Latest news with #PrivateWealth
Yahoo
4 days ago
- Business
- Yahoo
Gas prices pulling back: What to expect for the rest of 2025
A drop in crude oil (CL=F, BZ=F) prices is driving gas prices lower. Rebecca Babin, CIBC Private Wealth senior energy trader, breaks down what's behind these moves and where oil and gas prices could go from here. To watch more expert insights and analysis on the latest market action, check out more Market Domination. A sharp drop in energy prices is driving lower gas prices and that's helping keep a lid on headline inflation. In July's Consumer Price Index, the gas index fell 2.2% from the prior month helping pull the overall monthly headline number lower. For more, we're bringing in Rebecca Babin, Senior Energy Trader at CIBC Private Wealth. So Rebecca, let's start there. How much of this pullback in gas prices is driven by seasonal trends versus maybe broader shifts in the crude market? And do you expect this relief to last for consumers? So that's a great question, Allie. And I would say most of this pullback in gasoline prices has not been seasonal. Um seasonally, they adjust those numbers in the CPI. This has been much more structural and the structural change that's taken place for gasoline has really been the drop in crude oil prices. If we look at on a year-over-year basis, crude oil is down 15%, gasoline prices year over year are down around nine. So basically the inputs or the crude that goes into the refiners to make gasoline has really been under pressure because OPEC has been bringing back a lot of supply over the last six months and really compressing crude prices lower, combined with the fact that the economy is in question as we kind of move along this tariff journey and understanding what's happening with demand. So we have this kind of increase in supply coming from crude oil and concerns about demands. We've had a really big kind of pressure on the commodity price. Refining margins, interestingly, have actually held up really well. Thus the 9% drop in gasoline versus 15% in crude, and that's actually because we have had product inventories in gasoline really low. Venezuelan products have been off the market, we had wildfires in Canada, which hurt some products. So the product market, the refining margins have been okay. All of that kind of compression and price has come from crude oil itself falling lower. Interesting. So given all those structural changes, where do you see crude heading toward the year end? Are prices skewed to the downside? So the market is very much in consensus that the risk is to the downside from here. And it kind of plays into everything I kind of touched on. More supply coming from OPEC, more supply coming from non-OPEC. The EIA just released their monthly report and increased the non-OPEC supply for the year from the US, from Brazil. Um and then you have the OPEC supply as well. And demand, which is expected to kind of taper off here in the second half as tariffs start to bite. So consensus is that we gravitate down to kind of the mid to high 50s in WTI for the end of the year. My view is I actually think that's a little bit too negative and very much kind of telegraphed at this point. Um so I think we could kind of stay in this, let's call it 60 to 75 range. 60 being kind of that downside, lower end of the risk kind of spectrum, just because I'm looking at positioning, I'm looking at how many CTAs and systematic funds are starting to lean very short. The options market is starting to show you that puts are getting much more expensive than call options, which tells you that people are actively hedging that downside. So a little bit of this is starting to get priced in. So that's kind of, I like this 60 to 75 range. Um and I think the upside is bound by the fact that we do have a lot of supply that kind of sits on the sidelines in Saudi Arabia, in the UAE, um that kind of buffers a potential supply shock. Now, if we lose, you know, Russian barrels, and Friday is obviously a huge event, um for the oil market in terms of what happens with the Putin-Trump meeting and if Trump decides to move forward with either sanctions on the shadow fleet or tariffs, you know, that could change the picture pretty dramatically. I think the upside is buffered by that spare capacity.
