Capital Markets Asset Management and Custody Banks

  • Hedge funds and other money managers increased their net long position in the three main Brent and WTI futures and options contracts by 118 million barrels in the week to Aug. 16. Front-month Brent futures prices jumped from $41.50 a barrel on Aug. 2 to $49.23 on Aug. 16 and continued rising to reach $50.88 on Aug. 19 for an increase of more than 20 percent.

  • Launched in 2014 by an acolyte of SAC Capital Advisors founder Steven A. Cohen, Folger Hill was one of the most prominent hedge funds to come on the scene. Kumin raised about $1.1 billion by telling investors its diverse array of stock market bets through talented managers meant Folger Hill would perform well in good markets and bad. As of mid-August, Folger Hill's...

  • Hedge funds and other money managers increased their net long position in the three main Brent and WTI futures and options contracts by 118 million barrels in the week to Aug. 16. Front-month Brent futures prices jumped from $41.50 a barrel on Aug. 2 to $49.23 on Aug. 16 and continued rising to reach $50.88 on Aug. 19 for an increase of more than 20 percent.

  • Launched in 2014 by an acolyte of SAC Capital Advisors founder Steven A. Cohen, Folger Hill was one of the most prominent hedge funds to come on the scene. Kumin raised about $1.1 billion by telling investors its diverse array of stock market bets through talented managers meant Folger Hill would perform well in good markets and bad. As of mid-August, Folger Hill's...

  • Aug 21- Bonnie Baha, head of Global Developed Credit at DoubleLine Capital LP, has died as a result of an automobile accident over the weekend, the firm told Reuters late Sunday. Baha, 57, helped steer the Los Angeles- based DoubleLine Capital into one of the fastest growing asset management firms in the United States. Baha was regarded as one of the best corporate...

  • Morgan Stanley HQ

    A participant in Morgan Stanley's retirement-savings plan sued Friday, alleging its investment options are poor, including some funds the bank runs.

  • LONDON, Aug 19- Sovereign wealth funds pulled $16.2 billion from third-party asset managers in the second quarter according to the latest data from research firm eVestment, up from a revised $10.1 billion in the first quarter. The depth of the sell-off reflects the fact that countries such as Russia and Saudi Arabia, which are heavily reliant on oil exports to...

  • KUALA LUMPUR/ SYDNEY/ LONDON, Aug 19- U.S. investment bank JPMorgan will include Islamic bonds, or sukuk, in its emerging markets indices for the first time from later this year, widening the appeal of Islamic instruments among global debt investors. Dollar-denominated sukuk from Turkey, Malaysia and Indonesia will be included in JPMorgan's flagship EMBI Global...

  • KUALA LUMPUR/ SYDNEY/ LONDON, Aug 19- U.S. investment bank JPMorgan will include Islamic bonds, or sukuk, in its emerging markets indices for the first time from later this year, widening the appeal of Islamic instruments among global debt investors. Dollar-denominated sukuk from Turkey, Malaysia and Indonesia will be included in JPMorgan's flagship EMBI Global...

  • NEW YORK, Aug 18- Credit Suisse Group AG is accusing a group of five investment bankers who left for Jefferies Group LLC in May of stealing confidential information and trying to coax former colleagues to join them. The dispute, which has not been previously reported, offers insight into how the Swiss bank's push into wealth management under Chief Executive...

  • NEW YORK, Aug 18- Credit Suisse Group AG is accusing a group of five investment bankers who left for Jefferies Group LLC in May of stealing confidential information and trying to coax former colleagues to join them. The dispute, which has not been previously reported, offers insight into how the Swiss bank's push into wealth management under Chief Executive...

  • AMSTERDAM, Aug 18- The average annual management charge rate paid by European investors to their mutual fund manager fell more than 8 percent over the last three years, investment research firm Morningstar said in a report. Fees varied significantly by country, with investors in Italy and Belgium paying on average 1.42 percent and 1.47 respectively, while...

  • *As rates come down in Asia, bond yields tumble. SINGAPORE, Aug 17- As returns on traditional assets have nosedived or turned more volatile in Asia, conservative investors such as pension funds and insurers have been pouring cash into alternative investments that bring the yield they need, but at significantly higher risk. Many countries in Asia only started to...

  • *Robo-advisory seen surging to $900 bln AUM in China by 2020. Although still in its infancy, assets under management of robo-advisors in China are expected to balloon to 6 trillion yuan by 2020, according to China Merchants Securities estimates, underscoring the potential for growth in an industry that was non-existent until recently. Kearney estimates for...

  • Aug 17- Combine the standard hedge fund compensation model with the reality of declining fund performance as assets under management increase and you have a whopping conflict of interest. Unlike mutual funds, hedge funds typically get an incentive fee, usually 20 percent of profits, in addition to a 1 or 2 percent annual management fee. In other words, the...

  • BOSTON, Aug 17- Hedge fund Maglan Capital demanded on Wednesday that telecom carrier FairPoint Communications remove four board members, stepping up pressure on a company whose shares it believes could trade 70 percent above their current value. In a letter sent to the board and FairPoint Chief Executive Paul Sunu and seen by Reuters, the hedge fund's two...

  • BOSTON, Aug 17- Hedge fund Maglan Capital on Wednesday demanded that telecom carrier FairPoint Communications remove four board members, stepping up the pressure on a company whose shares it thinks could trade 70 percent above their current value. In a letter sent to the board and FairPoint Communications CEO Paul Sunu on Wednesday, and seen by Reuters, the...

  • In a letter sent to the board and FairPoint Communications CEO Paul Sunu on Wednesday, and seen by Reuters, the hedge fund's two founders said they want board members Dennis Austin, Michael Mahoney, David Treadwell, and Wayne Wilson to "immediately tender their resignations" and warned they would push for a special meeting if no action is taken.

  • ST. LOUIS, Aug 17- With the U.S. Louis Federal Reserve president James Bullard is sticking with his view that a single move is all that is needed for a long time to come, and it does not have to happen anytime soon. "I think you would want to see at least a modest rebound in growth or be confident that one was coming," he told reporters after speaking at an asset management...

  • BOSTON, Aug 17- Activist hedge fund Marcato Capital Management is pushing Buffalo Wild Wings Inc to shake up its executive ranks and board, saying the casual restaurant chain's stock price could nearly triple if the company improves its business, according to a filing on Wednesday. Marcato founder Mick McGuire said in a Aug. 17 letter to Buffalo Wings Chairman...