Pictet’s de Saussure Sees More IRS Attacks on Swiss After UBS Settlement Jacques de Saussure, managing partner at Pictet & Cie., Switzerland’s biggest closely held private bank, expects the U.S. to make fresh attacks on the country’s money managers in the search for tax dodgers.
PAI Partners Names Lionel Zinsou CEO as Megret, Meunier Prepare to Leave PAI Partners, the Paris-based manager of a 5.4 billion-euro ($7.7 billion) private equity fund, named Lionel Zinsou Chief Executive Officer to replace Dominique Megret.
Emerging Market Equity Fund Outflows Surge, Led by China, on Loan Concern Global emerging-market equity funds posted their biggest weekly outflows of 2009 as investors pulled money out of China on concern banks expanded credit too rapidly, EPFR Global said.
Charts Replace Ben Graham in John Hancock’s Technical Analysis Mutual Fund John Hancock Funds is betting its money-management clients are ready for Bollinger bands, Moving Average Convergence/Divergence and the Relative Strength Index.
CFTC’s Rules Lead Barclays to Stop Sales of $10 Billion in ETFs and ETNs Barclays Bank PLC today stopped selling new shares of its iPath natural gas exchange-traded notes, the latest of $10 billion worth of exchange-traded products squeezed by potential limits on commodity speculation.
Axis Asset Management Aims to Be Among India’s 10 Biggest Money Managers Axis Asset Management Co., backed by India’s fourth-largest bank, aims to be one of the nation’s top 10 money managers in the next five years, said Chief Executive Officer Rajiv Anand.
Bonds Sold to Widows From CIT to GMAC Have Fine Print That Pimco Resists As the world’s biggest bond investors cut off funding to CIT Group Inc., the commercial lender turned to retirees for debt financing.
KKR’s Dollar General Files to Raise Up to $750 Million in IPO of Retailer Dollar General Corp. filed to raise as much as $750 million in an initial public offering as KKR & Co. LP, owner of the discount retailer, took advantage of a rebound in equity markets.
GMO’s Debt Fund Gains 30% as Cooper’s Argentina, Venezuelan Bets Rebound Thomas Cooper’s emerging-market bond fund fell 33 percent last year when bonds from Argentina, Venezuela and Ukraine plunged during the financial crisis. The fund gained 30 percent this year as investors regained an appetite for risk, bidding up those same bonds.
UBS Settlement With IRS Spurs Tax Disclosure by Americans in Switzerland Americans in Switzerland are rushing to disclose their holdings to U.S. tax authorities after the Swiss government agreed to hand over details on 4,450 UBS AG accounts to the Internal Revenue Service.
China Stock Index May Pass 4,000 as Economy Revives, Morgan Stanley Says China stocks may rise, driving the Shanghai Composite Index past 4,000 over the next 12 months, as the world’s third-largest economy revives, Morgan Stanley said.