Yahoo
05-08-2025
- Business
- Yahoo
Sterlington Welcomes Leading Private Wealth Team from Morgan Lewis
NEW YORK, August 05, 2025--(BUSINESS WIRE)--Sterlington is pleased to announce the addition of a premier Private Wealth team, including partners Daniel Cooper, Emalee Welsh, and Daniel Carmody, who join the firm from Morgan Lewis. The arrival of this team significantly enhances Sterlington's capabilities in advising ultra-high-net-worth (UHNW) individuals, family offices, and closely held businesses on estate planning, wealth transfer, tax strategy, and business succession. Additional team members are expected to join in the coming weeks. Daniel Cooper, who now heads Sterlington's Private Wealth practice, is known for his deep experience advising clients on wealth preservation, estate and gift tax planning, family business succession, and philanthropy. He is recognized by the Chambers High Net Worth Guide for Private Wealth Law in Pennsylvania. Emalee Welsh, deputy head of the Private Wealth practice, designs and implements sophisticated wealth transfer plans for UHNW individuals, owners of privately held businesses, entrepreneurs, and multigenerational family groups. She counsels clients on estate, gift, GST, and income tax planning, trust and estate administration, and charitable giving. Daniel Carmody advises clients on complex tax matters related to domestic and international transactions, with a particular focus on structuring partnerships, limited liability companies, and Subchapter S corporations. He also represents clients in audits and appeals before the IRS and brings valuable experience from senior roles within the IRS Office of Chief Counsel and PwC's National Tax Services group. "We joined Sterlington because of its high-caliber partners, top tier associate talent, and the kind of sophisticated private client work that fits naturally with our practice," said Cooper. "There's strong synergy with the firm's focus on HNWIs and a shared commitment to delivering first class, commercially strategic advice." The team is based in Sterlington's new Philadelphia office and will also make use of Sterlington's New York office to serve clients across both regions. "The addition of this Private Wealth team strengthens our offering to the firm's HNWI and family office client base, which is a key focus for Sterlington," said Christopher Harrison, head of Sterlington's Corporate and M&A practice. "We're delighted they are joining us at a time of exceptional growth, as we continue to expand our capabilities. Their practice is exceptionally synergistic with the firm's practices involving founders, senior executives, UHNW individuals and their businesses." The Private Wealth team is the latest in a series of high-profile hires by Sterlington, which continues to attract leading talent across disciplines. Recent arrivals include Kristy Fields in executive compensation who was a partner at Simpson Thacher; Paul Jebely, a Chambers band 1 global private aviation attorney; Jonathan Sherman and Courtney Rockett, highly regarded litigators who were longtime partners at Boies Schiller Flexner; Lawrence Waks, a top advisor to global brands and celebrity-backed ventures and former Reed Smith partner; and Jesse Sherrett in international arbitration and litigation who was a partner at A&O Shearman. About Sterlington Sterlington PLLC is a full service law firm focusing on complex corporate, litigation, executive compensation, and private wealth matters. As a firm, we focus on the economic as well as the legal aspects of our matters. Among other strengths, Sterlington is the ultimate law firm for private capital, family offices, founders, and senior executives, as well as their related businesses. We provide generous compensation to our equity partners, and empower partners to serve clients in a dynamic, collaborative environment of like-minded, ambitious professionals, with top tier associate and white glove professional support. We want partners to come to a place where they feel connected, feel supported, and can grow their business. Visit us at View source version on Contacts Media InquiriesKate QuinceHead of Marketing and 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
25-07-2025
- Business
- Yahoo
Ledn launches Bitcoin Private Wealth Program for high net-worth clients
Ledn launches Bitcoin Private Wealth Program for high net-worth clients originally appeared on TheStreet. Bitcoin lending firm Ledn has launched its Private Wealth program, targeting high-net-worth individuals, institutions, and corporates seeking to borrow against their Bitcoin holdings for a long term. The program, designed for clients with at least $250,000 in active loans, aims to create a more formalized way to receive personalized service that has historically been provided informally. Some of the benefits include faster processing of funds, relationship managers, and discount loan rates for loans exceeding $1 million. Clients will also have access to loan rebalancing and events hosted by Ledn's executive team. The move indicates that an increasing number of crypto investors are employing techniques like Strategy's, which involve borrowing against Bitcoin to obtain funds without selling their coins. Ledn stated that last year it processed $2.4 billion in loans, as more people sought flexible, Bitcoin-backed financing."Clients are using these loans for things like real estate or business investment while keeping Bitcoin exposure," said Ledn co-founder Mauricio Di Bartolomeo. 