workplace wellness, and public perception. Guided by science and lived experience, we fund groundbreaking research, accelerate innovation, enhance workplace wellness, and engage the public to reshape mental health care and awareness. With science as our cornerstone, and people at the heart of what we do, our programs are setting new standards for effective interventions and redefining the future of mental health.
Cision Canada
21-05-2025
- Business
- Cision Canada
Capital Group Canada Appoints Two New Executives to Key Leadership Roles Français
Shim brings nearly 25 years of experience in both institutional and retail asset management to her new position. Most recently, she served as vice president of corporate initiatives for Guardian Capital Group. She holds a master of finance degree and a bachelor's degree in commerce from the University of Toronto and is a CFA charterholder. Tuira joins Capital Group with over 20 years of experience, having most recently led Invesco Canada's Institutional Distribution business, where he oversaw sales, client servicing and consultant relations across Canada. He holds a bachelor's degree in commerce with a minor in economics from McMaster University and holds the CFA and CAIA charters. "Angela's extensive experience in both retail and institutional product strategy, management and development, combined with Mike's experience and network across the Canadian institutional market, will be incredibly valuable as we aim to become the partner of choice for our clients, offering a comprehensive suite of investment solutions to assist them in achieving their investment objectives amid an evolving industry landscape," said Rick Headrick, president of Capital Group Canada. Capital Group manages portfolios using a distinctive investing approach, The Capital System™, which combines independent decisions with collaboration and diverse perspectives. It seeks to deliver long-term results across market cycles with less volatility. In Canada, the Capital Group organization's institutional investment strategies are offered as separate accounts and are used by a variety of corporations (for defined benefit plans) and public funds as well as endowments, foundations and other institutional investors. Capital Group's Canadian mutual funds are also offered for use in defined contribution plans. Both Shim and Tuira will be based in Capital Group's Toronto office. About Capital Group Capital International Asset Management (Canada), Inc. is part of Capital Group, a global investment management firm originating in Los Angeles, California. Since 1931, the Capital Group organization has been singularly focused on delivering superior results for long-term investors using high-conviction portfolios, rigorous research and individual accountability. As of March 31, 2025, Capital Group manages approximately US$2.8 trillion in equity and fixed income assets for millions of individual and institutional investors around the world. Capital Group manages equity assets through three investment groups. These groups make investment and proxy voting decisions independently. Fixed income investment professionals provide fixed income research and investment management across the Capital Group organization; however, for securities with equity characteristics, they act solely on behalf of one of the three equity investment groups.
Yahoo
21-05-2025
- Business
- Yahoo
Capital Group Canada Appoints Two New Executives to Key Leadership Roles
Angela Shim to lead Product Strategy and Development Mike Tuira to lead Institutional Business TORONTO, May 21, 2025 /CNW/ - Capital Group announced the appointment of two new executives to serve the growing needs of its clients across Canada. Angela Shim will be head of product strategy and development and will be a key member of the Canadian executive leadership team. Mike Tuira will take on the role of vice president, institutional, leading the organization's client services, business development and consultant relations initiatives across Canada. Shim brings nearly 25 years of experience in both institutional and retail asset management to her new position. Most recently, she served as vice president of corporate initiatives for Guardian Capital Group. She holds a master of finance degree and a bachelor's degree in commerce from the University of Toronto and is a CFA charterholder. Tuira joins Capital Group with over 20 years of experience, having most recently led Invesco Canada's Institutional Distribution business, where he oversaw sales, client servicing and consultant relations across Canada. He holds a bachelor's degree in commerce with a minor in economics from McMaster University and holds the CFA and CAIA charters. "Angela's extensive experience in both retail and institutional product strategy, management and development, combined with Mike's experience and network across the Canadian institutional market, will be incredibly valuable as we aim to become the partner of choice for our clients, offering a comprehensive suite of investment solutions to assist them in achieving their investment objectives amid an evolving industry landscape," said Rick Headrick, president of Capital Group Canada. Capital Group manages portfolios using a distinctive investing approach, The Capital System™, which combines independent decisions with collaboration and diverse perspectives. It seeks to deliver long-term results across market cycles with less volatility. In Canada, the Capital Group organization's institutional investment strategies are offered as separate accounts and are used by a variety of corporations (for defined benefit plans) and public funds as well as endowments, foundations and other institutional investors. Capital Group's Canadian mutual funds are also offered for use in defined contribution plans. Both Shim and Tuira will be based in Capital Group's Toronto office. About Capital Group Capital International Asset Management (Canada), Inc. is part of Capital Group, a global investment management firm originating in Los Angeles, California. Since 1931, the Capital Group organization has been singularly focused on delivering superior results for long-term investors using high-conviction portfolios, rigorous research and individual accountability. As of March 31, 2025, Capital Group manages approximately US$2.8 trillion in equity and fixed income assets for millions of individual and institutional investors around the world. Capital Group manages equity assets through three investment groups. These groups make investment and proxy voting decisions independently. Fixed income investment professionals provide fixed income research and investment management across the Capital Group organization; however, for securities with equity characteristics, they act solely on behalf of one of the three equity investment groups. For more information, visit: SOURCE Capital Group Canada View original content to download multimedia:
Time of India
21-05-2025
- Automotive
- Time of India
Belrise Industries mobilises ₹645 crore from anchor investors ahead of IPO
Automotive components maker Belrise Industries on Tuesday said it has garnered ₹645 crore from anchor investors a day ahead of its initial share-sale opening for public subscription . BlackRock, Capital Group, ICICI Prudential Mutual Fund (MF), HDFC MF, Nippon India MF, M&G (Prudential), Pinebridge, ValueQuest, and Bajaj Allianz Life are among the investors who participated in the anchor round, according to a circular uploaded on BSE website. As per the circular, the company allocated 7.16 crore equity shares at ₹90 apiece, which is also the upper end of the price band, to 27 funds. The ₹2,150 crore IPO is entirely a fresh issue of equity shares with no Offer For Sale (OFS) component, according to the Red Herring Prospectus (DRHP). The issue, with a price band of ₹85-90 per share, will open for public subscription on May 21 and conclude on May 23. Going by the prospectus, the company intends to utilise proceeds worth ₹1,618 crore for the payment of debt. The company had borrowings of close to ₹2,600 crore in its books as of December 2024. Belrise Industries is an automotive components manufacturing company based in India, offering a diverse range of safety-critical systems and other engineering solutions for two-wheelers, three-wheelers, four-wheelers, commercial vehicles and agri-vehicles. It marketed its products both domestically and internationally, with operations extending to several markets including Austria, Slovakia, the UK, Japan and Thailand. The company has a long-standing relationship with customers, including prominent multinational OEMs such as Bajaj Auto, Honda Motorcycle & Scooter India, Hero MotoCorp, Jaguar Land Rover and Royal Enfield Motors. It has 17 manufacturing facilities across 10 states as of December 2024. On the financial front, the company's revenue from operations rose 13.7 per cent to ₹7,484. 24 crore for the financial Year 2024 from ₹6,582.50 crore for the preceding financial year, and profit after tax was at ₹310.88 crore for the financial Year 2024 from ₹313.66 crore in the previous fiscal. Half of the issue size has been reserved for qualified institutional buyers, 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors. Investors can bid for a minimum of 166 shares and in multiples of 166 shares thereafter. Axis Capital, HSBC Securities and Capital Markets (India) Private Ltd, Jefferies India and SBI Capital Markets are the book-running lead managers to the issue.
