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  • May 14- Pimco's global equities Chief Investment Officer Virginie Maisonneuve is leaving the bond powerhouse, it said on Thursday, less than a year and a half after she was hired. In September, Bill Gross, co-founder of Pacific Investment Management Co, left his post as chief investment officer and joined mutual fund management firm Janus Capital, a move that...

  • "I don't think the market is ready to see $80 to $90 oil in the short term," the manager of the $450 million London- based Andurand Capital told Reuters ahead of his speech at an industry conference in New York on the direction of oil. The decline, which started in June, was largely due to lower-than-expected demand growth, fewer supply disruptions with the recovery of...

  • *Shake Shack climbs after raising forecast. May 14- Wall Street was set to open higher on Thursday as weekly jobless claims fell, suggesting that the labor market was on solid footing even as the economy struggles to regain momentum. It's not great, but it's not bad either, "said David O'Malley, chief executive of Penn Mutual Asset Management, which oversees about $20...

  • SAFT ON WEALTH -Smart beta, wholesale may beat retail Wednesday, 13 May 2015 | 5:42 PM ET

    May 13- U.S. equity investors might be better off getting their smart beta wholesale, or rather via a simple do-it-yourself strategy. Carried out by Denys Glushkov of the University of Pennsylvania, the study found "no evidence" that smart beta funds can significantly beat their risk-adjusted passive investment benchmarks. True smart beta ETFs now account for...

  • *Euro zone economy picks up pace but Germany lags. "The market is basically convinced that the Fed is not going to do anything until the consumer shows some strength," said Boris Schlossberg, managing director of FX strategy at BK Asset Management in New York. Gold jumped, rising well above $1,200 an ounce to a five-week high as the dollar fell.

  • NEW DELHI/ MUMBAI, May 13- A surprise delay to India's first nationwide sales tax marks one of the most painful setbacks suffered by Prime Minister Narendra Modi's government as it nears the end of a first year in power, with markets falling and farmers braced for a poor monsoon. The introduction of the goods and service tax would constitute India's biggest tax...

  • NEW YORK, May 12- Jeffrey Gundlach, chief executive of investment firm DoubleLine Capital, said Puerto Rico municipal bonds represent about 1 percent of his DoubleLine closed-end fund. In an investor call on Tuesday, Gundlach said Puerto Rico is not a "big bet" for the $2.2 billion DoubleLine Income Solutions Fund. Gundlach did purchase some pension obligations...

  • WASHINGTON, May 12- President Barack Obama addressed U.S. struggles with class and race in personal terms on Tuesday and renewed his call to close tax loopholes enjoyed by wealthy hedge fund managers as a way to reduce poverty among Americans. With police shootings of unarmed black men in the news and roughly a year and a half left in the White House to shape his...

  • LONDON, May 12- Investors raised their bets on hedge funds at the fastest pace in a year in May, data showed on Tuesday. The SS&C GlobeOp Capital Movement Index, which calculates monthly hedge fund subscriptions minus redemptions, rose 0.92 percent in May, the fastest rate since May 2014. In fact, outflows were the lowest recorded since the index's inception in 2006, "...

  • May 12- TPG Capital LP partner John Marren has a reputation for savvy technology investments and for leading the private equity firm's technology buyouts team. Several companies in TPG's portfolio, including telecommunications equipment company Avaya Inc, chipmaker Freescale Semiconductor Ltd and financial software group SunGard Data Systems Inc, on...

  • HONG KONG, May 12- International watchdogs have yet to make the case for labelling large asset managers systemically risky, a leading regulator has said, in comments that are set to further fuel a raging debate over whether such firms can be too big to fail. The Financial Stability Board has proposed adding big asset management firms such as Fidelity, BlackRock...

  • NEW YORK, May 11- The Janus Global Unconstrained Bond Fund, overseen by widely followed investor Bill Gross, attracted just $58.6 million in net new cash in April, and posted below-average returns, according to Morningstar data on Monday. "Bill Gross obviously has a brand that resonates with investors but to gather major assets, investors want more- more of a longer...

  • NEW YORK, May 11- The Janus Global Unconstrained Bond Fund, overseen by widely followed investor Bill Gross, attracted just $58.6 million in net new cash in April and posted below-average returns, according to Morningstar data on Monday. "Bill Gross obviously has a brand that resonates with investors but to gather major assets, investors want more- more of a longer...

  • NEW YORK, May 11- The Janus Global Unconstrained Bond Fund, overseen by widely followed investor Bill Gross, attracted $58.6 million of net new cash in April, according to Morningstar data on Monday.

  • LONDON, May 11- Oil's sharp rally since the middle of March has been driven by a race among bearish hedge funds to cover loss-making short positions rather than any great bullishness about the outlook. Hedge fund short covering coincides almost precisely with the rise in front-month WTI prices, from a recent low of $42 per barrel on March 18 to a high of more than...

  • NEW DELHI, May 11- India has named private banker K.V. Kamath as the first head of a new development bank being set up by the BRICS group of emerging market economies, Finance Secretary Rajiv Mehrishi told reporters on Monday. The BRICS- Brazil, Russia, India, China and South Africa- agreed to set up the $100 billion development bank last July, in a step toward reshaping...

  • NEW YORK, May 8- Vadian Bank AG has become the second of what are expected to be dozens of Switzerland- based private banks to reach a deal with the U.S. Department of Justice under a voluntary disclosure program for assisting Americans in evading taxes. Gallen, in northeast Switzerland, accepted accounts that were forced out of other Swiss banks in 2008 after it...

  • *Pension fund managers expect ECB purchases to support market. LONDON, May 8- Following a recent sell-off in German bunds, pension fund managers are resisting making any major changes to their exposure to European government debt, confident that demand from the European Central Bank will stabilize markets. But portfolio managers expect continued European...

  • Citi sold its loan to Solus Alternative Asset Management, the sources said. Solus replaced Citi in an April 30 forbearance agreement with PREPA's lenders posted on the website of Puerto Rico's Government Development Bank. Citi's $146 million loan was part of a larger credit line of around $700 million, which PREPA uses to buy oil.

  • BUENOS AIRES, May 7- Hedge funds suing Argentina over its defaulted debt have had some funds in the country's Belgian diplomatic bank accounts frozen in a bid to pressure a settlement in the dispute, a move Buenos Aires described as "attempted extortion" and illegitimate. Argentina restructured most of that debt in 2005 and 2010, giving holders around 30 cents on...