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