Investment Management News
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Updated 35 minutes ago
West Texas Intermediate crude advanced to a one-week high on signals that global economic growth will accelerate, bolstering fuel consumption.
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U.K. stocks climbed to a five-year high, extending the benchmark FTSE 100 Index’s fourth straight weekly advance, as banks and mining companies rallied and U.S. consumer confidence topped forecasts.
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Updated 31 minutes ago
Gold bears are dominant again after prices resumed their slump and billionaire George Soros joined investors selling holdings in exchange-traded products that have retreated to a two-year low.
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Sales of high-yield corporate bonds in Europe dropped this week to the lowest in more than a month as the cost of insuring the debt rose and the euro-area recession extended to a record sixth quarter.
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Gold futures fell, capping the longest slump in 16 months, as U.S. filings showed that George Soros and BlackRock Inc. cut stakes in exchange-traded products backed by the metal, signaling waning investment demand.
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Billionaire investor George Soros joined Northern Trust Corp. and BlackRock Inc. in cutting holdings of exchange-traded products backed by gold before a bear market in prices last month, while John Paulson maintained a stake that lost about $165 million in the first quarter.
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Pacific Investment Management Co.’s Bill Gross said the end of the 30-year rally in U.S. bonds is unlikely to be reminiscent of the drop in 1994, when the Federal Reserve raised interest rates more than forecast.
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Perpetual Ltd., which managed A$26 billion ($26 billion) at the end of last year, sued Cameron Harrison Private Pty, accusing it of poaching clients after hiring away two senior managers.
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Most emerging-market stocks rose, led by health-care and consumer shares, as India’s benchmark measure surged to the highest level in more than two years.
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More than 11 percent of investments under U.S. professional management were selected for companies’ financial performance and their social and environmental responsibility in 2012. That’s $3.74 trillion of the $33.3 trillion in investments scanned for environmental, social and governance criteria (known as ESG), according to a November report by the U.S. SIF Foundation.
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