Hedge funds grow as rising markets attract new investors

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Hedge funds grow as rising markets attract new investors

Hedge funds grow as rising markets attract new investors
Hedge funds based in the UK have seen their assets under management jump by 8pc in the past 12 months to $440bn (£268bn), as rising stock markets have boosted their returns and attracted new investors. Research by data provider Preqin found that, in total, hedge funds across the world grew their assets by $360bn on the back of investor inflows and positive returns.
The Daily Telegraph Business, p. 10
Also appeared in : Financial Times Companies and Markets, p.22

Appointments
White House eyes top economist Fischer for Fed number-¬two role
Stanley Fischer has emerged as the prime candidate for vice-chair of the US Federal Reserve.
This abstract from the Financial Times was produced by Kantar Media
Financial Times, p. 1
Also appeared in : The Times, p.50, Financial Times, p.1, City AM London, p.8, The Daily Telegraph Business, p.5

Bostock’s return stirs Santander speculation
Nathan Bostock has been appointed deputy chief executive at Santander UK.
This abstract from the Financial Times was produced by Kantar Media
Financial Times Companies and Markets, p. 22

Round Up
Lloyds fined £28m over mis-selling to customers
It has been reported that Lloyds Banking Group has been fined £28m after its staff were found to have sold unsuitable financial products to customers in an effort to earn bonuses and avoid pay cuts. The Financial Conduct Authority (FCA) said Britain’s largest retail bank had ignored numerous warnings about operating warped incentive schemes and that it had found “serious failings” in the way employees sold protection and investment products.
The Daily Telegraph Business, p. 5
Also appeared in : Financial Times Companies and Markets, p.18, The Guardian, p.4, The Guardian, p.29, The Times, p.49, The Times, p.51, The Independent, p.59, The Times, p.50, Financial Times, p.1, The Independent, p.55, The Guardian, p.4, International New York Times, p.16, Independent i, p.10, Financial Times Companies and Markets, p.19, Independent i, p.47, The Independent, p.2, City AM London, p.3, The Daily Telegraph Business, p.5, Financial Times Companies and Markets, p.19

MPC member attacks Carney’s flagship policy
Martin Weale, an independent member of the Bank of England’s monetary policy committee, has claimed that Governor Mark Carney’s flagship forward guidance policy has had a minimal impact on the economy.
The Guardian, p. 27
Also appeared in : The Daily Telegraph Business, p.4, The Times, p.53, The Independent, p.57, Financial Times, p.2, Independent i, p.49, The Times, p.50, City AM London, p.11

RBS to pay $100m over sanctions breach claims
It has been revealed that the Royal Bank of Scotland has agreed to pay $100m (£61m) to a trio of US regulators to settle civil allegations that the bank broke sanctions relating to Iran, Sudan, Cuba and Burma. The bank was deemed to have “lacked adequate risk management and legal review policies and procedures” when dealing with dollar payments outside the US.
The Daily Telegraph Business, p. 1
Also appeared in : The Guardian, p.4, The Independent, p.7, The Times, p.49, Independent i, p.46, Financial Times Companies and Markets, p.22

JPMorgan to settle on Madoff
Jamie Dimon has indicated that JPMorgan plans to pay penalties over its alleged failure to notify US authorities about concerns over Bernie Madoff.
This abstract from the Financial Times was produced by Kantar Media
Financial Times Companies and Markets, p. 17
Also appeared in : Financial Times, p.1, Independent i, p.47

ECB set to get tough on sovereign debt risk
Peter Praet, an ECB board member, has signalled that the ECB will try to force eurozone banks to hold capital against sovereign bonds.
This abstract from the Financial Times was produced by Kantar Media
Financial Times, p. 1
Also appeared in : City AM London, p.9

Finance chief quits RBS
Royal Bank of Scotland has said that Nathan Bostock resigned as chief financial officer after less than three months in the job, Julia Werdigier reported from London.
International New York Times, p. 16

EU set to fast track bank bailout rules in bid to protect taxpayers
Michel Barnier has said that European taxpayers will no longer pay for banks’ mistakes. The EU has reached a deal to speed up the introduction of a landmark law aimed at stopping further state sponsored bailouts. If approved, it will lay down clear rules for closing a bank in any of the 28 countries in the EU.
City AM London, p. 3

Credibility test
The European Banking Authority is to embark on a complex and far reaching set of banking industry health checks as part of plans to unify the single currency.
This abstract from the Financial Times was produced by Kantar Media
Financial Times, p. 10

StanChart faces questions over pace of cost cuts
Standard Chartered, the emerging markets bank, is being urged to start taking costs out of the business as soon as possible in the hope of avoiding the need for a cash call in the New Year.
City AM London, p. 2

Santander in China bank deal
The Spanish lender Banco Santander has agreed to buy an 8 percent stake in Bank of Shanghai, the Chinese bank, for 470 million euros as part of its strategy to increase its presence in Asia.
International New York Times, p. 16

 

The above articles appeared on 12/12/13 reproduced with the kind permission of Kantar Media UK. All rights reserved.

Charterbridge Private Financial Planning, Independent Financial Advice, Thornbury, Bristol.