Activist investor Nelson Peltz, who took a stake in State Street Corp. more than two years ago to push for changes to boost the share price, exited his holding in the custody bank in the third quarter.
Jana Partners LLC, the $7 billion hedge-fund firm run by Barry Rosenstein, took stakes in Rupert Murdoch’s News Corp., chemical maker Huntsman Corp., and struggling retailer J.C. Penney Co. last quarter.
Bill Miller, the stock picker who rose to fame after beating the Standard & Poor’s 500 Index for a record 15 years, bought J.C. Penney Co. debt for a new Legg Mason Inc. fund that can invest in a mix of equities and bonds.
Capital Group Cos., the investment firm that created the forerunner to MSCI indexes used as a benchmark for $7.5 trillion in assets, said the regional indexes should be revised to reflect the growing globalization of companies.
The $30 trillion global pension fund industry is starting to muscle in on traditional reinsurers, financing protection against earthquakes and tornadoes as interest rates near record lows spur the search for yield.