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Nuveen on Thursday completed its 9.9 billion pound (11.59 billion euro) acquisition of Schroders, ending 222 years of family control and bringing another major European asset manager under US ownership. The TIAA-owned manager said the combined business oversees 2.60 trillion dollars in assets, based on June 30 figures, including 400 billion dollars in private markets. Schroders will operate separately within Nuveen for the next 12 to 18 months under chief executive Richard Oldfield, reporting to Nuveen chief executive William Huffman. Saira Malik will lead a planned unified investment platform as chief investment officer. Schroders’ Johanna Kyrklund will become chief investment officer for public markets and solutions, eventually reporting to Malik. London will serve as the combined firm’s largest office and headquarters outside the United States.
The European Securities and Markets Authority (ESMA) will move in 2027 to replace fragmented national fund-reporting requirements with a common EU framework for both Ucits and alternative funds, advancing one of its main regulatory simplification projects. ESMA said Monday the overhaul is intended to cut duplicate filings and improve the use of supervisory data. Technical standards are due in the second quarter. The plan broadly mirrors the CSSF’s own efforts to simplify and standardize fund reporting in Luxembourg, although the regulator has not issued a separate position on ESMA’s framework.  
French asset managers face operational risks from technology suppliers while struggling to secure contractual safeguards under EU digital resilience rules, France financial supervisor AMF said. Third-party providers accounted for 27 of 31 confirmed major incidents reported by asset managers in 2025 under the Digital Operational Resilience Act, or DORA, according to its report. Some suppliers resisted contractual changes, offered terms that did not fully meet DORA requirements or charged extra for safeguards such as audit rights. The regulator noted that smaller managers lacked bargaining power against providers that were difficult to replace and identified supplier risk management as a key area for supervisory attention.
EU financial supervisors warned that private credit’s growing links with banks could spread stress across the financial system. In a joint risk update published September 23, ESMA, EBA and EIOPA cited infrequent loan valuations, uncertain leverage and limited transparency as vulnerabilities. Redemption pressures at private credit funds could spill over to banks through financing commitments and shared exposures, the watchdogs said. The EU market remains relatively small, with limited aggregate bank and insurer exposures. However, European institutions also face risks through investments in the larger U.S. market. The authorities urged closer monitoring while saying Europe’s financial system had remained resilient.
HANetf and Aura ETFs have launched what they call Europe’s first UCITS ETF aiming to distribute income weekly, testing demand for frequent payouts from active ETFs. The Weekly World Equity Income UCITS ETF invests in global shares and uses actively managed covered calls and call spreads to generate income. It listed on the London Stock Exchange and Xetra on September 16 with a 0.50 percent total expense ratio. Options-based ETFs in Europe manage more than 11 billion dollars, HANetf said, citing ETFBook. Weekly payments are not guaranteed, it said. If investment income is insufficient, the fund may make distributions from capital, reducing share values.
Irish-domiciled ETFs attracted an estimated 39.8 billion dollars in August, accounting for 82 percent of the 48.3 billion dollars flowing into Europe-domiciled ETFs, LSEG Lipper said.  Luxembourg attracted 5.6 billion dollars, giving the two UCITS hubs a combined 94 percent share of the European ETF inflows last month. LSEG described both countries as global ETF centers because their UCITS funds can be sold across multiple markets. Ireland held 2.74 trillion dollars in ETF assets at month-end, more than four times Luxembourg’s 678.2 billion dollars. Ireland is the world’s second-largest ETF domicile by assets under management after the United States, which held 16.4 trillion in ETF assets at the end of August after attracting 176.2 billion dollars in net inflows. Japan and Canada rank third and fourth, respectively. Europe-domiciled ETFs held 3.74 trillion dollars overall. The figures reflect fund domicile, not investor location, and exclude China from LSEG’s worldwide analysis.
Qatar’s sovereign wealth fund QIA has expanded its relationship with JP Morgan Asset Management through two investment mandates worth a combined 20 billion dollars. Qatar Investment Authority said that JP Morgan Asset Management will manage 15 billion dollars in customized global equity portfolios. QIA and the asset manager will also launch a 5 billion dollar private markets initiative providing senior financing to established U.S. middle-market companies. The credit program will focus on industrials, services, healthcare and technology.  The agreement was signed through a memorandum of understanding and builds on an existing relationship between QIA and JP Morgan Asset Management, QIA said. JP Morgan Asset Management had 4.6 trillion dollars under management at the end of June.
The Federal Reserve’s first rate increase under Chair Kevin Warsh looks more like the start of a tightening cycle than a one-off move. The Fed raised rates 25 basis points, its first hike in three years, while new projections signaled another increase this year.  Fidelity’s Salman Ahmed said the unanimous decision showed the committee sees inflation and resilient activity as justification for tighter policy, with no cuts projected in 2027. Capital.com said markets focused on the future path, pushing the dollar higher and stocks lower. Swiss securities house Maverix said the deeper message is a higher long-run rate floor, challenging hopes for cheap money again.
UBS Asset Management has launched its first active equity ETF, joining a European market that is expanding rapidly. The UBS Global Equity Income Plus Ucits ETF targets income from dividends, share buybacks and options, with a 0.30 percent fee. The ETF will be managed by the bank’s global income equity team which oversaw some 9 billion dollars at the end of July. European active ETF assets reached 110 billion euros in July, nearly tripling since 2023, Morningstar said last month. JP Morgan Asset Management remains the largest provider of active ETFs in Europe. UBS launched its first active fixed-income ETFs only last year.
Oil prices exceeded 100 dollars a barrel on Wednesday after the US destroyed five Iranian crude tankers and Iran targeted American forces in Jordan, escalating fighting that began over the weekend. North Sea Brent crude by early afternoon was traded at 100.75 dollars per barrel, 2.9 percent above Tuesday’s close and at its highest level since 23 July. US Central Command said late Tuesday four tankers were destroyed in the Gulf of Oman and another near Kharg Island in retaliation for an attack on a Navy warship.

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