US asset managers rise as markets rebound after three days of tariff turmoil

Icahn Enterprises LP

08/04/2025 16:10

Updates

** Shares of U.S. asset managers rise, signaling a rebound after three sessions of tariff-related turmoil

** Investors keenly await any sign of the U.S. considering negotiations over its tariffs, especially as China has refused to bow to what it has called "blackmail"

** Asset managers could see a drop in fees if there is a prolonged decline in markets due to the trade war and the resulting economic uncertainty and inflationary pressures

** Janus Henderson JHG.N rises 6.1%, Apollo APO.N and Charles Schwab SCHW.N up 4.5%

** KKR KKR.N rises 3.4%, Franklin Resources BEN.N up 3.2%, Blackstone BX.N up 2.2%

** Icahn Enterprises IEP.O and BlackRock BLK.N up 1.5%

** "Negative beta combined with elevated market uncertainty and volatility have quickly become a headwind," Jefferies analysts said in a note

(Reporting by Ateev Bhandari in Bengaluru)

((ateev.bhandari@thomsonreuters.com))