'The Private Wealth program gives them the tools, speed, and trust to operate at scale.' The move from Ledn comes at a time when traditional banks, such as JPMorgan, are exploring crypto-collateralized lending. Unlike previous competitors, Ledn says it has spent the last few years establishing the necessary infrastructure around risk management and custody in this space. The company also emphasized its commitment to transparency, citing its monthly Open Book Reports and a proof-of-reserves process that a public accounting firm had audited. Ledn launches Bitcoin Private Wealth Program for high net-worth clients first appeared on TheStreet on Jul 25, 2025 This story was originally reported by TheStreet on Jul 25, 2025, where it first appeared. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Time of India
22-07-2025
- Business
- Time of India
FPI flows inconsistent as India's valuation premium hits 80% over MSCI EM: Anuj Kapoor
In this edition of ETMarkets Smart Talk, Anuj Kapoor, MD & CEO, Private Wealth, JM Financial Services Ltd, shares insights on the current state of Indian equity markets and the factors influencing foreign portfolio investor ( FPI ) behaviour. Highlighting that India's valuation premium has surged to over 80% compared to the MSCI Emerging Markets Index—well above historical averages—Kapoor explains why FPIs remain cautious despite India's strong long-term growth story. He also discusses sectoral trends, earnings outlook , and the growing role of domestic investors in supporting market stability . Edited Excerpts - Markets are struggling in the first month of 2H2025. What is limiting the upside? A) For the last 4 consecutive months, Nifty has closed on a positive note MoM. However, July has been trailing negative so far. Explore courses from Top Institutes in Select a Course Category Healthcare Artificial Intelligence Finance Public Policy MCA CXO Design Thinking Data Science healthcare Project Management Operations Management Data Science Data Analytics Digital Marketing MBA Product Management PGDM Cybersecurity others Leadership Others Technology Degree Management Skills you'll gain: Financial Analysis in Healthcare Financial Management & Investing Strategic Management in Healthcare Process Design & Analysis Duration: 12 Weeks Indian School of Business Certificate Program in Healthcare Management Starts on Jun 13, 2024 Get Details From the lows seen in early April, Nifty has made a sharp recovery of about 14-15%, only about 5% down from the highs seen in late September last year (likewise movement in broader indices as well). The earnings growth slowdown and geopolitical uncertainties have been the primary factors to the market's volatility. After a muted FY25, earnings are likely to grow at a healthy 12-13% over the next 2 financial years. In fact, during June, upgrades were seen in Nifty's FY26 and FY27 EPS estimates for the first time in the last 12 months. In the very near-term, market may respond to a variety of factors. In the medium to long term, it will follow earnings growth and valuations. Indian markets are reasonably positioned supported by healthy earnings growth. While valuations are slightly higher than long term averages, justified considering the low cost of capital and robust domestic flows. However, caution needs to be exercised as there may be certain pockets of exuberance, where built in valuations expectations are high. As global players eye India's wealth market and domestic competition intensifies, what do you think will differentiate winners in this space? A) In businesses with high growth potential, competition is usually high. Market players need to present a differentiated proposition to have a right to win. Some of the differentiating factors for JM wealth are: • A forward-looking 50+ year legacy built on clients' trust • Ability to offer onshore and global solutions with seamless execution • Delivering holistic solutions beyond investment management such as estate/legacy planning and aligning wealth planning with immigration decisions, etc. • Advantages of being an integrated institution by managing clients throughout their lifecycle- addressing needs across capital raising, M&A, financing and wealth etc. • Penetration across Tier-2/ Tier-3 cities, the relatively underserved, yet emerging hotspots of wealth creation • Retain as well as engage the right talent by offering a stable environment, strong culture and compensation linked to long term wealth creation Q) The June quarter season has just begun – how do you see India Inc. faring in this quarter? Which sectors should investors watch out for? A) After a spell of muted quarterly earnings, Indian Inc. is expected to deliver healthy numbers in this