FTfm: Quant hedge funds hit by bonds sell-off, Goldman Sac...


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Financial Times
FTfm
Wednesday June 05 2013

Financial Times - FTfm
 
Quant hedge funds hit by bonds sell-off
Bond yields have risen from some of their lowest levels in decades in the past fortnight, leaving trend-following funds with large holdings badly hit
http://link.ft.com/r/G8OTZZ/OF0AE5/BMU6DR/L9Y48J/A5L1WE/OS/h?a1=2013&a2=6&a3=5
 
Goldman Sachs steps up renewables push
Investment bank's private equity arm is investing a further $135m into ReNew Wind Power, an Indian wind farm group, in a sign of growing interest in Asian renewables
http://link.ft.com/r/G8OTZZ/OF0AE5/BMU6DR/L9Y48J/Z8QEO0/OS/h?a1=2013&a2=6&a3=5
 
Banks need stakeholder equilibrium
Relative power among interested parties in the banking sector can vary widely, which makes it difficult to evaluate risks and returns
http://link.ft.com/r/G8OTZZ/OF0AE5/BMU6DR/L9Y48J/SUW4L1/OS/h?a1=2013&a2=6&a3=5
 
Credit hedge fund CQS moves into equities
CQS's plan to branch into equities is a sign that top managers are diversifying in response to the high levels of capital flowing into the industry
http://link.ft.com/r/G8OTZZ/OF0AE5/BMU6DR/L9Y48J/PNM7PT/OS/h?a1=2013&a2=6&a3=5
 
US dividend play at risk of overrunning
High yielding stocks in utilities and telecoms have fallen sharply, thanks to jump in bond yields that has reduced attractiveness of such companies
http://link.ft.com/r/G8OTZZ/OF0AE5/BMU6DR/L9Y48J/K9VCJN/OS/h?a1=2013&a2=6&a3=5
 
Creditors likely losers from IMF rethink
IMF paper finds debt sustainability assessments have often proved too optimistic, and restructurings are often done too late in the process
http://link.ft.com/r/G8OTZZ/OF0AE5/BMU6DR/L9Y48J/PNM7P8/OS/h?a1=2013&a2=6&a3=5
 
Brazil slashes financial transactions tax
Government cuts tax from 6% to zero in move that signals concern that Brazil's currency is weakening too quickly against the dollar
http://link.ft.com/r/G8OTZZ/OF0AE5/BMU6DR/L9Y48J/EKGBYY/OS/h?a1=2013&a2=6&a3=5
 
Mark to market best to spot risky banks, says report
The study could give fodder to proponents of "fair value" accounting, just as the Financial Accounting Standards Board works to finalise an update
http://link.ft.com/r/G8OTZZ/OF0AE5/BMU6DR/L9Y48J/SUW4LV/OS/h?a1=2013&a2=6&a3=5
 
ENRC faces shareholder backlash
Up to half the mining company's shareholders are expected to vote against some resolutions at the group's annual meeting in London
http://link.ft.com/r/G8OTZZ/OF0AE5/BMU6DR/L9Y48J/VTDKBA/OS/h?a1=2013&a2=6&a3=5
 
Brussels delays bonus cap vote
European Parliament to vote on the controversial issue of bonuses for fund management staff, which falls under Ucits V, one month later than planned
http://link.ft.com/r/G8OTZZ/OF0AE5/BMU6DR/L9Y48J/87UP5Z/OS/h?a1=2013&a2=6&a3=5
 
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Exchange Traded Funds
BlackRock plans cross-border European ETF
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Video
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Shareholder activism runway blocked

Colin Melvin, chief executive of Hermes Equity Ownership Services, tells FTfm’s Madison Marriage about the conflict of interests in financial services that is putting up blocks to the take-off of shareholder activism.


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