More pension funds consider divesting from hedge funds, due to poor performance and high costs. NYT reports.» Read More
LONDON, June 26- The London Stock Exchange Group said it planned to acquire U.S.-based asset manager and stock exchange provider Frank Russell for $2.7 billion, with the help of a $1.6 billion rights issue, as it ramps up its U.S. presence.
*Upgrade of UAE, Qatar by MSCI lured billions. DUBAI, June 25- The spectacular rise and fall of Arabtec, Dubai's most heavily traded stock, teaches hard lessons about how risky the region remains for investors even as its rapid economic growth lures billions of dollars in fresh funds from abroad.
sources@ TOKYO, June 25- Three Japanese "semi-public" pension funds aggressively bought Tokyo stocks in recent weeks, market sources said, acting before a review of their asset allocation policies is complete.
*34 new commodity funds through May, lowest since H1 2006. *Only two new "discretionary" funds, both by same trader. NEW YORK, June 24- Commodity fund launches have slowed dramatically, heading for an eight-year low, data from industry tracker Preqin showed, after years of weak returns and some high-profile fund failures in the commodities sector.
Japanese Prime Minister Shinzo Abe will detail his so-called "third arrow" policies including phased corporate tax cuts and reforms for the $1.26 trillion Government Pension Investment Fund, the world's biggest pension fund.
*Wisconsin Energy to buy Integrys for $9.1 bln. *ParkerVision plummets on its heaviest-ever volume. "Right now we're digesting last week's gains and keeping an eye on all the economic data that's coming out this week," said Leo Grohowski, who oversees more than $184 billion in client assets as chief investment officer at BNY Mellon Wealth Management in New York.
June 23- Private equity firm Carlyle Group LP said on Monday it had raised $1 billion for its second fund focused on buying and selling financial institutions such as wealth managers and insurance firms, almost three years after it began fundraising.
NEW YORK, June 22- Bank of America Corp will announce on Monday it will lower the threshold for consumers who qualify for discounts on loans and other benefits as the No. 2 U.S. bank seeks to win more business from existing customers.
*Oil eases away from $115. NEW YORK, June 20- Wall Street equities hit new highs on Friday, boosted by money managers convinced that U.S. policymakers will keep a lid on interest rates through 2016, while oil prices backed away from nine-month peaks triggered by worries about the turmoil in Iraq.
MILAN, June 20- Carlyle Group has sold its entire 7.13 percent stake in Moncler for 215 million euros, the asset manager said on Friday, six months after the Italian luxury down jacket maker listed on the Milan bourse.
NEW YORK, June 20- Federal Reserve chief Janet Yellen signaled that rational exuberance is just fine.
*FTSEurofirst 300 up 0.7 pct, Euro STOXX 50 up 1.1 pct. PARIS, June 19- European stocks rallied on Thursday, with a blue-chip index near a six-year high, after the U.S. The euro zone's blue-chip Euro STOXX 50 index had risen 1.1 percent to 3,316.36 points, a level not seen since mid-2008.
LONDON, June 19- British hedge fund firm Man Group has bought U.S. peer Numeric Holdings for an initial $219 million to broaden its computer-driven business and increase its presence in the United States. Man Group's shares had risen 5.4 percent by 0918 GMT, making them the second-biggest gainer on Britain's FTSE mid-cap index, which was up 0.9.
NEW YORK, June 18- Institutional investors including BlackRock Inc and Allianz SE's Pimco on Wednesday sued six of the largest bond trustees, accusing them of failing to properly oversee more than $2 trillion in mortgage-backed securities issued in the run-up to the 2008 financial crisis.
BOSTON, June 17- Massachusetts' pension fund is pushing to move some of the $5.6 billion it invests with hedge funds into separately managed accounts and may even invest, at a lower cost, in strategies designed to mimic hedge fund returns. But few big investors have been as public about their plans as Massachusetts.
NEW YORK, June 18- The high levels of cash that TD Ameritrade customers have been keeping in their brokerage accounts since the 2008-2009 financial collapse is on the decline, a sign of growing confidence in the U.S. stock market, company executives said at Reuters Wealth Management Summit on Wednesday.
But the judge, who has been presiding for more than a decade over litigation between Argentina and hedge funds that refused to exchange defaulted bonds, seemed more interested in a fiery speech on Monday night by Argentine president Cristina Fernandez de Kirchner, in which she said the country would not submit to "extortion" by the hedge funds; and by a second speech Tuesday by the Argentine economy minister, who disclosed plans to restructure bonds to avoid "attachments."
NEW YORK, June 18- Just because the one-time billionaire hedge fund manager Raj Rajaratnam engaged in insider trading doesn't mean his younger brother did as well, a lawyer for Rengan Rajaratnam told jurors on Wednesday.
*Wants UBS to split wealth management, investment bank. MONACO, June 18- Eric Knight, chief executive of activist fund manager Knight Vinke, believes Swiss bank UBS will eventually follow his advice and split its wealth management business from its investment bank.
NEW YORK, June 18- Lawyers for Argentina and for hedge funds that did not take part in its debt restructuring are scheduled to appear in federal court in New York on Wednesday in what could be a last-ditch attempt by the country to avoid default.