Dec 19- The biggest investor in Meredith Whitney's hedge fund has demanded his money back and two executives have left in the past month, Bloomberg reported, citing a person with knowledge of the firm. Chief Financial Officer Andrew Turchin has also exited, Bloomberg said, quoting the source. Whitney's fund started trading in November 2013 with about $50 million...» Read More
Sept 26- Bill Gross, one of the bond market's most renowned investors, is leaving Pimco, the asset management firm he founded, for rival asset management firm Janus Capital Group, Janus said on Friday.
DUBAI, Sept 25- Shares in Dubai retailing and restaurants start-up Marka jumped 59 percent on Thursday in the first flotation on the emirate's main stock market since 2009, showing a hunger for fresh equity among local retail investors. Marka shares closed at 1.59 dirhams on the Dubai Financial Market, up from their initial public offer price of 1.00 dirham.
LONDON, Sept 25- JPMorgan was the top performing investment bank in the first half of the year, making $11.5 billion in revenue and ranking first for both its fixed income and deals advisory businesses, data showed on Thursday.
*151 founders include top UAE businessmen. DUBAI, Sept 25- Shares in Dubai retailing and restaurants group Marka jumped 77 percent upon listing on Thursday in the first flotation on the emirate's main stock market since 2009..
VANCOUVER, Sept 25- The price of gold, down more than a third in three years, is approaching the tipping point where the mining industry would see a spike in the number of producers reducing output or even shutting down operations. The industry has geared itself around $1,200, "said Joseph Foster, portfolio manager at institutional investor Van Eck Global.
BOSTON, Sept 24- Harvard University on Wednesday named an insider, Stephen Blyth, to run its $36.4 billion endowment, the world's largest. The financial services industry veteran holds a statistics PhD from Harvard, and has taught the subject there.
BOSTON, Sept 24- Yale University's endowment posted a 20.2 percent return in the 2014 fiscal year, the school said on Wednesday, besting Ivy League rivals such as Harvard and Dartmouth. Harvard University's endowment, the largest school endowment in the world at over $34 billion, announced on Tuesday an investment return of 15.4 percent.
LONDON, Sept 24- The order book for the Netherlands' new five-year bond closed at 13.7 billion euros on Wednesday, the Dutch State Treasury said. Real money accounts such as asset and fund managers as well as pension funds accounted for 35 percent of the orders, it said in a statement.
HONG KONG, Sept 24- Shanghai shares finished at their highest in more than 1-1/ 2 years on Wednesday, helped by brokerage firms which rose amid optimism over policy reforms. Among top CSI300 contributors, CITIC Securities leapt 3.5 percent, Haitong Securities put on 3.3 percent, and Changjiang Securities surged the maximum allowed 10 percent.
*UniCredit, Santander to hold around one third each of new entity. MILAN, Sept 23- Italian bank UniCredit SpA and Spain's Santander SA are in talks to merge their fund management businesses and create a European powerhouse overseeing some 350 billion euros of assets.
*UniCredit selling up to 50 pct stake in asset manager unit. Sept 23- Spanish bank Santander and Italian rival UniCredit are close to a deal to combine their asset management businesses to create a European fund managing powerhouse, sources close to the matter told Reuters.
Sept 23- OM Asset Management Ltd, a unit of Anglo-South African financial group Old Mutual Plc, is expected to raise about $374 million in its initial public offering.
Sept 23- OM Asset Management Ltd, a subsidiary of British insurer Old Mutual Plc, said it expects its initial public offering of 22 million shares to be priced between $15 and $17 each.
NEW YORK, Sept 22- Private equity firm Silver Lake is in advanced talks to acquire online photo-sharing service Shutterfly Inc for at least $2 billion, people familiar with the matter said on Monday. Silver Lake has outbid other buyout firms in an auction for Shutterfly and is now negotiating the terms of an acquisition, the sources said.
TOKYO, Sept 22- Japanese government bond prices ended higher on Monday as some dealers covered their short positions after a fall in yields on German Bunds and U.S. Some domestic institutional investors bought long-term and super-long JGBs sporadically as they rolled over funds from a large number of JGBs that have just matured.
NEW YORK, Sept 19- Merrill Lynch fired two veteran brokers from its Private Banking and Investment Group two weeks ago for guiding clients to invest in a hedge fund outside of the brokerage firm.
NEW YORK, Sept 19- Merrill Lynch summarily fired two veteran brokers from its elite Private Banking and Investment Group two weeks ago for guiding clients to invest in a hedge fund outside of the brokerage firm.
NEW YORK, Sept 19- The California State Teachers' Retirement System pension fund plans to nearly triple its investments in clean energy and technology to $3.7 billion over the next five years in a push toward low-carbon investments, the fund said on Friday.
Sept 18- Major institutional investors such as BlackRock will likely receive the bulk of roughly $22 billion worth of Alibaba Group Holdings shares being sold in an initial public offering set to price later on Thursday, people familiar with the situation said.
Sept 18- Big institutional investors like Blackrock will likely get the bulk of roughly $22 billion worth of Alibaba Group Holdings shares being sold in an initial public offering set to price later on Thursday, people familiar with the situation said.