Hedge Funds May Get $222 Billion Inflow in 2010, Deutsche Bank Survey Says Hedge funds globally may attract $222 billion of fresh capital this year, according to a survey by Deutsche Bank AG, marking the first annual net inflow since the global financial crisis hit in 2007.
Berkowitz Invests in AIG, Says Bailed-Out Insurer `Still a Good Company’ Bruce Berkowitz, the head of Fairholme Capital Management who was named Morningstar Inc.’s domestic stock mutual fund manager of the decade, said today that he bought “significant” stakes in American International Group Inc. shares, convertible debt and bonds.
Pound Bears Bet More Than When Soros Beat BOE on Greece-Like U.K. Deficit Futures traders are more bearish than ever on sterling amid concern that the currency’s worst annual start in 13 years will continue as the U.K.’s budget deficit approaches the Greek shortfall that roiled the euro.
Nobel Winner Williams Sharpe’s Firm Prices IPO Cheaper Than Morningstar Financial Engines Inc., the investment adviser co-founded by Nobel laureate William Sharpe, plans to raise $117 million in an initial public offering that values his company at a discount to its biggest competitors.
Bank of China, Temasek Said to Discuss $2.9 Billion Rural Banking Venture Bank of China Ltd. and Temasek Holdings Pte may invest as much as 20 billion yuan ($2.9 billion) to build a rural-banking business in China, said two people with knowledge of the matter.
Money Rates Rising Foreshadows Treasury Losses as Bernanke Prepares Exit Money market interest rates at five-month highs show the Federal Reserve is laying the groundwork to siphon a record $1 trillion in excess cash from the banking system and sending a bearish signal on Treasuries.
U.S. Housing Market Can Withstand Stimulus Withdraw, Barclays Capital Says The U.S. housing market is poised to withstand the removal of government and Federal Reserve stimulus programs and rebound later in the year, contributing to annual economic growth for the first time since 2006.
Al-Suwaidi Says Dubai Isn’t Likely to Need Additional Central Bank Support United Arab Emirates Central Bank Governor Sultan bin Nasser al-Suwaidi said Dubai isn’t likely to need more central bank aid and the federal government is strong enough to deal with future crises.
Sony Financial Heads for Record Gain on Bond-Focused Allocation Changes Sony Financial Holdings Inc., the insurance and banking unit of Sony Corp., headed for its biggest gain ever in Tokyo after saying it will boost its bond holdings to reduce risk and stabilize its investment strategy.
Goldman Sachs Squeezes Hedge Funds in $110 Billion `Collateral Arbitrage’ Goldman Sachs Group Inc. and JPMorgan Chase & Co., two of the biggest traders of over-the- counter derivatives, are exploiting their growing clout in that market to secure cheap funding in addition to billions in revenue from the business.
Silver `Struggles’ at $17.63 an Ounce, Barclays Says: Technical Analysis Silver is struggling to exceed a trading band of $17.48 to $17.63 an ounce, according to technical analysis by Barclays Capital.