quarter. The Nifty50 earnings are likely to be in low double digits YoY. However, if we exclude financials, the earnings may likely improve to mid-teens. Sectors to watch out for: Cement, Consumer Retail, Telecom and Infra are likely to be high performers. Auto, Lending Financial institutions, Consumer Durables and Utilities could be laggards Q) Everyone says it is a stock pickers market now and the day of making easy money is over. What are your views? A) After a sustained outperformance by stock markets over past 4-5 years, valuations, are generally high across the market, more so in the Mid & Small Caps. There are limited avenues with potential of valuation rerating. Unless there is another massive uptick in the earnings cycle (like the one observed post COVID), the market performance at a broader level is expected to be moderate. In this market environment, there are limited opportunities for alpha generation. However, there are opportunities for stock specific picks and contrarian bets. We follow a mix of a beta and alpha approach, wherein we manage beta with diversified strategies and look for alpha generating opportunities with bottom up managers (boutique as well as contrarian) Q) SIP crossed Rs 27000 Cr for the first time in June. What is boosting the momentum? A) Strong domestic flows through SIPs have become a main feature of Indian markets, providing stability and resilience when FPI flows have been patchy. A low-interest rate environment resulting in a lack of alternative investment avenues, unfavourable taxation on debt instruments and strong performance of equity markets in the past few years has resulted in financialization of incomes and growing equity culture amongst Indian savers, thereby boosting momentum in SIPs. Q) FIIs are still not back in India completely – is it valuations or earnings which are proving to be headwinds? A) After a blip in FY25, Indian corporate earnings growth (represented by Nifty 50) is likely to improve. The consensus estimates are pointing towards ~13% CAGR over the next 2 years. While this looks healthy, there are other markets globally that could also experience a robust earnings growth over the next 2 years. On valuations, MSCI India trades at around a 24x PE forward, which is over an 80% premium to the broader MSCI EM index. Though, India generally has traded at premium to MSCI EM, the current premium is considered even higher than its historical averages (~60% over last 10 years). In our view, the long-term India story remains intact however the relative attractiveness of other markets, especially EMs is leading to inconsistent FPI flows. Q) Which sectors are likely to drive momentum in the 2H2025? A) Looking at the global uncertainties around tariffs, wars, interest rates, etc, domestic facing players are likely to be in focus in the near term. Markets are likely to be earnings driven. The following sectors with their near-term triggers are likely to be in momentum for next few quarters: - Cement on the back of improving profitability and decent volume growth, - Oil & Gas, especially OMCs with improving marketing margins - Telecom on the back of ARPU improvement, upgrades to 5G, etc. Q) Any sector(s) which you think is overheated? A) Some sectors like EMS, Defence and Mid Cap IT have very high growth expectations built into their current valuations. These valuations could get questioned on way forward as there is little scope for disappointment in earnings.
Economic Times
22-07-2025
- Business
- Economic Times
FPI flows inconsistent as India's valuation premium hits 80% over MSCI EM: Anuj Kapoor
Agencies These valuations could get questioned on way forward as there is little scope for disappointment in earnings. In this edition of ETMarkets Smart Talk, Anuj Kapoor, MD & CEO, Private Wealth, JM Financial Services Ltd, shares insights on the current state of Indian equity markets and the factors influencing foreign portfolio investor (FPI) that India's valuation premium has surged to over 80% compared to the MSCI Emerging Markets Index—well above historical averages—Kapoor explains why FPIs remain cautious despite India's strong long-term growth story. He also discusses sectoral trends, earnings outlook, and the growing role of domestic investors in supporting market stability. Edited Excerpts - Markets are struggling in the first month of 2H2025. What is limiting the upside? A) For the last 4 consecutive months, Nifty has closed on a positive note MoM. However, July has been trailing negative so far. From the lows seen in early April, Nifty has made a sharp recovery of about 14-15%, only about 5% down from the highs seen in late September last year (likewise movement in broader indices as well).The earnings growth slowdown and geopolitical uncertainties have been the primary factors to the market's a muted FY25, earnings are likely to grow at a healthy 12-13% over the next 2 financial years. In fact, during June, upgrades were seen in Nifty's FY26 and FY27 EPS estimates for the first time in the last 12 months. In the very near-term, market may respond to a variety of factors. In the medium to