Nov 21 (Reuters) – Hedge fund manager Daniel Loeb on
Thursday disclosed a $1 billion-plus stake in Japan’s SoftBank
Corp at an investment conference, while another top
money manager warned in an interview of the “bubble-like”
conditions of some stocks.
Loeb was a speaker at the Robin Hood Investors Conference
along with hedge fund manager David Einhorn of Greenlight
Capital, who disclosed a stake in chipmaker Micron Technology
, lifting its shares 6.3 percent. Einhorn also defended
his stake in Apple Inc.
BOSTON (Reuters) – A group of U.S. mutual funds led by Fidelity Investments holds a combined stake of nearly $250 million in Dropbox Inc, positioning them for a big payoff if the fast-growing cloud storage company can pull off a stock market debut like that of Twitter Inc.
Two funds run by Fidelity portfolio manager Will Danoff – Contrafund and Fidelity Advisor New Insights – own stakes in Dropbox valued at $83.1 million, according to Morningstar Inc data.
BOSTON (Reuters) – Debt issued on behalf of a bankrupt airline has turned into one of the unlikeliest winners on the U.S. municipal bond market.
Municipal bonds issued for bankrupt American Airlines that once traded for less than 20 cents on the dollar have taken flight over the past year, scoring big-ticket gains for a handful of U.S. municipal bond fund managers.
BOSTON (Reuters) – Fidelity Investments, the second-largest U.S. mutual fund company, on Tuesday rolled out three new funds to help investors sidestep the interest-rate shock that is expected when the Federal Reserve unwinds its easy money policy.
Boston-based Fidelity launched three so-called short duration bond funds, which are designed to lower the risk from rising interest rates. The new funds are the Limited Term Bond Fund, Conservative Income Municipal Bond Fund and Short Duration High Income Fund. Fidelity said it now has 13 short duration funds with more than $34 billion in assets under management.
BOSTON (Reuters) – Mutual funds run by T. Rowe Price Group Inc and Morgan Stanley are poised to send one sweet tweet.
These early investors in Twitter Inc will reap exponential gains as the microblogging site goes public, while latecomers struggle for share allocations.
SAN FRANCISCO/BOSTON (Reuters) – The Federal Reserve should scale back its asset purchases only when the U.S. economy shows clearer signs of improvement and even then it should act slowly, one senior central banker said on Monday, while two others stressed there is no need to rush.
The comments suggest the U.S. central bank will be propping up the economy and financial markets for some time to come, and they underscore Fed Chairman Ben Bernanke’s repeated promise that stimulus will not be reduced according to a set timeline but rather in response to economic developments.
(Reuters) – Vanguard Group, the No. 1 U.S. mutual fund company, said on Monday that Gregory Davis, a major force behind the launch of bond exchange-traded funds, will become the chief of its fixed-income group, which has $750 billion in assets.
Davis, 43, will replace Robert Auwaerter, who is retiring in March after more than 30 years with Vanguard, where he oversaw exponential growth in bond assets.
BOSTON (Reuters) – U.S. municipal bond funds with at least 5 percent exposure to Puerto Rico debt have experienced an $8.3 billion decline in their net assets in 2013, according to Lipper Inc data.
The 16.3 percent decline from $50.6 billion at the end of 2012 comes as U.S. and state regulators investigate whether the funds adequately disclosed their exposure to Puerto Rico.
BOSTON, Oct 30 (Reuters) – U.S. municipal bond funds with at
least 5 percent exposure to Puerto Rico debt have experienced an
$8.3 billion decline in their net assets in 2013, according to
Lipper Inc data.
The 16.3 percent decline from $50.6 billion at the end of
2012 comes as U.S. and state regulators investigate whether the
funds adequately disclosed their exposure to Puerto Rico.
(Reuters) – Investors in the Franklin Double-Tax Free Income Fund FPRTX.O rejected the most lopsided bet on Puerto Rico debt in the U.S. mutual fund industry.
Since the end of July 2012, the municipal bond fund run by Franklin Resources Inc (BEN.N: Quote, Profile, Research, Stock Buzz) has shrunk to $461.2 million from nearly $900 million, according to Lipper Inc data. Net outflows from the fund during that time have totaled $308.3 million, escalating in recent months amid a sharp decline in Puerto Rico bond prices.