WASHINGTON, Oct 24- The U.S. Treasury Department said on Friday it was tweaking its policy for retirement funds to encourage savers to buy annuities, a measure aimed to keep them from outliving their savings. The department and the Internal Revenue Service will let retirement funds offer long-term deferred annuities as a default investment in 401 retirement...» Read More
Bill Gross, who built Pimco into a $2 trillion asset manager and became one of the world's best-known bond investors, quit the firm he co-founded on Friday after his flagship fund suffered its 16th straight month of outflows and amid a Securities and Exchange Commission probe into whether one of his funds artificially inflated returns.
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.
*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.
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- 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.
Sept 17- The California Public Employees' Retirement System said Ted Eliopoulos would assume the role of chief investment officer at America's largest public pension fund. The $300 billion fund, known as Calpers, invests with firms including Och-Ziff Capital Management, Deepak Narula's Metacapital Management and Bain Capital's Brookside Capital.
Sept 17- The California Public Employees' Retirement System said Ted Eliopoulos would assume the role of chief investment officer at the nation's largest public pension fund. The $300 billion fund, known as CalPERS, invests with firms including Och-Ziff Capital Management, Deepak Narula's Metacapital Management and Bain Capital's Brookside Capital.
BOSTON, Sept 17- Despite the recent rebuke of hedge funds by the influential California Public Employees' Retirement System, other investors are pumping billions into these portfolios, boosting industry assets to a record $3.1 trillion, data released on Wednesday show.
COPENHAGEN, Sept 17- European pension funds could become more, rather than less adventurous in their investment strategies after the European Union introduces tough new rules on capital requirements, if the experience of similar rules in Denmark is any pointer.
Sept 15- The California Public Employees' Retirement System, the largest U.S. pension fund, said on Monday that it will pull all $4 billion it has invested in hedge funds because it finds them too costly and complicated.
NEW YORK, Sept 10- The Pimco Total Return Fund, overseen by Bill Gross, decreased its U.S. government-related holdings for a third straight month in August to 41 percent from 45 percent in July, Pimco's website said on Wednesday.
NEW YORK, Sept 10- A New York state pension fund has given Goldman Sachs Group Inc $2 billion to invest with outside managers, Goldman and the fund said in a statement on Wednesday, a first for a fund that has traditionally picked managers itself.
Sept 8- Hundreds of hedge funds, mutual funds and other institutional investors lined up on Monday to hear Alibaba Group Holding Ltd's management pitch the company's shares, as the Chinese e-commerce giant kicked off a two-week IPO marketing blitz.
LONDON, Sept 8- With returns on government bonds at rock-bottom prices, sovereign wealth funds are muscling into stock markets and other higher-yielding assets like real estate at a rate that private investors warn could destabilise the world economy.
HONG KONG, Sept 8- When stock researcher Anonymous Analytics accused China's Tianhe Chemicals last week of doctoring the books ahead of a Hong Kong IPO, it was pitting itself against one of Asia's top private equity firms, Morgan Stanley Private Equity Asia.