SEC introduces new asset manager report rules... [more]Komfie Manalo, Opalesque Asia: On Wednesday, the U.S. Securities and Exchange Commission (SEC) voted to seek comment on a new rule requiring bond funds to report the vulnerability of their holdings in relation to interest-rate changes, reported
Z Capital pushes for Affinity Gaming sale... [more]Bailey McCann, Opalesque New York: Las Vegas-based Affinity Gaming is under new pressure to sell according to a letter sent by Z Capital, a Chicago-based private equity firm. Z Capital is the largest shareholder of the company with an approximately 40% stake. Z made an offer to buy the remaining
Study says bad behavior in finance persists... [more]From NYTimes.com: In some ways, Wall Street has cleaned up its act after the 2008 financial crisis, with firms carrying much less risk and banks increasing their capital requirements. Yet the ethos of the finance industry remains worrisome, according to a new study, Andrew Ross Sorkin writes in the
The $10 hedge fund supercomputer that’s sweeping Wall Street... [more]From Bloomberg.com: It sounds like the mother of all spreadsheets: 1 million rows, 1 million columns -- 1 trillion entries in all. Fortunately, Braxton McKee isn’t using Excel. Instead, he’s tapping into the cloud to crunch all that market data on the cheap with software he built that learns as it g
How tiny Grinnell College’s endowment outperformed the Ivy League... [more]From Marketwathc.com: Grinnell College, a small liberal-arts school in the middle of Iowa, is giving much larger colleges a run for their money, literally. In 2014, the school’s $1.8 billion endowment posted a 20.4% return — tying it with the University of Minnesota for the best one-year performance
Legal - Court rules that oral agreements with asset managers may be binding... [more]From AI-cio.com: A former manager for the California Public Employees’ Retirement System (CalPERS) has won its appeal of a breach of contract claim, arguing that the fund promised but didn’t honor a $100 million mandate.
Overturning a prior dismissal, an appeals judge concluded that US equitie