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First Citizens Bank Joins with Teen Cancer America for 2024 'Month of Love' Campaign

  • 3 min read

February 01, 2024. RALEIGH, N.C. US

This February, Show Teens and Young Adults with Cancer That You Care

February is nonprofit Teen Cancer America's (TCA) "Month of Love," and First Citizens Bank is encouraging everyone to share the love and give hope to young people with cancer.


"TCA's Month of Love is a time set aside to show teens and young adults diagnosed with cancer how much we care," said Jeff Ward, First Citizens' chief strategy officer and national TCA board member. "TCA is the only national nonprofit dedicated to this age group, which has unique physical and psychological needs. We're proud to support TCA's efforts to improve medical outcomes, enhance treatment experiences and provide facilities and programs designed especially for these young people. Please join us in championing this important cause."


To Participate


TCA is First Citizens' primary bankwide philanthropic partner. Since 2015, First Citizens has helped establish TCA programs at six medical centers, served as an advocate, raised awareness and contributed more than $3.3 million for the cause.


More than 90,000 young people are diagnosed with cancer each year. Supporting TCA:

  • Helps medical centers build young people-centric spaces.

  • Strengthens partnerships with 62 hospital partners across the country to improve oncology care.

  • Enhances programs, services and hospital experiences and enriches the quality of life for young people and their families.

  • Funds dedicated research, creates direct patient service programs, educates healthcare professionals through webinars, meetings and conferences and much more.


First Citizens will be promoting TCA's "Month of Love" online and through social media throughout February.


To date, the bank's efforts have helped establish TCA cancer programs in six hospitals: Duke Cancer Institute in Durham, N.C.; UNC Lineberger Comprehensive Cancer Center in Chapel Hill, N.C.; Monroe Carell Jr. Children's Hospital at Vanderbilt University in Nashville, Tenn.; Prisma Health Cancer Institute in Greenville, S.C.; Bon Secours St. Francis Health System, also in Greenville, S.C.; and Atrium Health Wake Forest Baptist in Winston-Salem, N.C.


Thanks to the bank's support, North Carolina is the first and only state in the nation to have adolescent and young adult programs in every one of the state's National Cancer Institute-designated cancer centers.


About First Citizens Bank

First Citizens Bank helps personal, business, commercial and wealth clients build financial strength that lasts. Headquartered in Raleigh, N.C., First Citizens has built a unique legacy of strength, stability and long-term thinking that has spanned generations. First Citizens offers an array of general banking services including a network of more than 500 branches and offices in 30 states; commercial banking expertise delivering best-in-class lending, leasing and other financial services coast to coast; innovation banking serving businesses at every stage; and a nationwide direct bank. Parent company First Citizens BancShares, Inc. (NASDAQ: FCNCA) is a top 20 U.S. financial institution with more than $200 billion in assets. Discover more at firstcitizens.com. Member FDIC.


About Teen Cancer America

Founded by rock icons Roger Daltrey and Pete Townshend of The Who, Teen Cancer America helps hospitals and healthcare professionals bridge the gap between pediatric and adult oncology care by supporting hospitals and outpatient facilities in the development of specialized units and programs for this age group. Age-targeted care for this population is necessary for medical and appropriate psychosocial development. Teens and young adults with cancer are long overdue for an upgrade and TCA can hopefully light the fire in America's health systems. Please visit TeenCancerAmerica.org.


Contact: Barbara Thompson

First Citizens Bank 

(919) 716-2716



Macquarie European Infrastructure Fund 7 reaches €8 billion of investor commitments

  • 2 min read

Updated: Jan 31, 2024

January 22, 2024. LONDON, UK

Macquarie Asset Management has announced that over €8 billion has been committed to Macquarie European Infrastructure Fund 7 (MEIF7) upon the fund’s Final Close, making MEIF7 the industry’s largest-ever fund focused on European infrastructure.1


MEIF7 reached Final Close in December 2023, having attracted commitments from more than 100 pension funds, insurance companies, sovereign wealth funds, asset managers and fund of fund investors. Approximately 92 per cent of commitments came from investors who have previously invested with Macquarie Asset Management. The strategy also attracted commitments from 24 investors new to the Macquarie Asset Management platform.


