FILE PHOTO – The logo of Dow Jones Industrial Average stock market index listed company Procter & Gamble (PG) is seen on a tube of toothpaste in Los Angeles, California, United States, April 25, 2016. REUTERS/Lucy Nicholson Trian Fund Management LP disclosed a... More »
The logo of the pharmaceutical company Stada Arzneimittel AG is pictured at its headquarters in Bad Vilbel near Frankfurt March 14, 2012. REUTERS/Alex Domanski German generic drugmaker Stada (STAGn.DE) said it has received two offers for the acquisition of the... More »
The Vanguard Group topped $4 trillion in assets for the first time at the end of January after a year in which it pulled in more money than all of its rivals combined, the Wall Street Journal reported. More »
Hedge fund manager Dan Loeb’s Third Point LLC took new equity stakes in Goldman Sachs Group Inc, Bank of America Corp, JPMorgan Chase & Co during the fourth quarter, according to regulatory filings on Friday, on a bet that interest rate hikes and operating lev... More »
European investors are piling into exchange-traded funds, favoring those that mimic active fund managers, in a market where traditional trading relationships between assets are breaking down. More »
A sign is displayed in the reception of Goldman Sachs in Sydney, Australia, May 18, 2016. REUTERS/David Gray/File Photo Goldman Sachs Investment Partners (GSIP), which opened in 2008 with one of the biggest launches in hedge fund history, is folding its London... More »
U.S. President Donald Trump speaks to members of the law enforcement at the Major Cities Chiefs Association (MCCA) Winter Conference in Washington, U.S., February 8, 2017. REUTERS/Joshua Roberts Bayliss More »
FILE PHOTO – Leon G. Cooperman, CEO of Omega Advisors, Inc., speaks on a panel at the annual Skybridge Alternatives Conference (SALT) in Las Vegas May 7, 2015. REUTERS/Rick Wilking A U.S. judge on Tuesday held off ruling on whether to throw out a government co... More »
The offices of Pacific Investment Management Co (PIMCO) are shown in Newport Beach, California August 4, 2015. REUTERS/Mike Blake Investors pulled $1.6 billion from the Pimco Total Return Fund in January, leaving assets under management of $75 billion, Morning... More »
Bill Gross, co-founder of Pacific Investment Management Company (PIMCO), speaks at the Morningstar Investment Conference in Chicago, Illinois, in this file photo dated June 19, 2014. REUTERS/Jim Young Bond investor Bill Gross said on Monday that without quanti... More »
A Connecticut hedge fund manager has pleaded guilty in a case linked to an alleged Ponzi scheme involving the resale of tickets for popular events, including smash Broadway musical “Hamilton.” More »
File photo of Kevin Turner taken at the Milken Institute Global Conference in Beverly Hills, California, U.S., May 2, 2016. REUTERS/Lucy Nicholson Kevin Turner has departed Ken Griffin’s Citadel LLC less than a year after he joined as chief executive officer o... More »
Lee S. Ainslie III, founder of Maverick Capital speaks at the 6th Annual New York Value Investing Congress in New York City, October 12, 2010. REUTERS/Mike Segar Bayliss More »
The BlackRock sign is pictured in the Manhattan borough of New York, in this October 11, 2015 file photo. REUTERS/Eduardo Munoz/Files Former British finance minister George Osborne, who lost his job after Britain’s vote to leave the European Union, will join B... More »
Citadel Securities, the market-making arm of billionaire hedge-fund manager Ken Griffin, has agreed to pay $22.6 million to settle charges that it misled customers about the way it priced trades, the U.S. Securities and Exchange Commission said on Friday. More »
The BlackRock logo is seen at the BlackRock Japan headquarters in Tokyo, Japan, October 20, 2016. REUTERS/Toru Hanai BlackRock Inc, the world’s biggest asset manager, reported better-than-expected quarterly profits on Friday as it clamped down on expenses and ... More »
