Negative interest rates are coming to the US, Guggenheim CIO Scott Minerd said in a note published on Sunday. Minerd sees the 10-year US Treasury rate tumbling to 25 basis points, before hitting his target of negative 50 basis points in the coming years. Minerd warned that it’s not sustainable […]
Pershing Square Capital Management founder Bill Ackman was known for colourful statements well before his notorious March 18 CNBC interview. The billionaire investor is among the few to win out through the tumultuous first quarter, turning a $US27 million bet on credit protection into $US2.6 billion when coronavirus risks caught […]
Franklin Templeton fund manager Michael Hasenstab has been betting on rising Treasury yields since 2017. In that same time period, Treasury yields have fallen to their lowest levels ever. After being on the wrong side of the trade for years, Hasenstab has finally thrown in the towel and exited the […]
Nearly 60% of all large-cap stock pickers bested their Russell 1000 benchmarks in the first quarter, Bank of America analysts said Friday, the best outperformance rate since the financial crisis. The managers’ wins came amid the worst first quarter for equities in history. Managers focusing on large-cap growth stocks had […]
The threat coronavirus poses to global markets “certainly ruined the environment” for long-term investors, Appaloosa Management founder David Tepper told TheStreet on Saturday. The billionaire told CNBC just two weeks ago that he and his hedge fund “have been long and continue that way.” Tepper also warned against taking additional […]
Neil Woodford, among the UK’s best-known fund managers, suspended withdrawals from his flagship fund. He halted dealings in his £3.7 billion ($US4.7 billion) Woodford Equity Income fund after 23 months of net withdrawals and a 45% drop in its value over the past year. Shares in key investor Hargreaves Lansdown […]
Around one quarter (24%) of global fund managers expect corporate bonds to be the worst performing asset class in 2019. The latest survey by Bank of America Merril Lynch shows more fund managers want to see companies use capital to strengthen their balance sheet. While global growth expectations have fallen […]
Shares in Blue Sky Alternative Investments will remain in voluntary suspension while the ASX reviews its response to a research note from short-sellers Glaucus Research that triggered a sell-off in the stock last week. The Australian market is eagerly awaiting Blue Sky’s response to the note, which argued the company […]
Blue Sky says the Glaucus Research note, that argues the fund manager’s fee earning assets are significantly overstated, has inaccuracies. The company went into a trading halt yesterday after its shares fell 13.4% to $10.40 on news of the research. Blue Sky says it’s done an initial review of the […]
Australian asset manager Altair Asset Management has made the extraordinary decision to liquidate its Australian shares funds and return “hundreds of millions” of dollars back to its clients, citing an impending property market “calamity” and the “overvalued and dangerous time in this cycle”. “Giving up management and performance fees and […]
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