MEIF7 is the seventh vintage of Macquarie Asset Management’s successful European Infrastructure Fund series and was raised with a target size of €7-8 billion. The strategy aims to create a diversified portfolio targeting infrastructure companies aligned to the key investment themes of decarbonisation, digitalisation, the circular economy and demographic shifts. MEIF7 has already committed capital across three investments in the digital, transport and utilities sectors comprising of VIRTUS Data Centres, Best in Parking and Last Mile Infrastructure Group.


Adam Lygoe, Head of Institutional and International Wealth Distribution at Macquarie Asset Management, said: “Despite an uncertain macroeconomic environment, we have continued to strengthen and broaden our relationships with clients by providing compelling solutions to help meet their investment objectives. We would like to thank our investment partners for the trust they have placed in us.”


Martin Bradley, Head of Infrastructure for Macquarie Asset Management in EMEA, said: “Continual investment is needed to develop the infrastructure that provides essential services to communities. The closing of our seventh European infrastructure fund enables us to play a meaningful role in helping meet that need, as we seek to deliver positive impact across EMEA. We have a strong pipeline of investment opportunities and have already begun to establish a robust and diverse portfolio with three investments by the fund to date. We look forward to building on this strong foundation as we continue to deploy in the coming years.”


MEIF7’s Final Close brings capital managed under the Macquarie European Infrastructure Fund series to approximately €30 billion. Since 2021, Macquarie Asset Management’s infrastructure equity strategies have globally raised an aggregate total of approximately €39 billion2.


Macquarie Asset Management is the world’s largest infrastructure manager.3 It manages approximately €170 billion across its infrastructure, green investments, and natural assets platforms. Macquarie Asset Management’s Real Assets portfolio spans more than 170 companies and over 105 GW of green energy assets in construction, operations or development.4


  1. Infralogic data (Dec 2023 /Jan 2024)

  2. Funds that reached Final Close or are currently fundraising

  3. IPE Real Assets (Sep / Oct 2023)

  4. The total capacity of green energy assets in development that Green Investment Group (GIG) has an equity investment in or that are included in funds using the GIG brand as at 31 March 2023. The GW figure includes 100 per cenrt of the potential generating capacity of each asset, not the proportion owned/managed by GIG or the fun. As at 31 March 2023 on our balance sheet or under Macquarie management. Excludes lending and private credit funds. GW of green energy assets reflect 100 per cent generating capacity of each asset, not the proportion owned/managed by Macquarie. Refer to the FY2023 Basis of Preparation for ESG Reporting for the definition of ‘green energy assets’.  


Media contacts

Australia and New Zealand

T: +61 2 8232 2336


Wells Fargo Investment Institute Believes 2024 is a Pivotal Year for the Economy and Markets

  • 4 min read

December 7, 2023. SAN FRANCISCO, USA.

Expected snap back from slowing economy likely in back half of next year


With Wells Fargo Investment Institute’s (WFII’s) release of its “2024 Outlook: A pivotal year for the economy and markets,” the team offers its highest conviction ideas for investors to consider in the new year. WFII believes the 2024 economic story could be a tale of two halves for fixed income and equities. The first half will likely be more challenging as WFII expects instability during a moderate global economic slowdown (including in the U.S.), pivoting into a second half that develops into an improving, more opportunistic environment for investors.


“More long-term opportunities to put money back to work across some markets and regions should come as 2024 develops,” said Darrell Cronk, chief investment officer for Wells Fargo Wealth & Investment Management. “WFII’s outlook for most of the past two years has been cautious and focused on selectivity and quality, with an eye toward a better year next year. That theme continues in our 2024 Outlook Report.”