An American Apparel store logo is pictured on a building along the Lincoln Road Mall in Miami Beach, Florida March 17, 2016. REUTERS/Carlo Allegri Canadian apparel maker Gildan Activewear Inc (GIL.TO) has won a bankruptcy auction for U.S. fashion retailer Amer... More »
FILE PHOTO – Defendant Wing Chau exits the Jacob Javits Federal building in New York, U.S. on April 7, 2014. REUTERS/Brendan McDermid/File Photo The U.S. Securities and Exchange Commission has partially overturned a ruling finding an investment adviser feature... More »
Hedge fund investor Leon Cooperman, the chief executive of Omega Advisors, told CNBC on Thursday his firm’s assets had shrunk to $3.4 billion after the U.S. Securities and Exchange Commission’s insider trading charges. More »
An electoral poster of Donald Trump is displayed on the floor of the New York Stock Exchange (NYSE) the morning after the U.S. presidential election in New York City, U.S., November 9, 2016. REUTERS/Brendan McDermid For some equity funds and those betting on m... More »
A Chipotle Mexican Grill is seen in Los Angeles, California, U.S. on April 25, 2016. REUTERS/Lucy Nicholson/File Photo Bayliss More »
A Gabonese man who prosecutors say acted as a “fixer” for a joint-venture involving the hedge fund Och-Ziff Capital Management Group LLC pleaded guilty on Friday to U.S. charges that he engaged in a foreign bribery scheme. More »
Investors are paying a price for not finding buyers for popular exchange-traded notes (ETN), used to bet on oil prices, that delisted from U.S. exchanges this week. More »
The Bank of Italy logo is seen at the company’s headquarters in Milan, Italy, January 19, 2016. REUTERS/Stefano Rellandini/File Photo Speculators convinced the euro zone faces fresh instability have zeroed in on Italy’s constitutional reform referendum on Sund... More »
Discount sale tags are seen on clothes at a department store in Paris on the first day of the winter sales in France, January 6, 2016. REUTERS/Benoit Tessier/File Photo Retailers have long relied on sales of high-margin winter coats and boots to boost annual p... More »
U.S. President-Elect Donald Trump speaks at event at Carrier HVAC plant in Indianapolis, Indiana, U.S., December 1, 2016. REUTERS/Chris Bergin Some big hedge funds got a bump in November after Donald Trump’s surprise U.S. presidential election victory sent sto... More »
A packet of former U.S. President Abraham Lincoln five-dollar bill currency is inspected at the Bureau of Engraving and Printing in Washington March 26, 2015. REUTERS/Gary Cameron/File Photo The DoubleLine Total Return Bond Fund had net outflows of $1.4 billio... More »
William Ackman, founder and CEO of hedge fund Pershing Square Capital Management, speaks during the Sohn Investment Conference in New York May 4, 2015. REUTERS/Brendan McDermid Bayliss More »
Wing Chau exits the Jacob Javits Federal building in New York April 7, 2014. REUTERS/Brendan McDermid An investment adviser featured in best-seller “The Big Short” failed to persuade a federal appeals court to shut down a U.S. Securities and Exchange Commissio... More »
A two Euro coin is pictured next to an English ten Pound note in an illustration taken March 16, 2016. REUTERS/Phil Noble/Illustration/File Photo Euro zone governments are increasingly relying on hedge funds to help them meet their borrowing needs, which risks... More »
The logo of Samsung Electronics is seen at its headquarters in Seoul, South Korea, July 4, 2016. REUTERS/Kim Hong-Ji/File Photo South Korea’s Samsung Electronics Co Ltd (005930.KS) will consider splitting itself into two as proposed by U.S. activist hedge fund... More »
Investors pulled more money from U.S.-based bond funds during the latest week, Lipper data showed on Friday, adding to an onslaught following the U.S. presidential election. More »
Billionaire activist-investor Carl Icahn gives an interview on FOX Business Network’s Neil Cavuto show in New York February 11, 2014. REUTERS/Brendan McDermid U.S. voters’ decision to install Donald Trump in the White House may extend the life of the aging, se... More »
