Diversified Financials Capital Markets

  • NEW YORK, June 2- Investors pulled approximately $1 billion from the Pimco Total Return Fund, one of the world's largest bond funds, in May following cash withdrawals of the same amount the previous month, the Newport Beach, Calif- based firm said on Thursday. May's cash withdrawals from the Pimco Total Return Fund marks the portfolio's 37th month of consecutive...

  • NEW YORK, June 2- The Pimco Total Return Fund, one of the world's largest bond funds, posted net outflows of approximately $1 billion in May, following cash withdrawals of the same amount the previous month, Pimco said Thursday.

  • June 2- Proxy advisory firm ISS backed an activist hedge fund's board nominees for FBR& Co, citing the investment bank and brokerage's failure to implement a successful growth strategy. Activist Voce Capital, which owns 5.2 percent of the company, has nominated three directors to serve on its board, including the hedge fund's founder, Daniel Plants.

  • June 2- Investment bank and brokerage FBR& Co backed the re-election of its entire slate of directors and said that recommendations from proxy advisory firm Institutional Shareholder Services was based on "flawed assumptions." ISS recommended that shareholders vote in favor of nominees of activist investor Voce Capital Management LLC, saying the company's...

  • TORONTO, June 2- Canada's main stock index edged higher on Thursday as financials firmed, while losses for oil weighed on the energy sector after a group of major oil producers left their output policy unchanged. At 11:06 a.m. EDT, the Toronto Stock Exchange's S&P/TSX composite index rose 18.47 points, or 0.13 percent, to 14,082.01. The bank said it would acquire...

  • LONDON, June 2- Credit Suisse has told its staff to leave work by 7 pm on a Friday and not return until at least Saturday lunchtime, unless a big deal is in the works. In an email dated May 23, Credit Suisse told its staff in the EMEA investment banking and capital markets department that they should leave the office by 7 pm on a Friday and not return until at least midday on...

  • HONG KONG/ SINGAPORE/ BANGKOK, June 2- Thailand's biggest energy company PTT is examining a proposal to list its retail business and is expected to complete the study in the third quarter of this year, the state-backed company's investor relations official told Reuters on Thursday. PTT has hired JPMorgan Chase& Co and Phatra Securities to advise on the potential...

  • HONG KONG/ SINGAPORE/ BANGKOK, June 2- Thailand's biggest energy company PTT is examining a proposal to list its retail marketing business and is expected to complete the study in the third quarter of this year, the state-backed company's investor relations official told Reuters on Thursday. PTT has hired JPMorgan Chase& Co, Phatra Securities, and other domestic...

  • June 1- American International Group Inc failed to persuade a California judge to dismiss a lawsuit by Pacific Investment Management Co that accuses AIG of lying about its subprime mortgage exposure prior to the 2008 financial crisis. Judge Thierry Patrick Colaw of Orange County Superior Court, in a decision dated Tuesday, rejected AIG's argument that Pimco,...

  • CAIRO, June 1- Beltone Financial, Egypt's largest asset manager, signed an agreement to acquire 51 percent of New York- based brokerage firm Auerbach Grayson& Company, the Egyptian firm told Reuters on Wednesday. Beltone Financial was advised by Beltone Investment Banking, Covington& Burling LLP in Washington DC, and Zaki Hashem& Partners in Cairo, the company said.

  • NEW YORK, June 1- Jeffrey Gundlach's DoubleLine Capital reached $100 billion in assets under management last month, the Los Angeles- based firm said on Wednesday. The DoubleLine Total Return Bond Fund, the largest fund by total assets of the DoubleLine Funds, had a net inflow of $918.90 million in May, for a year-to-date net inflow of $7.20 billion.

  • LONDON, June 1- Barclays has completed the sale of its Italian insurance business to CNP Assurances, the British lender said on Wednesday. The deal will see Barclays transfer 700 million euros worth of assets under management to the buyer, Barclays said, as the bank continues to dispose of assets under a plan to shrink its size and increase profits.

  • *Between $5 bln and $6 bln to be sold to institutional investors. *Alibaba will buy $2 bln worth of stock. June 1- SoftBank Group Corp said it will sell at least $7.9 billion of shares in Alibaba Group Holding Ltd- a move that will cut the Japanese firm's debt amid worries about losses at its U.S. telecoms unit Sprint Corp.

  • David Einhorn's Greenlight Capital dipped 1.9 percent in May, leaving the fund up 1.1 percent for the year so far. Daniel Loeb's Third Point Partners fund gained 1.7 percent in May and is up 1.5 percent for the year. Barry Rosenstein's Jana Partners fund gained 2.4 percent in May, but is nursing a 4.7 percent loss for the year.

  • David Einhorn's Greenlight Capital dipped 1.9 percent in May, leaving the fund up 1.1 percent for the year so far. Daniel Loeb's Third Point Partners fund gained 1.7 percent in May and is up 1.5 percent for the year. Barry Rosenstein's Jana Partners fund gained 2.4 percent in May, but is nursing a 4.7 percent loss for the year.

  • TORONTO, May 31- Canada's main stock index turned lower on Tuesday after hitting a new nine-month high, pressured by losses for financial stocks after one of the country's major banks reported results that missed estimates. "The market still has legs," said Steve Belisle, portfolio manager at Manulife Asset Management, who expects the index to move higher over the...

  • May 31- Bank of America Corp's U.S. Trust business plans to add more than 100 financial advisers who cater to the super-rich as part of its strategy to grow wealth-management revenue, a U.S. Trust executive said on Tuesday. The number of private client advisers will rise to more than 450 from 323 over the next three years, Keith Banks, president of U.S. Trust said at a...

  • NEW YORK, May 31- A former director at Barclays Plc was arrested on Tuesday on U.S. charges that he provided inside information about impending mergers that he learned about at the bank to a plumber, who used the tips to illegally make $76,000. Steven McClatchey, 58, was charged in a criminal complaint filed in Manhattan federal court with conspiracy, wire fraud and...

  • BEIJING, May 31- The outstanding amount of China's dollar-denominated Qualified Foreign Institutional Investor programme rose to $81.098 billion as of May 30, from $80.996 billion at the end of April, the country's foreign exchange regulator said on Tuesday.

  • *Only 7 percent expect to raise Egypt allocation. DUBAI, May 31- Middle East fund managers have grown more cautious about building positions in both equities and fixed income, partly because of the risk of a U.S. interest rate hike as soon as June, a monthly Reuters poll showed. Fed interest increase decision in June or July, "said Mohammed Ali Yasin, managing director...