“The resilient U.S. economy has been supported by consumer spending, a strong labor market, and business capital spending. The journey, however, was more difficult for investors, with the Federal Reserve (Fed) raising interest rates and tightened monetary conditions,” added Cronk. “Investors following WFII advice during 2023’s slow-motion slowdown should be able to use accumulated fixed-income assets to invest later next year.”


Once investors begin to look past the economic slowdown to a recovery, WFII expects opportunities in a broad early-cycle global recovery later in 2024. As is often the case, that time will likely come while the economy is still weak, the Fed is cutting interest rates, and markets are beginning to anticipate sustainable economic and earnings growth. Those equity sectors that tie most closely to the economy’s cyclical turn higher should benefit the most at that time.


Highlights of WFII’s forecast include:

  • Economic crosswinds will net to a moderate U.S. economic slowdown by the early part of 2024, in our view, lowering the full-year U.S. GDP (gross domestic product) target to 0.7% in 2024.

  • The target for inflation in 2024 is 2.5%. Lagging effects to cool inflation in the U.S. will continue to make an impact, but the Fed’s 2% target will likely remain out of reach given the competing factors of underlying strength.

  • Once investors begin to anticipate an economic and earnings recovery, WFII expects the S&P 500 Index to gain into year-end. The target range for 2024 is 4,600 – 4,800.

  • WFII’s base scenario implies two quarter-point Fed rate cuts in 2024, causing the federal funds rate forecast in 2024 to decline toward 4.75% – 5.00%.


The full report provides insights about the economy, equities, fixed income, real assets, and alternative investments. Also included are economic and market forecasts, where WFII sees opportunity, and five portfolio ideas. Please see the full report for detailed information.


Investment and Insurance Products are:

● Not Insured by the FDIC or Any Federal Government Agency

● Not a Deposit or Other Obligation of, or Guaranteed by, the Bank or Any Bank Affiliate

● Subject to Investment Risks, Including Possible Loss of the Principal Amount Invested


Risk Disclosure

Forecasts and targets are based on certain assumptions and on our current views of market and economic conditions, which are subject to change.


All investing involves risks, including the possible loss of principal. There can be no assurance that any investment strategy will be successful and meet its investment objectives. Investments fluctuate with changes in market and economic conditions and in different environments due to numerous factors, some of which may be unpredictable. Asset allocation and diversification do not guarantee investment returns or eliminate risk of loss.


The information contained herein constitutes general information and is not directed to, designed for, or individually tailored to, any particular investor or potential investor. This report is not intended to be a client-specific suitability analysis or recommendation, an offer to participate in any investment, or a recommendation to buy, hold, or sell securities. Do not use this report as the primary basis for investment decisions. Consider all relevant information, including your existing portfolio, investment objectives, risk tolerance, liquidity needs, and investment time horizon.


About Wells Fargo Investment Institute


Wells Fargo Investment Institute, Inc. is a registered investment adviser and wholly owned subsidiary of Wells Fargo Bank, N.A., a bank affiliate of Wells Fargo & Company.


About Wells Fargo


Wells Fargo & Company (NYSE: WFC) is a leading financial services company that has approximately $1.9 trillion in assets, proudly serves one in three U.S. households and more than 10% of small businesses in the U.S., and is a leading middle market banking provider in the U.S. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management. Wells Fargo ranked No. 47 on Fortune’s 2023 rankings of America’s largest corporations. In the communities we serve, the company focuses its social impact on building a sustainable, inclusive future for all by supporting housing affordability, small business growth, financial health, and a low-carbon economy. News, insights, and perspectives from Wells Fargo are also available at Wells Fargo Stories.


Additional information may be found at www.wellsfargo.com


PM-05282025-6124942.1.1


News Release Category: WF-ERS


Media

Sarah Kerr, 917-588-5919


Source: Wells Fargo & Company

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