Steven Einhorn, Vice Chairman of Omega Advisors, Inc., speaks during the Reuters Global Investment Outlook Summit in New York City, NY, U.S. November 14, 2016. REUTERS/Brendan McDermid Bayliss and Lawrence Delevingne More »
Hedge funds have struggled of late to keep up their reputation as the sports cars of the investment world, often overtaken in the race for returns by the public buses of portfolios, index funds. More »
Morning commuters pass by the New York Stock Exchange (NYSE) in New York City, U.S., November 10, 2016. REUTERS/Brendan McDermid Donald Trump’s stunning victory for the White House may mark the long-awaited end to the more than 30-year-old bull run in bonds, a... More »
New York financier Lynn Tilton, (L) founder of private equity firm Patriarch Partners, exits the U.S. District courthouse with her lawyer Randy Mastro (R) in New York City, U.S., November 1, 2016. REUTERS/Brendan McDermid A lawyer for financier Lynn Tilton on ... More »
William Ackman, founder and CEO of hedge fund Pershing Square Capital Management, speaks during the Sohn Investment Conference in New York May 4, 2015. REUTERS/Brendan McDermid Billionaire investor William Ackman on Thursday said he has had an “extremely const... More »
Andrew Caspersen and his wife Christina Caspersen depart following his sentencing at the U.S. Federal Court in New York City, U.S., November 4, 2016. REUTERS/Brendan McDermid Former Wall Street executive Andrew Caspersen was sentenced on Friday to four years i... More »
New York financier Lynn Tilton, (L) founder of private equity firm Patriarch Partners, exits the U.S. District courthouse with her lawyer Randy Mastro (R) in New York City, U.S., November 1, 2016. REUTERS/Brendan McDermid Financier Lynn Tilton took the stand o... More »
The logo of Chipotle Mexican Grill is seen at a restaurant in Paris, March 7, 2016. REUTERS/Charles Platiau Bayliss and Lisa Baertlein More »
Hedge fund Och-Ziff Capital Management, which recently settled a bribery charge with the U.S. government, warned on Wednesday that investors are likely to keep pulling money out of the firm. More »
A sign is displayed in the reception of Goldman Sachs in Sydney, Australia, May 18, 2016. REUTERS/David Gray/File Photo Goldman Sachs Group Inc has launched a new exchange traded fund that mimics the most popular stock bets made by hedge funds, the bank said o... More »
Jeffrey Gundlach, Chief Executive Officer, DoubleLine Capital LP., speaks at the Sohn Investment Conference in New York City, U.S. May 4, 2016. REUTERS/Brendan McDermid Federal Reserve Chair Janet Yellen’s speech on Friday on running a “high pressure” economy ... More »
Britain’s Prime Minister Theresa May gives her speech on the final day of the annual Conservative Party Conference in Birmingham, Britain, October 5, 2016. REUTERS/Toby Melville/File Photo Prime Minister Theresa May criticized Britain’s finance industry for fa... More »
A San Francisco-based hedge fund has filed a lawsuit against Theranos Inc, accusing the blood testing company of using fraudulent methods to attract an investment of nearly $100 million, according to an investor letter filed by the fund. More »
The BlackRock logo is seen outside of its offices in New York January 18, 2012. B REUTERS/Shannon Stapleton/File Photo BlackRock Inc (BLK.N), the world’s largest asset manager, will offer infrastructure funds for the first time through independent financial ad... More »
Jeffrey Gundlach, Chief Executive Officer, DoubleLine Capital LP., speaks at the Sohn Investment Conference in New York City, U.S. May 4, 2016. REUTERS/Brendan McDermid Jeffrey Gundlach, chief executive of DoubleLine Capital, said on Thursday that investors sh... More »
The U.S. Securities and Exchange Commission logo adorns an office door at the SEC headquarters in Washington, June 24, 2011. REUTERS/Jonathan Ernst Och-Ziff Capital Management Group LLC will pay $412 million and CEO Daniel Och will pay $2.17 million to resolve... More »
