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Asset Management and Custody Banks

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  • NEW YORK, May 15- Top U.S. hedge fund managers made contrasting bets on energy companies in the first quarter, with Greenlight Capital's David Einhorn sticking with names pummeled by falling oil prices, while Hayman Capital's Kyle Bass bet on frackers, regulatory filings showed on Friday. Einhorn's $11 billion Greenlight Capital increased its stake in Consol...

  • May 15- Some of the top U.S. hedge fund investors and activists, including Jana Partners LLC took new positions or raised their equity stakes in fast food chain McDonald's Corp during the first quarter, according to regulatory filings on Friday. Highfields Capital Management LP raised its stake more than 1,000 percent to 9.8 million shares, valued at about...

  • NEW YORK, May 15- Top U.S. hedge fund management firms, including Dan Loeb's Third Point LLC and Farallon Capital Management, trimmed some of their equity exposure in eBay Inc, but kept high positions in the e-commerce company's shares during the first quarter, according to regulatory filings. MD Sass Investors Services Inc liquidated its position in eBay,...

  • NEW YORK, May 15- Top U.S. hedge fund management firms, including Leon Cooperman's Omega Advisors and Philippe Laffont's Coatue Management, continued to reduce or slash stakes altogether in Apple Inc during the first quarter, as shares of the iPhone maker rallied. David Einhorn's Greenlight Capital also cut its exposure in Apple during the first quarter,...

  • NEW YORK, May 15- Top U.S. hedge fund managers increased their stakes in Alibaba Group Holding Ltd at the end of the first quarter, positioning themselves to take advantage of any upswing after the Chinese e-commerce company's stock took a beating after a surprise revenue miss in January. Soros Fund Management LLC, Tiger Global Management LLC, Viking Global...

  • NEW YORK, May 15- Top U.S. hedge fund management firms, including Leon Cooperman's Omega Advisors and Philippe Laffont's Coatue Management, continued to reduce or slash stakes altogether in Apple Inc during the first quarter, as shares of the iPhone maker rallied. Omega Advisors sold all of its 383,790 shares in Apple during the first quarter, while Rothschild...

  • Daniel Loeb's Third Point dissolves stake in Alibaba Friday, 15 May 2015 | 1:19 PM ET

    NEW YORK, May 15- Hedge fund manager Daniel Loeb's Third Point LLC exited its position in Alibaba Group Holding Ltd at the end of the first quarter, the same period during which the Chinese e-commerce company posted a surprise revenue miss that sent its shares plunging. Third Point's decision to slash its 10 million-share stake in Alibaba comes after the hedge...

  • NEW YORK, May 15- Top U.S. hedge fund management firms, including Leon Cooperman's Omega Advisors and Philippe Laffont's Coatue Management, continued to reduce or slash stakes altogether in Apple Inc during the first quarter, according to regulatory filings. Omega Advisors sold all of its 383,790 shares of the iPhone maker during the first quarter.

  • HSBC's ultra-rich unit to get new leader Friday, 15 May 2015 | 11:17 AM ET
    Man walks past HSBC bank branch

    HSBC, one of the largest hedge fund investors in the world, has changed the leadership of a key private banking unit.

  • The data weren't all that great, but the story is people still see the Federal Reserve raising interest rates later this year, "said Kathy Lien, managing director at BK Asset Management in New York. The euro was up 0.2 percent to $1.1431, a tad below a three-month high of $1.1445 on Thursday and about 9 percent higher than a 12- year low of $1.0457 reached on March 16.

  • May 14- Hedge fund Magnetar Capital said Blackstone Group LP has bought a minority interest in it for an undisclosed sum. Magnetar, co-founded in 2005 by Alec Litowitz and Ross Laser, focuses on investing in corporate events, fixed income and energy. New-York based Blackstone has invested roughly $55 billion in hedge funds and has raised more than $2 billion for...

  • May 14- Pimco's global equities Chief Investment Officer Virginie Maisonneuve is leaving after less than a year and a half as the bond investment giant narrows its stock-investing focus, it said on Thursday. Hodge said Pimco would continue to manage dividend and long-short strategies and expand the firm's enhanced equities strategies, including those in...

  • May 14- Pimco's global equities Chief Investment Officer Virginie Maisonneuve is leaving the bond powerhouse, it said on Thursday, less than a year and a half after she was hired. In September, Bill Gross, co-founder of Pacific Investment Management Co, left his post as chief investment officer and joined mutual fund management firm Janus Capital, a move that...

  • "I don't think the market is ready to see $80 to $90 oil in the short term," the manager of the $450 million London- based Andurand Capital told Reuters ahead of his speech at an industry conference in New York on the direction of oil. The decline, which started in June, was largely due to lower-than-expected demand growth, fewer supply disruptions with the recovery of...

  • *Shake Shack climbs after raising forecast. May 14- Wall Street was set to open higher on Thursday as weekly jobless claims fell, suggesting that the labor market was on solid footing even as the economy struggles to regain momentum. It's not great, but it's not bad either, "said David O'Malley, chief executive of Penn Mutual Asset Management, which oversees about $20...

  • OM Asset Management beats 1Q profit forecasts Thursday, 14 May 2015 | 8:03 AM ET

    LONDON _ OM Asset Management PLC on Thursday reported first-quarter earnings of $34.2 million. The asset manager, a unit of London- based Old Mutual, posted revenue of $160.6 million in the period. OM Asset Management shares have increased 21 percent since the beginning of the year.

  • SAFT ON WEALTH -Smart beta, wholesale may beat retail Wednesday, 13 May 2015 | 5:42 PM ET

    May 13- U.S. equity investors might be better off getting their smart beta wholesale, or rather via a simple do-it-yourself strategy. Carried out by Denys Glushkov of the University of Pennsylvania, the study found "no evidence" that smart beta funds can significantly beat their risk-adjusted passive investment benchmarks. True smart beta ETFs now account for...

  • *Euro zone economy picks up pace but Germany lags. "The market is basically convinced that the Fed is not going to do anything until the consumer shows some strength," said Boris Schlossberg, managing director of FX strategy at BK Asset Management in New York. Gold jumped, rising well above $1,200 an ounce to a five-week high as the dollar fell.

  • NEW DELHI/ MUMBAI, May 13- A surprise delay to India's first nationwide sales tax marks one of the most painful setbacks suffered by Prime Minister Narendra Modi's government as it nears the end of a first year in power, with markets falling and farmers braced for a poor monsoon. The introduction of the goods and service tax would constitute India's biggest tax...

  • NEW YORK, May 12- Jeffrey Gundlach, chief executive of investment firm DoubleLine Capital, said Puerto Rico municipal bonds represent about 1 percent of his DoubleLine closed-end fund. In an investor call on Tuesday, Gundlach said Puerto Rico is not a "big bet" for the $2.2 billion DoubleLine Income Solutions Fund. Gundlach did purchase some pension obligations...