Peter's Feed
May 14, 2010

Skagen buys more Parmalat, MTN shares

COPENHAGEN, May 14 (Reuters) – Fund manager Skagen raised
its Parmalat SpA <PLT.MI> stake in April, attracted by the
Italian dairy group’s cash pile and a shareholder structure
change expected to make it a takeover target next year.

In its latest monthly report, the Norwegian asset manager
said Parmalat is Skagen’s only major stock listed in one of the
so-called PIGS countries (Portugal, Italy, Greece, Spain), which
are burdened by sovereign debt problems.

Mar 17, 2010

Alm Brand buys Headwaters for greentech fund

COPENHAGEN (Reuters) – Environment and renewable energy are themes in vogue among institutional investors, said Danish fund managers Alm Brand, who recently bought shares in the energy-efficient solutions company Headwaters Inc.

Alm Brand Invest’s Environment Technology fund has about $33 million in assets under management (AUM).

Mar 4, 2010

DSV sees double-digit 2010 profit growth

COPENHAGEN, March 4 (Reuters) – Transport group DSV <DSV.CO>
expects to return to growth in a difficult 2010, after a drop in
world trade and weakness in freight volumes and rates pulled its
2009 figures down.

The company said it expected double-digit percentage growth
in 2010, though Chief Executive Jens Bjorn Andersen said it
would still be a challenging year.

Feb 15, 2010

Sydinvest calm on UAE, awaits Dubai World plan

COPENHAGEN (Reuters) – Dubai’s debt problems need to worsen before Sydinvest fund manager Anders Ronnebaek would consider shifting to “underweight” on the United Arab Emirates in his Africa & Middle East equities mutual fund.

Ronnebaek cut his UAE exposure to “neutral” in November by reducing financial sector holdings after Dubai shocked investors by requesting a standstill on $26 billion of debts linked to state-owned holding company Dubai World <DBWLD.UL> and two of its property units.

May 20, 2009
via MacroScope

Gold to go

Photo

Automatic teller machines (ATMs) — 500 of them — dispensing pieces of gold will be available around Germany, Switzerland and Austria by the end of this year.

That at least is the plan of German precious metals online trading company TG-Gold-Super-Markt.de. The ATMs, to be located at airports, railway stations and shopping malls, are intended to accustom ordinary people to the idea of investing in a physical asset such as gold, the thinking goes.
 
Thomas Geissler, the company’s chief executive, said the gold ATMs might even improve relations between the sexes.
 
“I have yet to meet a woman who does not like a gift of gold. It’s better than flowers. Flowers are more expensive. They wilt and you (as a man) don’t get as many points at home as if you bring gold,” he said.
 
A prototype ATM on display for a one-day marketing test at the main railway station in Frankfurt, Germany’s financial capital, did indeed reward your correspondent with a 1-gramme (0.0353 ounce) piece of gold.
 
It cost the equivalent of $42.25 — a 30 percent premium over the spot market price.

May 7, 2009
via MacroScope

Has Bernanke got it right?

Photo

“Don’t fight the Fed” is an ingrained financial markets axiom and hence, when Federal Reserve Chairman Ben Bernanke speaks, investors, traders, analysts, economists and fund managers pay attention.

Bernanke testified in Congress on Tuesday and one key message was that the recession should end this year.