A Chipotle Mexican Grill is seen in Los Angeles, California, U.S. on April 25, 2016. REUTERS/Lucy Nicholson/File Photo Fidelity’s Contrafund (FCNTX.O), the largest mutual fund investor in Chipotle Mexican Grill Inc (CMG.N), cut its stake in the struggling burr... More »
Leon G. Cooperman Chairman, Omega Advisors, speaks on a panel discussion at the annual Skybridge Alternatives Conference (SALT) in Las Vegas May 9, 2013. REUTERS/Rick Wilking On Oct. 5, the U.S. Supreme Court will hear oral arguments on a question that has cre... More »
An $8 billion hedge fund run by billionaire Michael Platt has yet to give investors all their money back nine months after the fund was shuttered, a spokesman for the fund and three of its investors told Reuters. More »
A U.S. insurance company that works with more than 70,000 elderly policy holders to meet their healthcare needs is aiming to cut all of its financial ties to troubled hedge fund manager Platinum Partners by the end of the year. More »
The offices of Pacific Investment Management Co (PIMCO) are shown in Newport Beach, California August 4, 2015. REUTERS/Mike Blake Bond fund manager Bill Gross on Friday said Pacific Investment Management Co and its lawyers should be punished for unfairly imped... More »
A general view shows a construction site in London, Britain July 7, 2016. REUTERS/Neil Hall There is significant money to be made in Europe by investing and lending where local banks cannot, two prominent private fund managers told attendees of a U.S. hedge fu... More »
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, New York, U.S., September 9, 2016. REUTERS/Brendan McDermid Bayliss More »
William Ackman, founder and CEO of hedge fund Pershing Square Capital Management, speaks during the Sohn Investment Conference in New York May 4, 2015. REUTERS/Brendan McDermid Bayliss More »
Jeffrey Gundlach, Chief Executive Officer, DoubleLine Capital LP., speaks at the Sohn Investment Conference in New York City, U.S. May 4, 2016. REUTERS/Brendan McDermid – RTX2CW2U Jeffrey Gundlach’s DoubleLine posted a net inflow of $790.23 million into its op... More »
An Herbalife logo is shown on a poster at a clinic in the Mission District in San Francisco, California April 29, 2013. REUTERS/Robert Galbraith/File Photo Bayliss More »
By Richard Leong and Ross Kerber | NEW YORK/BOSTON NEW YORK/BOSTON Legg Mason Inc’s Bill Miller, whose mutual fund beat the S&P 500 handily for 15 consecutive years at the turn of the century, is riding off into the sunset after his recent lagging returns left... More »
NEW YORK A federal appeals court on Wednesday rejected a new bid by five former employees of Bernard Madoff’s firm to overturn their convictions for helping their boss conceal his Ponzi scheme, which cost customers more than $17 billion. The order by the 2nd U... More »
NEW YORK Jeffrey Gundlach, the chief executive of DoubleLine Capital, said on Friday that many asset classes look frothy and his firm continues to hold gold, a traditional safe-haven, along with gold miner stocks. Noting the recent run-up in the benchmark Stan... More »
BOSTON Billionaire investor David Einhorn’s Greenlight Capital added strong gains in July which helped increased the fund’s gains for the year since Jan. 1 to 5.7 percent after the stock market climbed, a person familiar with the firm’s returns said. Greenligh... More »
BOSTON/NEW YORK It only took six months for some of the world’s most prominent team-based hedge funds to go from winners to losers. Blackstone Group’s Senfina Advisors, Citadel’s Global Equities Fund and the Visium Global Fund were among the so-called multi-ma... More »
BOSTON Billionaire investor Steven A. Cohen is committing $250 million to a Boston-based investment firm that lets scientists, developers and students submit computerized investment models and then picks the most promising ones to manage the money. Quantopian,... More »
TOKYO/SINGAPORE The phenomenal success of Pokemon GO and the surge in Nintendo Co’s (7974.T) market value by $17 billion in just over a week has been seized upon by one of its most vocal investors to press for a change of strategy at the company. Until Pokemon... More »