long term, it will follow earnings growth and valuations. Indian markets are reasonably positioned supported by healthy earnings valuations are slightly higher than long term averages, justified considering the low cost of capital and robust domestic caution needs to be exercised as there may be certain pockets of exuberance, where built in valuations expectations are high. As global players eye India's wealth market and domestic competition intensifies, what do you think will differentiate winners in this space? A) In businesses with high growth potential, competition is usually high. Market players need to present a differentiated proposition to have a right to win. Some of the differentiating factors for JM wealth are: • A forward-looking 50+ year legacy built on clients' trust• Ability to offer onshore and global solutions with seamless execution• Delivering holistic solutions beyond investment management such as estate/legacy planning and aligning wealth planning with immigration decisions, etc.• Advantages of being an integrated institution by managing clients throughout their lifecycle- addressing needs across capital raising, M&A, financing and wealth etc.• Penetration across Tier-2/ Tier-3 cities, the relatively underserved, yet emerging hotspots of wealth creation• Retain as well as engage the right talent by offering a stable environment, strong culture and compensation linked to long term wealth creation Q) The June quarter season has just begun – how do you see India Inc. faring in this quarter? Which sectors should investors watch out for? A) After a spell of muted quarterly earnings, Indian Inc. is expected to deliver healthy numbers in this quarter. The Nifty50 earnings are likely to be in low double digits YoY. However, if we exclude financials, the earnings may likely improve to to watch out for: Cement, Consumer Retail, Telecom and Infra are likely to be high performers. Auto, Lending Financial institutions, Consumer Durables and Utilities could be laggards Q) Everyone says it is a stock pickers market now and the day of making easy money is over. What are your views? A) After a sustained outperformance by stock markets over past 4-5 years, valuations, are generally high across the market, more so in the Mid & Small Caps. There are limited avenues with potential of valuation rerating. Unless there is another massive uptick in the earnings cycle (like the one observed post COVID), the market performance at a broader level is expected to be moderate. In this market environment, there are limited opportunities for alpha there are opportunities for stock specific picks and contrarian bets. We follow a mix of a beta and alpha approach, wherein we manage beta with diversified strategies and look for alpha generating opportunities with bottom up managers (boutique as well as contrarian) Q) SIP crossed Rs 27000 Cr for the first time in June. What is boosting the momentum? A) Strong domestic flows through SIPs have become a main feature of Indian markets, providing stability and resilience when FPI flows have been patchy. A low-interest rate environment resulting in a lack of alternative investment avenues, unfavourable taxation on debt instruments and strong performance of equity markets in the past few years has resulted in financialization of incomes and growing equity culture amongst Indian savers, thereby boosting momentum in SIPs. Q) FIIs are still not back in India completely – is it valuations or earnings which are proving to be headwinds? A) After a blip in FY25, Indian corporate earnings growth (represented by Nifty 50) is likely to improve. The consensus estimates are pointing towards ~13% CAGR over the next 2 years. While this looks healthy, there are other markets globally that could also experience a robust earnings growth over the next 2 valuations, MSCI India trades at around a 24x PE forward, which is over an 80% premium to the broader MSCI EM India generally has traded at premium to MSCI EM, the current premium is considered even higher than its historical averages (~60% over last 10 years).In our view, the long-term India story remains intact however the relative attractiveness of other markets, especially EMs is leading to inconsistent FPI flows. Q) Which sectors are likely to drive momentum in the 2H2025? A) Looking at the global uncertainties around tariffs, wars, interest rates, etc, domestic facing players are likely to be in focus in the near term. Markets are likely to be earnings driven. The following sectors with their near-term triggers are likely to be in momentum for next few quarters:- Cement on the back of improving profitability and decent volume growth,- Oil & Gas, especially OMCs with improving marketing margins- Telecom on the back of ARPU improvement, upgrades to 5G, etc. Q) Any sector(s) which you think is overheated? A) Some sectors like EMS, Defence and Mid Cap IT have very high growth expectations built into their current valuations. These valuations could get questioned on way forward as there is little scope for disappointment in earnings. (Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
