Aviva takes GBP132m hit after 'improper' bond trades... [more]From Fundweb.co.uk: Aviva has said that the “improper” allocation of fixed income trades by two former employees has cost it more than £130m. In its full year results for 2013, the group outlined the full impact of the trades, which were discovered in 2013 and took place between 2006 and 2012.
Legg Mason to acquire QS Investors... [more]From Nasdaq.com: Baltimore-based Legg Mason Inc. inked a deal to acquire New York based private asset manager QS Investors in order to expand its global investment products portfolio. The deal is expected to close by first-quarter 2015. Legg Mason will assume QS Investors' assets under management an
Update – Church of England defends plans to boost hedge fund investments... [more]From FT.com: The man responsible for the Church of England’s £6bn endowment has defended plans to increase its investment in hedge funds, arguing that not all of the industry has “devil’s horns”. Andreas Whittam Smith, First Church Estates Commissioner, told the Financial Times that the Church’s own
North America – Hedge funds hold bulk of foreclosed properties in the U.S.... [more]From Consumeraffairs.com: In the last two years the housing market has begun to recover from the wave of foreclosures that kicked off the financial crisis. With prices up, there are fewer bargains left, except for distress sales that continue to sell below market values. But for the first-time buyer
Europe – Do we need more curbs on European fund manager pay?... [more]From Moneymarketing.co.uk: Can new rules on curbing the pay of fund managers better align their interests with those of investors or will it prove to be just another regulatory burden? Policy-makers from EU member states recently announced planned curbs to fund manager pay that could be brought in a
Niche Investing – Investors fear of bubble in the art market... [more]From Valuewalk.com: As some hedge fund traders are labeling the stimulus-dependent stock market a “bubble,” could another bubble be forming in the fine art market?
In 2013 the art market had its best year ever, with indexes measuring art prices up nearly 15%. “2013 was indeed the best year ev
Activist News – eBay shareholders missing Carl Icahn’s key message... [more]From Valuewalk.com: Part of Carl Icahn’s message is getting through to investors, but it might not be the message Icahn wanted to get through. A new study released by Bernstein research shows that eBay shareholders are divided about whether PayPal should be spun off from the online auctioneer, which