LONDON As hedge fund manager Buford Scott sat at home, watching the TV in shock as it emerged Britain had voted to leave the European Union, his computer-based trading models were quietly boosting his business by 1.5 percent. Scott’s algorithm-driven fund, and... More »
SEOUL South Korea’s National Pension Service (NPS), the world’s third-largest pension fund, said it had chosen a BlackRock Inc unit and Grosvenor Capital Management to manage investments in funds of hedge funds in 2016. NPS, which plans to begin investing in h... More »
NEW YORK/BOSTON UK voters’ surprise decision to leave the European Union roiled markets on Friday, but hedge funds appear to have avoided crippling losses, according to market data and people familiar with fund performance. Money managers were positioned relat... More »
LONDON Britain’s 2.2 million financial industry workers face years of uncertainty and the risk of thousands of job cuts after the country voted to quit the European Union, an upheaval that threatens London’s dominance of finance. The ‘Vote Leave’ campaign fron... More »
NEW YORK Jeffrey Gundlach, chief executive of DoubleLine Capital, called the May employment report on Friday a “real body blow” and said it means an interest rate increase later this month is an “impossibility.” In a telephone interview, Gundlach also said the... More »
NEW YORK U.S. prosecutors have agreed to a rare settlement refund of $6 million to hedge fund Diamondback Capital Management LLC after a ruling by a 2014 federal appeals court made pursuing insider trading cases tougher, according to court papers. In documents... More »
NEW YORK Investors pulled approximately $1 billion from the Pimco Total Return Fund, one of the world’s largest bond funds, in May following cash withdrawals of the same amount the previous month, the Newport Beach, California-based firm said on Thursday. Pimc... More »
SHANGHAI Bridgewater Associates, the world’s largest hedge fund with around $150 billion in assets under management, has set up an investment management unit in Shanghai, according to a Chinese government website filing, signaling that the firm is looking to e... More »
NEW YORK Dan Loeb’s hedge fund Third Point LLC bought more than a half a million Class A share position of Google parent Alphabet Inc, according to a Securities and Exchange Commission filing late Friday. Third Point took a new stake of 700,000 Alphabet shares... More »
NEW YORK David Tepper’s hedge-fund firm Appaloosa bought nearly 1 million shares in Valeant Pharmaceuticals International Inc in the first three months of 2016, according to regulatory filings, but sold them during the first quarter. Shares of Valeant jumped 2... More »
New York Ray Dalio’s Bridgewater Associates hedge fund firm sold off its stakes in Amazon.com Inc, Coca-Cola Inc, and Gap Inc during the first quarter and added new stakes in Alphabet Inc and McDonald’s Corp, according to the latest regulatory filings. Bridgew... More »
LAS VEGAS Swaggering hedge fund managers, long known for ignoring client complaints during years of strong performance, are trying something new: listening. The shift was evident at the annual SkyBridge Alternatives Conference in Las Vegas this week, where a g... More »
NEW YORK Hedge fund manager David Einhorn has built a reputation on his ability to crater a company’s stock. His prescient short calls such as Allied Capital and Lehman Brothers had been announced in previous years at the annual Sohn Investment Conference in N... More »
NEW YORK Hedge fund Kerrisdale Capital Management has taken a short position in the stock of direct broadcast service provider DISH Network Co, betting that the stock price will fall because its wireless spectrum is overvalued, a source familiar with the matte... More »
VIENNA Europe and Japan’s central bank policies of negative interest rates are a “horror” and will run counter to the desired effect, Jeffrey Gundlach, the widely followed investor who runs DoubleLine Capital, said in an interview with a Swiss newspaper. Gundl... More »
