BlackRock Inc.’s Mark Lyttleton, who was picking winning stocks as an 8-year-old, became a U.K. poster boy for retail clients seeking hedge-fund style investments after posting positive returns in 2008 when markets crashed. Money poured in.
BlueMountain Capital Management LLC, the $13.6 billion hedge-fund firm led by Andrew Feldstein, is targeting Lexmark International Inc. for its biggest equity wager as the printer maker bolsters its creditworthiness.
Jupiter Fund Management Plc, the U.K. money manager run by Edward Bonham Carter that specializes in selling U.K. equity funds to individual investors, said it hired James Clunie from Scottish Widows Investment Partnership to manage absolute return funds for its clients.
Vanguard Wellesley Income Fund has used a mix of high-quality bonds and dividend-paying stocks to outperform all peers in the past five years, when record low interest rates put a premium on the assets it favors.
Vale SA is replacing trucks with 23 miles of conveyor belts and building a second railway through the Amazon to cut costs and retake the title of world’s second- largest mining company by value from Rio Tinto Group.