World Economy Stabilizes in ‘Great Moderation 2.0’: JPMorgan
Low market volatility and minimal employment variability means good news for equities, a JPMorgan analyst says.
Emerging Market Shakeout Putting Forex Reserves Into Focus
Foreign-exchange reserves are emerging as the latest battleground between traders and developing nations trying to stem the worst rout in their currencies since 2008.
China Seen Driving Oil to 3-Day High
An expectation that China will increase financial stimulus led to a rise in the price of oil to a three-day high, as France advanced arguments for an embargo on Iranian oil. Meanwhile, Saudi Arabia said it would try to stabilize the price of oil at around $100.
Greece’s Creditors Resist IMF Push for Bigger Losses
Greece’s creditors are pushing back against an IMF drive to get them to accept larger losses on the country’s sovereign debt, with one Madrid-based hedge fund pulling out of the debt swap talks over the matter.
ECB Eases Rates and Rules to Bolster Banks
The European Central Bank will lend banks as much money as they need for three years, in addition to dropping its key interest rate to zero and loosening collateral rules andreserve ratio requirements.
Commerzbank Profits Fall 93% on Greece Woes
An indication of how much the debt woes of other countries may affect banks came on Wednesday as Commerzbank AG of Germany said its quarterly profit fell 93% once it had written down the value of its Greek holdings.
Madison Capital Names Portfolio Director
NEW YORK--(HedgeWorld.com) Madison Capital Management LLC, has appointed Kristina Smorol as a portfolio director. Ms. Smorol will work primarily on investments in real estate securities for Madison's joint venture with Pramerica's real estate investment management arm and other funds managed by Madison. The joint venture concentrates on nontraditional real estate...
COMINVEST Plans Fund of Funds with PlusFunds, Harcourt
FRANKFURT, Germany (HedgeWorld.com)--Three companies--COMINVEST Asset Management gmbh, a unit of Commerzbank AG, PlusFunds Inc., New York, and Harcourt AG, Zurich, Switzerland--are planning to launch a new fund of funds program before the end of the year. The fund, aimed at German investors, will use an active management approach drawing from...
Montgomery Hedge Fund Will Shut Down; Santos Joins
SAN FRANCISCO (HedgeWorld.com)--The Montgomery Partners Absolute Return Fund LLC is being liquidated after atttempts to sell the fund failed. Separately, Wilson "Bill" Santos, who had run...
Hedge Fund Unit Not Part of Montgomery Sale
SAN FRANCISCO (HedgeWorld.com)--The hedge fund division of Montgomery Asset Management LLC will not be included in the planned divestment of Montgomery by Commerzbank AG to...