Gundlach Dismissal Triggers $25 Billion in Investor Outflows at TCW Group TCW Group Inc. clients pulled about $25 billion after the Dec. 4 firing of Jeffrey Gundlach as investment chief, almost a fourth of its assets and more than double the amount since year-end.
Ping An Vies to Defy `Dead’ Universal Banking Model to Expand Bank, Wealth Ping An Insurance (Group) Co., the world’s second-biggest life insurer, aims to sell banking and investing services to its 50 million customers with a one-stop shopping model being abandoned by U.S. and European companies.
Pimco Buys High-Yield Corporate Bonds in Credit Rating `Barbell’ Strategy Pacific Investment Management Co., manager of the biggest bond fund, is buying debt at opposite ends of the high-yield ratings scale as it seeks investments that can provide returns in a slower-growth environment.
Calpers to Cut Number of Firms Handling Assets From 130 in Bid for Returns The California Public Employees’ Retirement System, the largest U.S. public pension, is seeking to reduce the number of private-equity firms it invests with to lift returns and trim costs, according to a presentation.
Hedge Fund Assets May Rise 14% in 2010 as Proposed Rules Buoy Confidence Hedge fund assets may climb 14 percent this year as proposed regulations ease the concerns of risk-averse investors, according to Eurekahedge Pte.
Blackstone, KKR May Report Profit as Rebound in Markets Boosts Investments Blackstone Group LP and KKR & Co., the largest publicly traded buyout firms, may report a fourth- quarter profit this week after the financial market rebound helped them sell or mark up holdings and refinance deals.
Aberdeen Asset Management Buys Vodafone, SingTel on `Uncertain’ Recovery Aberdeen Asset Management Plc has bought more Vodafone Group Plc and Singapore Telecommunications Ltd. shares because they’re sheltered from possible shocks that may derail a global economic recovery.
Aureos Plans Singapore Move From London as Europe Regulates Private Equity Aureos Capital Ltd., a private- equity firm investing in emerging markets, plans to move senior management to Singapore from London as the European Union moves to regulate the alternative-investment industry.
Lazard’s Griffen Says `Overweight’ Some Japanese Shares, Plans to Buy More Lazard Asset Management LLC, which manages about $117 billion globally, is increasing its exposure to some Japanese shares and planning to buy more, said Timothy Griffen, portfolio manager of the company’s Japanese unit.