(Corrects paragraph 5 of November 6 story to remove reference to Macquarie) (Reuters) -Australia’s securities watchdog raised fresh concerns over retirement savings advice on Thursday, finding that more than a fourth of cases reviewed showed advisers giving recommendations that could seriously harm people’s nest eggs. The Australian Securities and Investments Commission said 27 out of …
By Anirban Sen and Nell Mackenzie NEW YORK (Reuters) -Citadel’s flagship fund Wellington posted a 1.8% return in October, boosting the fund’s performance for the year to 6.8%, according to a person familiar with the matter. Other funds at Citadel, which was founded by billionaire Ken Griffin, also delivered positive returns for investors. Miami-based Citadel’s …
Citadel’s flagship fund gained 1.8% in October, source says Read More »
(Reuters) -Loews Corp reported a rise in third-quarter profit on Monday, as lower catastrophe losses benefited its insurance unit. Insurance spending has been steady despite mounting macroeconomic uncertainty as businesses and individuals continued to seek protection against financial risks, property damage and natural disasters. The absence of major catastrophes can cause a tailwind to insurers …
Loews’ quarterly profit rises on strong performance in insurance business Read More »
By Suzanne McGee (Reuters) -Investors are directing money into U.S.-based exchange-traded funds at a rapid clip, pushing inflows so far this year across the $1 trillion line, State Street Investment Management said on Tuesday. That puts U.S. ETF inflows on pace to set a new annual record of as much as $1.4 trillion by the …
By Suzanne McGee (Reuters) -Trustees overseeing two exchange-traded funds recently launched by startup asset management firm Azoria Capital LLC said they have voted to liquidate and terminate both the Azoria 500 Meritocracy ETF and the Azoria Tesla Convexity ETF, according to a notification filed with the U.S. Securities and Exchange Commission late on Wednesday. The …
Trustees vote to shutter two ETFs from startup manager Azoria Capital Read More »
(Reuters) -Consumer lender Synchrony Financial on Wednesday reported a rise in third-quarter profit, helped by higher interest income as customers spent more on online purchases. The company’s net interest income — the difference between what a lender earns on loans and pays on deposits — rose 2.4% to $4.72 billion. Despite higher borrowing costs and …
Synchrony Financial third quarter profit rises on resilient online spending Read More »
By Nell Mackenzie LONDON (Reuters) -Wealthy investors in the United States and Asia have cancelled plans to put money into U.S. hedge funds this year, while increasing their exposure to Europe and the Middle East, according to a Bank of America survey seen by Reuters on Thursday. Half of the allocators who told Bank of America …
US, Asian investors turn to European and MidEast hedge funds, BofA survey shows Read More »
By Christy Santhosh (Reuters) -Activist investor Engine Capital has urged Acadia Healthcare to add directors to its board and explore a potential asset sale to fund buybacks, sending the company’s shares up nearly 9% in afternoon trading. Engine Capital, which owns about a 3% stake in the operator of centers that help people with mental …
Activist Engine Capital pushes for changes at Acadia Healthcare Read More »
By Tatiana Bautzer and Saeed Azhar NEW YORK (Reuters) – Goldman Sachs and asset manager T. Rowe Price, which announced a partnership earlier this month, plan to begin offering new alternative investments for wealthy clients by the end of the year, their executives told Reuters. Alternative investments for retirement accounts will be offered next year, …
By Nell Mackenzie LONDON (Reuters) -Hedge funds bought U.S. stocks at the fastest pace in seven weeks during the week to August 15, in anticipation of a long awaited interest rate cut expected from the Federal Reserve in September, according to a Goldman Sachs client note. Hedge funds bought indices and financial products that rise …
Hedge funds snap up US stocks ahead of likely Fed rate cuts, says Goldman Sachs Read More »