NEW YORK Jeffrey Gundlach, the widely followed investor who runs DoubleLine Capital, said on a webcast on Tuesday that the Federal Reserve’s rate hike cycle “increasingly likely” looks like a one and done scenario this year. Gundlach, who oversees $95 billion ... More »
SAO PAULO Equity funds in Brazil are expected to post returns below the benchmark Bovespa stock index’s performance in coming months, partly as their preference for maintaining high cash holdings and heightened market volatility made them miss a recent rally. ... More »
BOSTON Billionaire investor William Ackman’s Pershing Square Holdings, Ltd fund lost 7.1 percent last month, hurt largely by Valeant Pharmaceuticals’ (VRX.TO) roughly 60 percent tumble in March. March’s poor performance leaves Ackman’s fund with a 25.6 percent... More »
Time Inc (TIME.N) is considering partnering with a private equity firm on a bid for Yahoo Inc’s (YHOO.O) core Internet assets, according to people familiar with the matter, as the U.S. publishing company seeks to boost its digital presence. The deliberations o... More »
BOSTON Billionaire hedge fund investors Daniel Loeb and Barry Rosenstein made money in March when the stock market came back with stronger gains, but both men’s funds are still in the red for the year, sources familiar with their performance said. Loeb’s Third... More »
TOKYO Activist investor Daniel Loeb urged Japanese retailer Seven & I Holdings Co Ltd to shut more unprofitable department stores, in an interview with the Nikkei newspaper on Monday. Seven & I, which owns Sogo department stores and the 7-Eleven convenience ch... More »
LONDON The campaign for Britain to leave the EU has been backed by 250 business leaders including the former chief executive of HSBC, the Vote Leave group said on Saturday, hoping to counter the view that UK businesses back staying in the bloc. The camps argui... More »
NEW YORK Hedge funds may have taken too big a bite of Apple Inc. Shares of the iPhone maker are one of the biggest bets among hedge funds, with 47 of them listing Apple among their ten largest holdings as of the end of 2015, according to a report from Goldman ... More »
NEW YORK Donald Trump’s presidential campaign is built on his business acumen. But some of the Wall Street funds that he has invested in have proven less successful, underperforming industry benchmarks in the last 15 months, according to a Reuters examination.... More »
BOSTON Billionaire investor William Ackman, whose hedge fund is one of the biggest investors in drug company Valeant, has been asked to supply information to U.S. legislators probing price hikes in the pharmaceutical industry. Ackman told investors in his Pers... More »
Activist hedge fund Starboard Value LP, which is leading an investor revolt against Yahoo Inc’s (YHOO.O) management team, is seeking to remove the entire board of the struggling Internet company, the Wall Street Journal reported. The activist investor, which o... More »
NEW YORK Bridgewater Associates, the largest hedge fund manager in the world, continued its efforts to transition some responsibilities away from founder Ray Dalio. The latest move, announced in a client note seen by Reuters on Thursday, was to hire Jon Rubins... More »
Senior investment bankers Zubaid Ahmad and Brad Coleman will be leading a new group at Citigroup Inc focused on better serving clients that are private equity firms, hedge funds and sovereign wealth funds, according to a memo seen by Reuters on Wednesday. The ... More »
NEW YORK iHeartMedia Inc, the largest owner of U.S. radio stations, on Wednesday secured a temporary restraining order from a state court in Texas rescinding notices of default it received from a small number of its senior creditors. The San Antonio, Texas-bas... More »
LONDON Two of the three types of hedge funds which bet heavily on a sharp devaluation of China’s yuan last year have backed off the trade, leaving only some ultra-bearish “Black Swan” investors holding long-term bets, fund managers and bankers said. Hedge fund... More »
