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PARIS/LONDON (Reuters) – H2O, one of French bank Natixis’ asset management businesses, has sold off some illiquid assets and removed entry fees across its funds as it tries to stem outflows of customer money. The business, which contributed about 11% of Natixis’ net income last year, said on Monday the move had led it to mark down the value of its funds by as much as 7%. Around 1.4 billion e... »
PARIS (Reuters) – H20, the London-based fund management arm of French bank Natixis which has been hit by outflows of money, said on Monday it had sold some of its bonds portfolio. “H2O has sold part of its non-rated private bonds and, based on a valuation received by international banks, marked down the balance in compliance with UCITS regulation, thereby cutting their aggregate market value... »
LONDON (Reuters) – After years of using the internet, satellites, algos and other innovations to mine ‘Big Data’ for that edge over rivals, the world’s biggest investment firm is trialing a gizmo that puts the focus back on humans — its own portfolio managers. FILE PHOTO: A sign for BlackRock Inc hangs above their building in New York U.S., July 16, 2018. REUTERS/Lucas Jackson/File Photo In ... »
NEW YORK (Reuters) – A federal judge in Manhattan on Friday threw out the 2013 insider trading guilty plea of a former trader at SAC Capital Advisors LP, the hedge fund once run by billionaire Steven A. Cohen, saying recent changes in the law meant there were not enough facts to support the plea. FILE PHOTO: Richard Choo-Beng Lee (R) entering the U.S. Federal Courthouse with his lawyer befor... »
BOSTON (Reuters) – HomeStreet Inc defeated Roaring Blue Lion Capital Management’s campaign to unseat one director and install its own candidate, ending a two-year standoff between the financial services company and the activist investor, the company said on Thursday. Three of HomeStreet’s nine directors stood for re-election at Thursday’s annual meeting and each received at least 80 percent ... »
BOSTON (Reuters) – HomeStreet Inc defeated Roaring Blue Lion Capital Management’s campaign to unseat one director and install its own candidate, ending a two-year standoff between the financial services company and the activist investor, a person familiar with the vote said on Thursday. Three of HomeStreet’s nine directors stood for re-election at Thursday’s annual meeting and each received ... »
BOSTON (Reuters) – Solel Partners is expected to start trading with more than $400 million in capital later this year, after the new hedge fund received commitments from pensions, endowments and the founders’ former boss, who ran hedge fund Highfields Capital, two people familiar with the matter said. Boston-based Solel, which is being launched by Craig Peskin and Peter Fleiss, will be the f... »
FILE PHOTO: Jeffrey Gundlach, CEO of DoubleLine Capital LP, presents during the 2019 Sohn Investment Conference in New York City, U.S., May 6, 2019. REUTERS/Brendan McDermid (Reuters) – Jeffrey Gundlach, chief executive of DoubleLine Capital and the most widely followed bond investor, said the Federal Reserve’s dovish turn in its policy statement on Wednesday took its lead from the bond... »
FILE PHOTO: Jeffrey Gundlach, CEO of DoubleLine Capital LP, presents during the 2019 Sohn Investment Conference in New York City, U.S., May 6, 2019. REUTERS/Brendan McDermid (Reuters) – Jeffrey Gundlach, chief executive of Doubleline Capital, said on Wednesday that the Federal Reserve is doing “what the bond market says – with a lag.” “The bond market definitely helped to encourag... »
Rio Tinto plc ADR (NYSE: RIO) has warned its iron ore unit is experiencing mine operational challenges in the Greater Brockman hub in the Pilbara region of Australia, according to a Wednesday Reuters report. The mining company now expects 2019 Pilbara shipments between 320-330 million tonnes versus previous guidance of between 333-343 million tonnes. Rio Tinto also expects to revi... »
CHICAGO (Reuters) – Federal policy on retirement security is one chaotic mess right now. FILE PHOTO: A group of elderly people sit in the shade in a park in Vienna, Austria June 28, 2017. REUTERS/Leonhard Foeger/File Photo Just consider the contradictory state of affairs when it comes to pensions and retirement income. On the one hand, a bill called the Setting Every Community Up for Retirem... »
FILE PHOTO: Japan’s SoftBank Group Corp Chief Executive Masayoshi Son bows his head after his presentation at a news conference in Tokyo, Japan, November 5, 2018. REUTERS/Kim Kyung-Hoon TOKYO (Reuters) – Most investors in SoftBank Group Corp’s $100 billion Vision Fund want to join the group’s forthcoming second fund, founder and Chief Executive Masayoshi Son said on Wednesday. SoftBank... »
NEW YORK (Reuters) – Mortgage rates are nearing historic lows again in the United States, making it an ideal time to buy a home – or refinance. FILE PHOTO: Homes are seen under construction in the northwest area of Portland, Oregon March 20, 2014. REUTERS/Steve Dipaola “It’s amazing how many times a once-in-a-lifetime opportunity comes around,” said Keith Gumbinger, vice president of h... »
FILE PHOTO: A Wells Fargo logo is seen in New York City, U.S. January 10, 2017. REUTERS/Stephanie Keith NEW YORK (Reuters) – Wells Fargo & Co was dismissed as a defendant in a lawsuit brought by the cities of Philadelphia and Baltimore, which accused large banks of conspiring to inflate interest rates for variable-rate demand obligations (VRDO), a type of tax-exempt bond. The dismissal c... »
Chinese e-commerce giant Alibaba Group Holding (NYSE: BABA) announced CFO Maggie Wu will be tasked with running the company’s strategic investments unit, Reuters reported Tuesday. What Happened Wu will take over responsibility from Executive Vice-Chairman Joe Tsai, who was demoted to a supportive role in the strategic investments unit, according to Reuters. The change comes at a t... »
