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Tag Archive | "Reuters"

Bill Ackman says short-term money driving market volatility

NEW YORK William Ackman, head of hedge fund firm Pershing Square Capital Management, said on Tuesday that financial market volatility was being driven by short-term money without regard to long-term economic fundamentals and that Valeant Pharmaceuticals International Inc was the most undervalued stock among his top holdings.

“There is a huge amount of money that moves without regard to long-term economic […]

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GE close to selling part or all of its real estate holdings: source

(Reuters) – General Electric Co is nearing a deal to sell substantially all of its $30 billion real estate assets to a consortium led by Blackstone Group and Wells Fargo Co, according to a person familiar with the matter.

An announcement could come as early as Friday, the person said.

GE spokesman Seth Martin declined to comment.

GE has been retreating […]

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Why are states leaving billions in retiree income on the table?

CHICAGO (Reuters) – Illinois is the national poster child for state budget messes. My home state faces a $7.4 billion general fund deficit and a $12 billion revenue shortfall. One proposed idea for plugging at least part of the horrific shortfall: tax retirement income. But our new governor, Republican Bruce Rauner, has rejected the idea.

Illinois exempts all retirement income from […]

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Automatic trading brings growing risks to U.S. bond market: TMPG

NEW YORK (Reuters) – The increasing role of computerized trading in the U.S. bond market has boosted the risk to U.S. Treasuries trade, potentially causing more turmoil like the wild price swing that erupted on Oct. 15, according to a paper from a bond industry group released on Thursday.

Supporters see automated trading, in particular high frequency trading which uses complex […]

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SEC panel to call for better Wall Street disciplinary database

WASHINGTON (Reuters) – A panel of investor advocates said on Thursday they were developing a proposal for U.S. securities regulators that will make it easier for retail investors to conduct online background checks of financial professionals before hiring them.

The Securities and Exchange Commission’s Investor Advisory Committee discussed the recommendation amid concerns about elderly investors who are often prime targets for […]

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Exclusive: Ex-Taconic fund manager Hampaul readies own hedge fund

LONDON (Reuters) – Former Taconic Capital Advisors portfolio manager Kelly Hampaul is preparing to launch his own hedge fund in the second half of the year, sources said, joining a string of other high profile European start-ups expected in coming months.

A combination of buoyant equity markets and divergent monetary policies has helped push first-quarter European hedge fund returns past 4 […]

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Bill Gross’s fund posts inflow of $10.2 million in March, reversing withdrawals

NEW YORK (Reuters) – Investors poured $10.2 million into Bill Gross’s Janus Global Unconstrained Bond Fund in March, reversing cash withdrawals from the previous month, Morningstar said on Thursday.

Gross, who built Pimco into one of the largest investment firms in the world, resigned from there on Sept. 26 to join Janus Capital Group Inc.

(Reporting By Jennifer Ablan; Editing […]

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Apollo plans to expand into Mideast via Dubai joint venture: sources

DUBAI (Reuters) – Apollo Global Management is in talks to expand its business into the Middle East for the first time through a joint venture with a local investment firm, three sources aware of the matter told Reuters on Wednesday.

The move is the latest sign of interest in the region from large Western private equity funds. They are searching for […]

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Fees from Shell’s BG purchase could be among 10 biggest

LONDON (Reuters) – Fees from Royal Dutch Shell’s $70 billion takeover of British energy firm BG could be among the top 10 most lucrative transactions on record, according to estimates from Thomson Reuters and Freeman Consulting. 

Shell’s cash and share offer, recommended by the board of BG on Wednesday, could earn its three financial advisers a combined $182.6 million in […]

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Tiger Global falls 2.9 percent in March, down 5.3 percent in first quarter

BOSTON (Reuters) – Investment firm Tiger Global Management, one of the hedge fund industry’s most closely watched players, told clients that its hedge fund lost 5.3 percent during the first quarter, an investor said on Wednesday.

Much of the decline came in March when the fund lost 2.9 percent, the investor, who is not permitted to speak about the fund publicly, […]

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U.S.-based bond funds post first outflows in 12 weeks: ICI

NEW YORK (Reuters) – Investors in U.S.-based mutual funds pulled $1.3 billion out of bond funds in the week ended April 1 as tax deadlines approached for retail investors, data from the Investment Company Institute showed on Wednesday.

