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Diversified Financials Capital Markets

  • Is the capital outflow from EMs finally over?

    Unless there's another big rally in the dollar, the worst is behind for emerging markets, says Frederic Neumann, MD at HSBC.

  • HONG KONG, Dec 6- Fosun International Ltd, China's biggest privately-owned conglomerate, is known globally for its bold dealmaking, including the tenaciously successful pursuit of French resort operator Club Med. In some cases, the internal teams of Chinese corporations far outnumber investment bankers at global banks in Asia. Goldman Sachs, for instance,...

  • BOSTON, Dec 5- For hedge fund manager Sahm Adrangi, 2016 is the year that can not end quickly enough. Adrangi's New York- based Kerrisdale Capital Management now oversees roughly $170 million, far less than the roughly $350 million he managed over the summer. He was also charged with criminal possession of a controlled substance, which was cocaine, East Hampton...

  • BOSTON, Dec 5- Former hedge fund executive JP Miller launched an app on Monday for his startup news site Empire Report that is modeled on the Drudge Report and chronicles New York, its politicians, financiers and celebrities. There are other websites in Colorado, Connecticut and Pennsylvania that also look like the Drudge Report. The timing for Miller's site and...

  • President Donald Trump could set up an entity similar to Canada's infrastructure bank to help fund his plans to spend $1 trillion on roads and bridges, one of the world's biggest infrastructure investors said. Michael Sabia, chief executive officer of the Caisse, Canada's second-biggest public pension fund, was on the advisory panel that recommended Canada...

  • The pound briefly hit its strongest since early October against the dollar in early London trade, extending one of the currency market's best runs over the past month. Nick D'Onofrio, chief executive with London- based hedge fund North Asset Management, said that Britain's huge current account deficit argued for substantial falls in the pound.

  • TOKYO, Dec 5- The dollar's rally since the U.S. election is likely to run out of steam soon and the damage from its strength in the past month could be enough to put the world's largest economy into a recession, an investment chief at Saxo Bank said on Monday. The dollar has rallied on expectations that President-elect Donald Trump will increase fiscal spending and...

  • LONDON, Dec 5- Royal Bank of Scotland said on Monday that it had settled legal claims with the majority of shareholders who had alleged they were misled when they took part in the bank's 2008 12 billion pound rights issue. More than 35,000 shareholders who took part in the cash call, including some of Britain's biggest institutional investors and public pension...

  • *Foreign investors bought 1.2 trln yen of Japan stocks in 3 weeks. "The biggest beneficiary of this election is the Japanese market," said Jonathan Steinberg, chief executive officer of U.S. asset manager WisdomTree, which manages $38 billion, of which $8 billion is invested in Japan. "The world outside of Japan is understanding that they need to buy Japan, with the...

  • *Foreign investors bought 1.2 trln yen of Japan stocks in 3 weeks. "The biggest beneficiary of this election is the Japanese market," said Jonathan Steinberg, chief executive officer of U.S. asset manager WisdomTree, which manages $38 billion, of which $8 billion is invested in Japan. "The world outside of Japan is understanding that they need to buy Japan, with the...

  • *Hintze hails new chapter for industry. LONDON, Dec 2- Staff numbers at CQS, the hedge fund run by billionaire investor Michael Hintze, have fallen sharply, with the Australian saying rivals must adapt to a rapidly changing industry. After a tough 2015, all the main funds of CQS, which manages $12 billion, are now in the black.

  • *China moves aggressively to plug capital outflows. SINGAPORE/ NEW YORK, Dec 5- China's increasingly aggressive measures to clampdown on capital outflows will not have gone unnoticed by U.S. hedge-fund manager Kyle Bass. "China's capital outflows are worse than they appear, which is why the government has allowed the RMB to depreciate over the last two months,"...

  • BEIJING, Dec 3- Chinese insurance firms have significant risk management deficiencies, as they overly focus on asset management for profits and growth, a senior official at China's insurance watchdog said on Saturday. Vice chairman Chen Wenhui of the China Insurance Regulatory Commission said at a forum in Beijing that the insurance industry was "incorrect"...

  • BOSTON, Dec 2- Donald Trump's U.S. presidential election win gave a huge boost to some prominent hedge fund portfolios, helping them post double-digit gains in November, several investors said. William Ackman's Pershing Square Capital Management posted gains of roughly 10 percent in two portfolios while Mick McGuire's Marcato Capital Management's...

  • ZURICH, Dec 2- Actelion's silence speaks volumes to the dozens of event-driven hedge funds piling into the Swiss biotech firm, betting that Johnson& Johnson's approach will result in an outright takeover and handsome returns. A source familiar with the matter has told Reuters the two companies are discussing a bid of close to $27 billion, or 250 Swiss francs per...

  • *Hintze hails new chapter for industry. LONDON, Dec 2- Staff numbers at CQS, the hedge fund run by billionaire investor Michael Hintze, have fallen sharply, with the Australian saying rivals must adapt to a rapidly changing industry. After a tough 2015, all the main funds of CQS, which manages $12 billion, are now in the black.

  • NEW YORK, Dec 1- Highland Capital Management LP on Thursday asked a New York state judge to order the operator of Dealbreaker.com to disclose information that could help it identify whoever posted a comment that the hedge fund firm considered "defamatory." According to a public court filing, a person using the pseudonym "Low" land Realist on Nov. 2 posted a comment on...

  • The SEC said Pimco overstated the ETF's value and provided "misleading" reasons for the fund's early success, which was premised on buying small pieces or "odd lots" of mortgaged-backed securities that sell at a discount to larger units. The asset manager used a third-party pricing service that valued the bonds as though they were larger pieces, overstating its...

  • Dec 1- The U.S. Commodity Futures Trading Commission failed to verify whether futures and swaps brokerage firms have adequate policies to help ward off cyber attacks, an internal CFTC audit found. The audit was completed in October by Brown& Company CPAS and Management Consultants PLLC at the request of the CFTC's inspector general. Auditors took issue with the...

  • *Britain and France to remain separate from Frankfurt bank. ZURICH, Dec 1- Swiss bank UBS has set up a bank in Frankfurt to consolidate most of its European wealth management operations, after Britain's vote to leave the European Union dashed London's chances of being the host city. Luxembourg was a contender, along with London until Britain's vote to leave the EU,...