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Nearly 75% of Institutional Investors Plan on Increasing Exposure to MMFs, Says State Street

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A new survey conducted by State Street Corporation reveals that nearly three-quarters, or 73%, of institutional investors plan on increasing exposure to money market funds (MMFs) as an alternative to holding cash. Over two-fifths of survey respondents, or 43%, attributed the shift to an anticipated decline in term bank deposit rates over the next year as lenders drive non-operating deposits from their balance sheets in order to comply with Basel III regulations. Liquidity, above all, appears to be increasingly on the mind of investors; 43% of participants said they expect to see a slightly increased focus on cash segmentation, compared to just 4% who foresees a decline.

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Ascendas-Singbridge Acquires Three Hotels in Osaka

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Singapore’s Ascendas-Singbridge has acquired three hotels in Osaka for 10.29 billion JPY to tap tourism growth in Japan’s third-largest city.

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BlackRock Contemplates Stake in Eurizon

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Asset management giant BlackRock is contemplating purchasing a 30% ownership stake in Intesa SanPaolo’s asset management unit called Eurizon Capital SGR S.p.A. BlackRock is keen on growing its technology business and increase market adoption of its Aladdin platform.

Intesa has been working with UBS to seek out strategic options for Eurizon. Intesa is keen on maintaining control over Eurizon.

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SWFI First Read, June 22, 2018

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JPMorgan Fund Buys 40% of Oxford Properties’ French Portfolio

A fund advised by JP Morgan Asset Management committed €400 million in Oxford Properties’ French portfolio. Essentially, Oxford Properties sold a 49.9% non-managing interest in 32 Rue Blanche, 92 Avenue de France and Paris Bastille. Oxford Properties made its maiden investment in Paris in 2014 when it acquired 32 Rue Blanche.

Oxford Properties is the real estate unit of OMERS.

Temasek Explores Further Cash Commitments to FirstCry

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