The outflows were the first in 12 weeks, or since early January, according to the data from ICI, a U.S. mutual fund […]

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U.S. money fund outflow slows in latest week

NEW YORK (Reuters) – U.S. money market funds had slower withdrawals in the latest week after booking their biggest outflow in nearly 1-1/2 years the previous week, the Money Fund Report said on Wednesday.

Money fund assets fell $4.92 billion to $2.671 trillion in the week ended April 7. Last week, they declined $44.36 billion, marking the largest single-week drop since […]

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Hedge funds return 2.4 pct in Q1, beating broad stock index: HFR

BOSTON (Reuters) – The average hedge fund climbed 2.4 percent during the first quarter, handily beating the broader stock market, according to industry data released on Wednesday and giving the exclusive industry a dose of good news after months of lackluster returns.

Hedge Fund Research, an industry tracking firm, reported that the HFRI Fund Weighted Composite Index gained 0.5 percent in […]

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Living with low economic growth

NEW YORK (Reuters) – Investors worried about the International Monetary Fund’s prediction of an extended era of lousy economic growth should probably relax and take a deep breath.

Or rather, they might want to pay better attention to the price they pay for growth rather than the absolute rate at which the economy is going to grow.

The IMF this week released […]

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Bank of America appoints co-heads of global investment banking

(Reuters) – Bank of America Corp appointed Karim Assef and Diego De Giorgi co-heads of global investment banking, according to an internal memo seen by Reuters.

Assef was global head of investment banking coverage and De Giorgi was co-head of Europe, Middle East and Africa global corporate and investment banking since 2013, the memo said.

De Giorgi was chief operating officer at […]

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SEC top equity market structure expert to depart this month

WASHINGTON (Reuters) – Gregg Berman, an equity market structure expert who helped develop a new system for collecting critical trading data, is set to leave the U.S. Securities and Exchange Commission later this month, the agency said on Wednesday.

Berman, an associate director in the Trading and Markets Division, joined the SEC in 2009. He now oversees a unit he helped […]

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How much is your hotel loyalty worth?

(Reuters) – When it comes to hotel stays, Gary Burris is loyal to a fault.

In about 20 years of traveling, he has stayed 1,079 nights in Marriott International Inc hotels, where he expects – and receives – a certain level of service, says the 51-year-old sales manager for Oregon-based Tec Laboratories.

Hotels covet loyalty from customers like Burris. More than two-thirds […]

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Gundlach: ‘Fed wants to get off zero,’ may hike rates in June

NEW YORK (Reuters) – DoubleLine Capital Chief Executive Jeffrey Gundlach said on Tuesday that the Federal Reserve could raise interest rates in June if economic data stabilizes.

“The Fed wants to get off zero,” Gundlach said on an investor and media webcast. The weak March payrolls report may not be enough to deter an interest-rate increase in mid-June, Gundlach said. […]

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Gundlach says Fed may raise rates in June; ‘Fed wants to get off zero’

NEW YORK (Reuters) – Doubleline Capital Chief Executive Officer Jeffrey Gundlach said on Tuesday that the Federal Reserve could raise interest rates in June if the economic data stabilizes.

“The Fed wants to get off zero,” Gundlach said on an investor and media webcast. The U.S. central bank has kept overnight interest rates near zero since December 2008, but a […]

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Oaktree’s Marks says no bargains in financial markets: CNBC

NEW YORK (Reuters) – Howard Marks, co-founder and chairman of Oaktree Capital, the world’s largest distressed debt investor, said on Tuesday that no assets in financial markets were “absolutely cheap” but that stock valuations were not excessive.

“There are no compelling bargains that I’m aware of in the markets,” Marks told cable television network CNBC. “There’s nothing that’s absolutely cheap.”

He […]

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Investors pull $4 bln from hedge funds amid lackluster returns

BOSTON (Reuters) – Wealthy investors protested the hedge fund industry’s recent lackluster returns and high fees by pulling a net $4 billion out of the $2.5 trillion industry during the first two months of 2015, data released on Tuesday show.

The number contrasts with the heady days of 2014 when investors added $31.6 billion of new money in January and February, […]

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Hedge fund says BNY Mellon is ‘bloated’ with 10,000 excess staff

BOSTON (Reuters) – Activist hedge fund Marcato Capital Management on Tuesday said BNY Mellon Corp’s employee base is “bloated” and disproportionately larger than its rivals.

Marcato, which owns about 1.6 percent of BNY Mellon’s stock, previously has called for the ouster of Chief Executive Gerald Hassell, saying he has missed profit targets and has failed to streamline the bank’s […]

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