Fund investors retreat from U.S. stocks as S&P 500 hits records

FILE PHOTO: Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., June 19, 2019. REUTERS/Brendan McDermid/File Photo NEW YORK (Reuters) – Investors pulled slightly more than $5 billion out of mutual funds and exchange-traded funds that hold U.S. stocks last week, ending what Continue Reading

Reinsurance hedge fund Tangency Capital raises further $165 million

LONDON (Reuters) – Hedge fund Tangency Capital has raised a further $165 million to invest in the property reinsurance market, bringing its size to $265 million as the hurricane season gets under way, one of its co-founders told Reuters on Wednesday. Insured losses from natural catastrophes totaled more than $200 Continue Reading

Hedge fund chief Daniel Loeb opposes United Technologies, Raytheon merger

BOSTON (Reuters) – Billionaire investor Daniel Loeb said on Friday that his hedge fund Third Point LLC will vote against the planned merger of United Technologies Corp (UTX.N) and Raytheon Co (RTN.N), saying there is no “strategic rationale for this transaction.” FILE PHOTO: Daniel S. Loeb, founder of Third Point Continue Reading

Lords of the Ring: Can ‘smart’ ring give BlackRock fund managers the edge?

LONDON (Reuters) – After years of using the internet, satellites, algos and other innovations to mine ‘Big Data’ for that edge over rivals, the world’s biggest investment firm is trialing a gizmo that puts the focus back on humans — its own portfolio managers. FILE PHOTO: A sign for BlackRock Continue Reading

After Woodford fund suspension, focus turns to its stewards

LONDON (Reuters) – The suspension of Neil Woodford’s flagship fund has put the focus on a little known firm tasked with ensuring his investors were being looked after properly. FILE PHOTO: Neil Woodford, founder and fund manager at Woodford Investment Management, is seen in this undated handout picture released on Continue Reading

Philly refiner defers retirement fund payments to employees – letter

NEW YORK (Reuters) – Philadelphia Energy Solutions will defer retirement payments to union members until next year, the company said in a letter to the union last week, the latest sign the refiner is struggling to find its financial footing after emerging from bankruptcy less than a year ago. The Continue Reading

Human hedge fund managers embrace robot-rival tools to amp returns

BEVERLY HILLS, Calif. (Reuters) – Traditional stock-pickers in the hedge fund world have been struggling to justify their expenses and weak returns in recent years, as low-cost algorithmic funds have done better. Now, human managers are starting to embrace the technologies employed by their robot rivals to improve results. FILE Continue Reading

Hedge fund Vor Capital secures investment from Borealis Strategic: sources

BOSTON (Reuters) – Borealis Strategic Capital Partners, which invests in new hedge funds, has written its first check to commit capital to Europe-oriented stock fund Vor Capital, two people familiar with the matter said on Friday. Vor Capital launched a year ago with a plan to invest in mid-sized European Continue Reading

Exclusive: Advent readies new $2.2 billion Latam private equity fund – sources

SAO PAULO (Reuters) – U.S. private equity firm Advent International Corp is preparing to launch a $2.2 billion fund to invest in Latin American companies, two people with knowledge of the matter told Reuters. The fund launched in coming days will be Advent’s seventh for Latin America and its largest Continue Reading

Collapsed hedge fund Columna sues Permira-backed former managers

LONDON (Reuters) – The new managers of Columna Commodities Fund, a Luxembourg hedge fund which went into liquidation in early 2017, have said they are suing its former managers Alter Domus for $56 million in lost assets and fees. Columna, launched in 2013, was a top-performing fund in a stable Continue Reading