BlackRock’s Lyttleton Bets on Hansteen 30 Years After Picking First Winner Mark Lyttleton won first prize in a newspaper stock-picking contest when he was 8. Thirty years later, the manager of Britain’s largest absolute return fund is betting property and food retailers will put him back on top.
Norway’s Wealth Fund Replaces Managers After Loss Erases 12 Years of Gains Norges Bank Investment Management, which oversees Europe’s largest sovereign wealth fund, named a new team of executives after record losses last year wiped out gains from 12 years of investing Norway’s oil and gas revenue.
Leverage Rising on Wall Street at Fastest Pace Since Credit Froze in 2007 Banks are increasing lending to buyers of high-yield company loans and mortgage bonds at what may be the fastest pace since the credit-market debacle began in 2007.
Nikkei Gaining on DPJ Victory Means Japan’s Bond Yields Poised to Increase Japanese stocks may rise and bonds fall with a victory in this weekend’s election by the opposition party, if returns after the previous vote are any guide.
Lloyds May Sell Part of Fund Management Unit, Weighs Scottish Widows IPO Lloyds Banking Group Plc may sell part of its fund management business, including a possible initial public offering of Scottish Widows, to raise cash after its bailout, two people familiar with the talks said.
Billionaire Paulson Says He Supports AngloGold Managers as Top Shareholder John Paulson, the hedge fund billionaire who earned an estimated $2.5 billion last year betting against a recovery in the U.S. housing market, said he supports managers of AngloGold Ashanti Ltd. after becoming the South African mining company’s biggest investor.
Pimco Says Financial Company Bonds in Asia `Look Attractive’ Amid Recovery Asian bank bonds “look attractive” as markets recover from the financial crisis, said Koyo Ozeki, head of credit research for the region at Pacific Investment Management Co., which runs the world’s biggest bond fund.
Emerging-Market Funds Inflows on Prospects for Growth, Exports, EPFR Says Emerging-market equity funds received net inflows in the week to Aug. 26, rebounding from the biggest outflows in 2009, on optimism improving economic conditions in France, Germany and the U.S. will bolster exports.
Dump Outperforming Rio Tinto Bonds, Buy Noble, Dah Sing Debt, BNP Says Investors should buy Dah Sing Bank and commodity supplier Noble Group Ltd.’s bonds and sell holdings in Rio Tinto Plc, Industrial Bank of Korea and Kookmin Bank, according to BNP Paribas SA’s Top Picks list.
China Stocks Cheapest to Analyst Targets After Shanghai Index Slumps 16% Chinese stocks are trading at the steepest discount in the world compared with analysts’ price targets after this month’s 16 percent slump in the nation’s benchmark stock index.
FourWinds Starts $40 Million Fund Investing in Waste-Management Companies FourWinds Capital Management, which manages about $1.4 billion in natural-resource funds, started a private-equity fund investing in waste-management companies.