Diversified Financials Capital Markets

  • LONDON, July 4- Hedge funds and other money managers are betting diesel and heating oil will take over from gasoline as the main driver of U.S. refinery profitability in the second half of the year. The most recent data published by the U.S. Commodity Futures Trading Commission shows some profit-taking on these positions in the week to June 28.

  • *Polish pension fund crucial to future of stock market. WARSAW, July 2- A growing number of Polish firms are preparing share buybacks because they fear the government plans to plunder stocks from privately run pension funds to plug holes in the state budget, company chiefs and fund managers say. "There's a proposal which regards the question about what is to be done...

  • TOKYO, July 1- Japan's public pension fund, the world's largest, logged some $50 billion in investment losses last fiscal year as the yen surged and Tokyo stocks fell amid global market turmoil, a person with direct knowledge of the matter said. Portfolio losses for the Government Pension Investment Fund for the 12 months through March were between 5 trillion yen...

  • BOSTON, June 30- Hedge fund BlueMountain, which oversees $21.5 billion in assets, has reordered senior management by promoting Amy Wierenga to chief risk officer as Bryce Markus, who held that position and served as co-president, cuts back on his roles at the firm. "Amy Wierenga's promotion to Chief Risk Officer reflects BlueMountain's deep bench of...

  • BOSTON, June 30- Chesapeake Partners, a $1.4 billion hedge fund that bet on special situations including mergers, bankruptcies and spin-offs, is shutting down after an 18- month stretch of losses, as it blamed government regulation for making investing tougher. Founders Traci Shanbrun Lerner and Mark Lerner, in a June 27 letter to investors, which was seen by...

  • June 30- Assets of the 100 biggest U.S. public employee pension systems rose a scant 0.09 percent to $3.25 trillion in the first quarter of 2016 from the prior quarter as earnings from investments slowed, U.S. The funds gained $14.4 billion on investments in the first three months of 2016, but that represented a 77 percent drop from the revised $62.3 billion...

  • SHANGHAI, June 30- China will detail rules to allow foreign hedge fund managers to launch products in the country, the nation's securities regulator said on Thursday, as authorities step up efforts to further liberalize and deepen the domestic capital markets. Some foreign asset managers, including the world's largest hedge fund, Bridgewater Associates, have...

  • BEIJING, June 30- The outstanding amount of China's dollar-denominated Qualified Foreign Institutional Investor programme rose to $81.18 billion as of June 29, from $81.098 billion at the end of May, the country's foreign exchange regulator said on Thursday.

  • LONDON, June 30- Britons' vote to leave the European Union has benefited gold as a haven from risk and could fuel longer-term gains if economic uncertainty sparks a broader shift in global monetary policy. "There is definitely in our minds going to be a more 2008- style monetary policy pattern," Marie Owens Thomsen, chief economist at Indosuez Wealth Management in...

  • HONG KONG, June 30- Share offerings in Asia-Pacific ex- Japan sank nearly 60 percent in the first half of 2016 amid the weakest activity since 2008, weighed by volatile equity markets, China's slowdown and uncertainty over Britain's exit from the European Union. Federal Reserve's plans for higher interest rates, China's slowest growth in 25 years and Britain's...

  • Brexit Asia

    While Brexit's impact on Asia might be limited, it will affect Asian financial centers such as Hong Kong and Singapore the most, says Jefferies' Sean Darby.

  • HONG KONG, June 30- Share offerings in Asia-Pacific ex- Japan sank nearly 60 percent in the first half of 2016 amid the weakest activity since 2008, weighed by volatile equity markets, China's slowdown and uncertainty over Britain's exit from the European Union. Federal Reserve's plans for higher interest rates, China's slowest growth in 25 years and Britain's...

  • Banks Stress Test

    The Fed will not be raising rates this year, so U.S. banks won't be earning more on net interest margins, says Wedbush Equity Mgmt's Steve Massocca.

  • LONDON, June 29- New York- based global macro hedge fund firm Caxton Associates made gains of 2 percent on Friday after Britain voted to leave the European Union, a source told Reuters on Wednesday. Caxton, founded in 1983 by Bruce Kovner, manages $8 billion in assets and is run by Chairman and Chief Executive Officer Andrew Law, who had supported Britain remaining in...

  • *Canadian banks look outside of Canada for growth. *CIBC shares down 3 percent, Private Bancorp up 22 percent. TORONTO June 29- Canadian Imperial Bank of Commerce said it will buy Chicago- based PrivateBancorp Inc in a $3.8 billion cash-and-share deal, its biggest ever acquisition and a long-awaited expansion in U.S wealth management.

  • BRASILIA, June 29- Grupo BTG Pactual SA, Latin America's largest independent investment bank, will issue a different class of shares as part of a plan to spin off its commodities trading unit, according to a securities filing on Wednesday. The plan calls for the company's Banco BTG Pactual SA subsidiary to create three types of shares that Grupo BTG Pactual...

  • India Bank Consolidation

    Moody's Investors Service's Srikanth Vadlamani explains that consolidation of Indian state banks might create larger risks than benefits.

  • WASHINGTON, June 28- The top U.S. securities regulator on Tuesday proposed a rule intended to ensure that investors are not harmed when asset managers fall on hard times or close up shop. "This is an important part of Chair White's rulemaking agenda for the asset management industry," said David Blass, general counsel for the Investment Company Institute, the...

  • WASHINGTON, June 28- The top U.S. securities regulator on Tuesday proposed a rule intended to ensure that investors are not harmed when asset managers fall on hard times or close up shop. "While an adviser may not always be able to prevent significant disruptions to its operations, advance planning and preparation can help mitigate the effects of such...

  • WASHINGTON, June 28- The top U.S. securities regulator on Tuesday proposed a rule intended to ensure that investors are not harmed when asset managers fall on hard times or close up shop. "While an adviser may not always be able to prevent significant disruptions to its operations, advance planning and preparation can help mitigate the effects of such...