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  • *More futures liquidity could boost China's sway on global mkts. SHANGHAI/ SINGAPORE March 28- China's mutual fund industry is pushing to develop investment products linked to local commodity futures, betting that plans to fight chronic oversupply in the country's mammoth resource sector will drive up prices for raw materials. Inflows from China's mutual...

  • BOSTON, March 24- Billionaire investor William Ackman, whose hedge fund is one the of the biggest investors in drug company Valeant, has been asked to supply information to U.S. legislators probing price hikes in the pharmaceutical industry. Ackman told investors in his Pershing Square Capital Management on Thursday that the firm received a request on Friday...

  • NEW YORK, March 24- A New York hedge fund founder who before turning age 30 lost nearly all of the roughly $57 million he oversaw in less than three weeks is expected to be sentenced to five years in prison after pleading guilty to fraud, a federal judge wrote. Owen Li, the founder of Canarsie Capital LLC, is also expected to be required to pay $56.8 million of...

  • LONDON, March 24- Blackrock said on Thursday it was testing new financial messaging app Symphony, the first big global asset manager to confirm it is moving ahead with the system designed to address concerns over security and costs of monitoring staff online. Blackrock is one of 18 large financial institutions who have invested around $170 million in Symphony,...

  • NEW YORK, March 24- Hedge funds may have taken too big a bite of Apple Inc.. Shares of the iPhone maker are one of the biggest bets among hedge funds, with 47 of them listing Apple among their ten largest holdings as of the end of 2015, according to a report from Goldman Sachs on March 18. Shares of Apple fell 6.5 percent on Jan. 27, the day after the company reported its...

  • *Crude prices fall below $40 a barrel. Louis Fed President James Bullard, a voting member of the Federal Open Market Committee, became the latest official to take a hawkish stance after he said on Thursday that another hike "may not be far off." "The outlook for most investors is caution," said Amir Madden, portfolio manager at asset management firm GAM in New York.

  • IPO market is getting a new lease on life as more Wall Street banks and institutional investors turn to blank-check acquisition vehicles, once the domain of only a few underwriters and hedge funds, for better fortunes. As a result, Goldman Sachs Group Inc's biggest successfully completed IPO assignment so far this year is not a red-hot technology startup or a...

  • March 23- Private-equity firm Frazier Healthcare Partners said on Wednesday it had raised $525 million to invest in small healthcare companies. The Seattle- based company, which has more than $2 billion in assets under management, raised the amount through its buyout vehicle, Frazier Healthcare Growth Buyout Fund VIII LP. "The fund will leverage our broad...

  • March 23- Private-equity firm Frazier Healthcare Partners said on Wednesday it had raised $525 million to invest in small healthcare companies. The Seattle- based company, which has more than $2 billion in assets under management, raised the amount through its buyout vehicle, Frazier Healthcare Growth Buyout Fund VIII LP. The company said existing and select...

  • NEW YORK, March 23- The wealth management arm of Swiss bank UBS said on Wednesday it has hired Gregory Achten, managing director of Bank of America Merrill Lynch's Boston complex, to lead its Cincinnati complex, one of the largest in the firm. UBS Wealth, the biggest wealth manager in the world with $1.9 trillion in assets, said Achten will begin his new role on April 18...

  • HOUSTON/ NEW YORK, March 23- The Rockefeller Family Fund said on Wednesday it will divest from fossil fuels as quickly as possible and "eliminate holdings" of Exxon Mobil Corp, saying the oil company associated with the family fortune has misled the public about climate change risks. Though the endowment has a modest $130 million in total assets, the move is notable...

  • BOSTON, March 23- An influential group representing top U.S. pension funds on Wednesday urged companies that go public to stop using a maneuver that gives insiders extra control and makes other investors second-class corporate citizens. Members of the Council of Institutional Investors voted to adopt a new policy that all investors in initial public...

  • BOSTON, March 23- Rhode Island's state pension fund was urged to pull millions of dollars out of Luxor Capital Partners after the hedge fund posted heavy losses for months, according to a memo seen by Reuters. Influential industry consultant Cliffwater, which advises on roughly $55 billion in alternative assets invested in hedge funds, recommended that the...

  • RHODE ISLAND STATE PENSION TOLD TO DROP HEDGE FUND LUXOR CAPITAL PARTNERS-MEMO.

  • BOSTON, March 23- An influential group representing top U.S. pension funds on Wednesday urged companies that go public to stop using a maneuver that gives insiders extra control and makes other investors second-class corporate citizens. Members of the Council of Institutional Investors voted to adopt a new policy that all investors in initial public...

  • *Net inflows in Asia-Pacific, wealth management, universal bank. ZURICH, March 23- Credit Suisse Group on Wednesday announced 800 million Swiss francs in additional cost cuts and plans to shrink its investment bank further as it spurs a restructuring plan aimed at revitalising its earnings. The cuts include eliminating 2,000 jobs at its Global Markets...

  • NEW YORK, March 22- TIAA Global Asset Management won top honors at the 2016 U.S. TIAA has taken the fund research service's overall award for large firms each year since 2013, and in 2012 the award was claimed by Nuveen Investments Inc, which TIAA now owns. "We've had a couple of firms go on to repeat for a couple of years now, and it often surprises me that with all the...

  • NEW YORK, March 22- S&P Dow Jones Indices is negotiating with asset managers to license its new index, which it says represents companies that focus on the long term rather than the current quarter. The Long-Term Value Creation Global Index could be the basis for one or more mutual funds, exchange-traded funds or structured products, Vinit Srivastava, S&P's...

  • March 22- Asset manager Fiera Capital Corp and Aquila Infrastructure Management Inc have formed a joint venture with an initial capital of about C $500 million to invest in infrastructure projects. The alternative investment joint venture, Fiera Infrastructure Inc, will increase Fiera Capital's infrastructure asset portfolio to C $1.2 billion, the...

  • WASHINGTON, March 21- A regulator for the U.S. financial services industry on Monday said it was examining liquidity and redemption risks from asset managers and will provide an update on its findings in the next few months. During a conference call of the Financial Stability Oversight Council, officials discussed "potential risks to U.S. financial stability...