Sinead's Feed
Nov 30, 2012

Banking union critical to European recovery, investors say

LONDON (Reuters) – Investors burned by tumbling share prices and emergency cash calls say they could be forced to quit European banks for good unless policymakers forge ahead with a banking union in 2013.

Lamenting piecemeal progress to make euro zone members jointly responsible for all lenders, speakers at the Reuters Global Investment Outlook 2013 Summit in London this week said governments had to work faster to restore investor faith in banks or face years of anemic economic growth.

Nov 29, 2012

BlackRock sees “slow turn” in global economy in 2013

LONDON (Reuters) – The global economy is positioned for “a slow turn” in 2013, with tentative fiscal relaxation in Europe, a sustained U.S. housing recovery and signs of renewed confidence in financial markets, says BlackRock.

Ewen Cameron Watt, chief strategist at the BlackRock Investment Institute, said aggressive monetary and policy action had effectively insured the liabilities of several key financial systems, raising prospects for markets to surprise on the upside next year.

Nov 29, 2012

It’s time to buy peripheral euro zone bonds – AXA IM

LONDON (Reuters) – After years in the investment wilderness, peripheral euro zone bonds are shaping up to be one of 2013′s most promising bets, AXA Investment Managers said on Wednesday.

With the European Central Bank committed to supporting struggling euro zone members, Franz Wenzel, head of strategy at AXA Investment Management, said peripheral sovereign bonds, particularly Italy and Spain, should no longer be overlooked.

Nov 28, 2012

It’s time to buy peripheral euro zone bonds: AXA Investment Managers

LONDON (Reuters) – After years in the investment wilderness, peripheral euro zone bonds are shaping up to be one of 2013′s most promising bets, AXA Investment Managers said on Wednesday.

With the European Central Bank committed to supporting struggling euro zone members, Franz Wenzel, head of strategy at AXA Investment Management, said peripheral sovereign bonds, particularly Italy and Spain, should no longer be overlooked.

Nov 28, 2012

QE is working, says Standard Life Investments

LONDON (Reuters) – Multi-billion dollar money printing programs are finally starting to prove their worth as agents of growth by stoking risk appetite and pushing investors higher up the yield curve.

The economic crutch deployed by the Bank of England and the Federal Reserve has been broadly rejected as a tool to kickstart recovery by European policymakers desperate to avoid a bout of hyper-inflation that crippled 1920s Germany.

Nov 21, 2012

U.S. investor’s Irish punt casts large shadow

DUBLIN/LONDON, Nov 21 (Reuters) – U.S. asset manager
Franklin Templeton’s lucrative bet on Ireland could turn into a
nasty losing streak if Europe’s favourite recovery story falters
or its own customers lose faith.

The San Francisco-based investor’s aggressive purchase of
Irish government debt has helped crown Ireland the best
performing bond market in Europe this year. But its holding of
nearly one tenth of a highly illiquid market leaves it – and
other investors, including the European Central Bank – exposed.

Nov 20, 2012

Concealed votes knock ‘shareholder spring’ off course

LONDON, Nov 21 (Reuters) – Asset managers running trillions
of pounds of pension fund cash are falling short with efforts to
stamp out excessive boardroom pay.

Only months after the so-called shareholder spring promised
a revolution in the way executives are paid, research by
industry group FairPensions suggests many of Britain’s largest
investment houses are still sidestepping client requests to
disclose and explain votes on controversial pay plans.

Nov 16, 2012

Man Group sells Lehman exposure for $456 million

LONDON (Reuters) – Hedge fund manager Man Group has sold claims to the estate of defunct U.S. investment bank Lehman Brothers in a $456 million deal that will boost its cash position and see it book a tidy gain.

Hutchinson Investors, managed by hedge fund firm Baupost Group, is buying the portfolio at a 32 percent premium to its June 30 valuation, Man said on Friday.

Nov 16, 2012

Man Group sells Lehman estates exposure for $456 million

LONDON (Reuters) – Hedge fund manager Man Group (EMG.L: Quote, Profile, Research, Stock Buzz) is selling off its legal claims to the estates of defunct U.S. investment bank Lehman Brothers in a $456 million deal that will boost its net cash position and capture attractive gains for investors.

Hutchinson Investors, managed by the Baupost Group, has agreed to buy the portfolio at a 32 percent premium to the June 30 valuation and Man may receive a further $5 million if future recoveries from the claims exceed certain thresholds.

Nov 12, 2012

EU risks regulatory own goal with hedge fund rules

LONDON, Nov 12 (Reuters) – European Union regulation
intended to ensure hedge funds and private equity groups cannot
threaten the global financial system by being “too big to fail”
could end up having the opposite effect.

Critics of the EU’s Alternative Investment Fund Managers
Directive (AIFMD), which is expected to be finalised within
weeks, say that rather than drawing secretive asset managers
into the regulatory net as its architects intended, it will
actually concentrate risk in fewer hands.