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Diversified Financials Capital Markets

  • Sept 19- U.S. investment bank Jefferies Group LLC's third-quarter profit more than doubled from a year ago, as it earned more from advising on debt and equity financing as well as mergers and acquisitions. Jefferies said on Tuesday net income attributable to the company rose to $83.8 million in the quarter ended Aug. 31, compared with $41.2 million, a year earlier.

  • BOSTON, Sept 18- Top U.S. asset managers took a slightly tougher line on executive pay in the advisory votes they cast at S&P 500 companies this year, a research firm said on Monday. "For the layman it's not a huge shift, but you can see there are more votes that are going against" management, said Nick Dawson, managing director of Proxy Insight. In an e-mailed statement,...

  • BOSTON, Sept 18- Top U.S. asset managers took a slightly tougher line on executive pay in the advisory votes they cast at S&P 500 companies this year, a research firm said on Monday. For the 12 months ended June 30, funds run by BlackRock Inc, Vanguard Group and State Street Corp each supported management recommendations on executive pay about 2 percentage points...

  • BOSTON, Sept 18- The number of hedge funds closing their doors this year is slowing as investors add new money and performance improves. Notable funds that have gone out of business this year include Eric Mindich's Eton Park Capital Management. More recently, John Burbank's Passport Capital announced plans to shut its long-short equity fund.

  • *Anglo American popular with hedge funds. LONDON, Sept 18- Hedge fund investment in the metals industry is at its highest since 2011, according to investment data, a sign that investors are hoping to profit from a rise in prices that have spent years in the doldrums. That oversupply crisis led to the closure of some specialist metals hedge funds, including those run...

  • *Anglo American popular with hedge funds. LONDON, Sept 18- Hedge fund investment in the metals industry is at its highest since 2011, according to investment data, a sign that investors are hoping to profit from a rise in prices that have spent years in the doldrums. That oversupply crisis led to the closure of some specialist metals hedge funds, including those run...

  • LONDON, Sept 18- Around 10,000 finance jobs will be shifted out of Britain or created overseas in the next few years if the UK is denied access to Europe's single market, according to a Reuters survey of firms employing the bulk of workers in international finance. Reuters approached 158 banks, asset managers, private equity firms, insurers and exchanges with UK...

  • LONDON, Sept 18- Around 10,000 finance jobs will be shifted out of Britain or created overseas in the next few years if the UK is denied access to Europe's single market, according to a Reuters survey of firms employing the bulk of workers in international finance. Reuters approached 158 banks, asset managers, private equity firms, insurers and exchanges with UK...

  • ABOUT 100 JOBS AFFECTED AT INSURERS, 300 AT ASSET MANAGERS- REUTERS SURVEY.

  • LONDON, Sept 18- Hedge funds continue to wager on a shortage of refined fuels driving prices higher, even as U.S. refineries gradually restart operations in the aftermath of Hurricane Harvey. Hurricane-related flooding caused extensive disruption to the major U.S. refining centre along the Gulf of Mexico in the first half of September. Hedge funds and other...

  • LONDON, Sept 15- Four major asset managers said on Friday they no longer planned to ask clients to pick up the bill for external investment research when new European Union rules come into force in January 2018. Germany's Union Investment, Britain's Schroders and U.S. peers Invesco and Janus Henderson had all planned to pass on some or all of the costs to investors...

  • LONDON, Sept 15- Three major asset managers said they no longer planned to ask clients to pick up the bill for external research when new European Union legislation comes into force in January 2018. Germany's Union Investment, Britain's Schroders and U.S. peer Invesco had all planned to pass on some or all of the costs to investors in their funds, but since then many...

  • Sep 15- Global banks have said they could move thousands of jobs out of Britain to prepare for Brexit, the country's planned exit from the European Union. The association expects 3,000 to 5,000 new jobs in Frankfurt over the next two years as a result of Brexit, its head Stefan Winter, of UBS, told German newspaper Welt am Sonntag in June. Bank of America became the...

  • LONDON, Sept 15- Scottish hedge fund manager Hugh Hendry, famed for his combative style, is shutting the fund he founded 15 years ago after two back-to-back years of losses, according to a letter to investors seen by Reuters. At its peak in 2013, Eclectica Asset Management had $1.3 billion in assets under management, before several years of outflows coinciding...

  • Sept 14- Hedge fund D.E. Shaw& Co LP on Thursday urged EQT Corp, which is buying Rice Energy Inc in a $6.7 billion deal, to split into two parts after the deal and to speed up efforts to boost the company's stock price. The move marks a rare activist stance taken by the $40 billion hedge fund and pits it next to activist fund Jana Partners, which is urging EQT to scrap the Rice...

  • *Yacktman owns $1.3 bln worth of P&G shares. Sept 14- Investment advisory firm Yacktman Asset Management said it would support the addition of Trian Fund Management LP's Nelson Peltz to Procter& Gamble Co's board and criticized the company for engaging in "a costly and distracting proxy fight" with the activist investor. Yacktman said it owned $1.3 billion worth...

  • Sept 14- Investment advisory firm Yacktman Asset Management said it would support the addition of Trian Fund Management LP's Nelson Peltz to Procter& Gamble Co's board and criticized the company for engaging in "a costly and distracting proxy fight" with the activist investor. Yacktman said it owned $1.3 billion worth of P&G shares and cited Peltz's sizeable...

  • NEW YORK— What is the sound of a stock market at a record high and nobody buying it? "It's still one of the first things that comes up" when Brian Jacobsen, chief portfolio strategist at Wells Fargo Funds Management, talks with clients and even some friends. Through the first seven months of this year, investors pulled a net $8 billion out of U.S. stock funds.

  • MILAN/ LONDON, Sept 14- Tyremaker Pirelli may struggle to get the 9 billion-euro valuation sought by its owners on its return to Milan's stock market next month, with several fund managers saying they will not invest if it is valued at more than 7.5 billion euros. But four Italian fund managers said the group was worth between 7 and 7.5 billion euros, representing an...

  • Sept 14- Investment advisory firm Yacktman Asset Management said it would support the addition of Trian Fund Management LP's Nelson Peltz to Procter& Gamble Co's board and criticized the company for engaging in "a costly and distracting proxy fight" with the activist investor. Yacktman said it owned $1.3 billion worth of P&G shares and cited Peltz's sizeable...