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Business

“World’s largest sovereign wealth fund posts record $213 billion profit, boosted by tech stocks”

“Norway’s giant sovereign wealth fund on Tuesday reported record profit of 2.22 trillion kroner ($213 billion) in 2023, supported by robust returns on its investments in technology stocks. The so-called Government Pension Fund Global, one of the world’s largest investors, said the… Continue Reading…

Business, Stocks

“Cathie Wood’s Fund Suffers $473 Million Hit From 2 Ugly Stocks”

“…The result? Pain. ARK Innovation posted a negative 11.6% total return this year so far, says Morningstar Direct. That makes it the fourth worst-performing actively traded U.S. diversified ETF this year. Even behind rival funds from T. Rowe Price (TROW) and Fidelity.… Continue Reading…

Business, Stocks

“Tesla Poised for 550% [Long Term] Gain, Says Fund Manager Unfazed by Wipeout”

“It’s a tough wager to make right now, after the electric-vehicle maker warned on Wednesday that it will expand at a “notably lower” pace this year, prompting a 12% plunge in the stock. It has now lost some $209 billion… Continue Reading…

Business

“Blackstone to close multi-strategy fund after assets drop nearly 90%”

“Blackstone plans to close a fund that exposes investors to a variety of hedge funds and trading strategies after assets fell almost 90% in four years, the company told Reuters on Tuesday… Assets under management in the fund peaked at… Continue Reading…

Banking

“IMF says central bank digital currencies can replace cash: ‘This is not the time to turn back’”

” Central bank digital currencies have the potential to replace cash, but adoption could take time, said Kristalina Georgieva, managing director of the International Monetary Fund on Wednesday… The IMF has said that more than 100 countries are exploring CBDCs – or approximately 60% of… Continue Reading…

Economy

“Dutch Pension Funds Send Shockwaves Through Euro Swap Market”

“Dutch pension funds are plowing cash into long-dated swap contracts, according to strategists, upending one of this year’s most popular trades. The funds, by far the region’s largest with more than €1.5 trillion in assets, are likely bidding up the… Continue Reading…

Banking, Business

“SoftBank Plunges After Vision Fund Loss and WeWork Collapse”

” SoftBank Group Corp.’s shares tumbled after its flagship Vision Fund reported another loss with the drop in valuations at WeWork Inc. and other portfolio companies on top of foreign exchange losses. Shares fell as much as 9.3% on Friday, the… Continue Reading…

Business

“BlackRock Clients Pull $13 Billion From Long-Term Funds”

“BlackRock Inc. clients pulled a net $13 billion from long-term investment funds, the first outflows since the onset of the pandemic in 2020… The outflows from the firm’s long-term investment funds, including mutual funds and exchange-traded funds, missed by a… Continue Reading…

Stocks

“Hedge funds using computers to sell up to $30 billion of stocks soon – UBS”

“LONDON (Reuters) – Hedge funds using computers to trade equities are expecting to start selling to the tune of $20 billion to $30 billion in the next two weeks given retreating stock markets, a UBS note seen by Reuters shows…… Continue Reading…

Business, Stocks

“China Hedge Funds in Crisis After Losses, US Investor Retreat”

“…The number of active China-focused hedge funds has slipped for the first time since at least 2012, with only five new funds launched this year as of June, according to data from Preqin Ltd. Another 18 funds were liquidated, the… Continue Reading…