Shares in Man plunge after losses at AHL October 12, 2011 THE STRUGGLING hedge fund industry suffered another blow yesterday as Man Group revealed its flagship vehicle had been caught out by the recent rally in equities. Shares in Man, the world’s largest listed hedge fund, plunged six per cent after it said AHL, its computer-driven vehicle, lost 5.5 per cent last week as hopes of [...]
Integration of GLG is still main issue October 12, 2011 THERE was, until yesterday, a solitary bright spot for Man Group, the beleaguered hedge fund giant. AHL, its flagship vehicle and main profit driver, was still performing well despite a torrid time for the rest of the business, adding $1.5bn in the second quarter while almost every other fund lost money. That’s no longer the case. AHL, [...]
Turbulence prompts mass exodus from hedge funds October 12, 2011 INVESTORS pulled out around five times more cash from hedge funds in the month to 1 October than in the prior period, during one of the most turbulent few weeks for stock and bond prices since the 2008 financial crisis dampened appetite for risk. Gross outflows, as measured by the GlobeOp Capital Movement Index, which [...]
Unemployment soars as economy weakens October 12, 2011 UNEMPLOYMENT hit a 17-year high in August as new private sector jobs failed to offset public sector lay-offs, according to the Office for National Statistics’ figures, out yesterday. According to the latest statistics from the Labour Force Survey, 8.1 per cent of the workforce was unemployed from June to August . That represents an increase [...]
Public sector pay freeze ignored as inflation bites October 12, 2011 PUBLIC sector workers have seen pay increases outstripping those in the private sector, despite George Osborne’s promise of a pay freeze. Average regular pay (excluding bonuses) for state workers in the three months to August increased by 2.2 per cent on the same period last year, taking weekly pay to £470 per week. Private sector [...]
Pepsi posts better profit October 12, 2011 PEPSICO is planning to raise prices on some drinks and snacks in the coming weeks to help offset higher commodity costs. The maker of Pepsi-Cola reported slightly better than expected third-quarter earnings last night, sending shares up four per cent. The US firm reported net income of $2bn (£1.27bn) compared with $1.92bn a year earlier. [...]
UK groups buy abroad amid slump October 12, 2011 HOPES of a long-term recovery in Britain’s global buying power are boosted today with the publication of figures showing it has held on to its position as the second-most active nation in mergers and acquisitions. British companies made $83.26bn (£52.82bn) of acquisitions overseas so far this year while foreign firms spent $64.35bn on buying British [...]
Pension plans shift strategies October 12, 2011 PENSION funds are shifting away from gold and private equity as they look for alternative investment strategies, according to a new report from UBS. Trustees have also cooled on investments in hedge funds and exchange traded funds, according to the European Equity Strategy research. The switch has been driven by the need to find alternatives [...]
Standard Life eyes 400,000 new clients October 12, 2011 STANDARD Life yesterday said it was preparing for an “explosion” in its UK business as 400,000 new customers could start saving into its pension schemes for the first time next year. The life and pensions group said it had ramped up investment in pension management software as it prepares for an expected £150bn of pension [...]
Moulton set to raise funds October 12, 2011 VENTURE capitalist Jon Moulton will raise new funds for his Better Capital vehicle, with analysts speculating it could be as much as £100m. Better Capital has already bought a string of companies, including the Reader’s Digest and engineer Gardner, since floating two years ago. The company, through its Enigmatic Investments business, recently had a £9.7m bid [...]
