Hints and tips:
...The verbal guarantees were made by Musk to banks as a way to reassure the lenders as the value of the social media site, now rebranded as X, fell sharply after he completed the acquisition last year....
...However, many recipients swiftly sold shares in the fund that they received, missing out on future gains and pushing Fondul’s stock far below the value of these assets....
...They did not put a value on the deal. The agreement marks the latest push into international sport by Saudi Arabia, after deals in boxing, motorsport, football and golf....
...The move still leaves the shares at about 1 per cent of their value a decade ago....
...Investors pulled $33bn from Franklin’s mutual funds in 2023, down from nearly $50bn in 2022, Morningstar Direct data shows....
...First under Schlosstein and then Weinberg, the firm has aggressively pushed into once-esoteric areas of alternative assets investing: helping private equity firms raise money and trade secondary fund slices...
...GQG holds 700,000 Goldman shares, worth about $260mn at Wednesday’s closing price, for its US fund. Goldman is the only US bank in its portfolio....
...The bank said that was partly because the stock market value of banks has dropped since it struck the deal....
...Falling interest rates raised asset values and cut the cost of capital....
...On this day, Bitcoin exchange traded funds (ETFs) were approved for listing on US stock exchanges....
...Franklin and Janus trade at about book value; Abrdn and Invesco at discounts to it. Meanwhile BlackRock is well over two times book....
...Two years ago Franklin Templeton launched a tokenised fund but had attracted only $360mn in assets by the end of March....
...Harriet A, Josh Franklin and Ortenca Aliaj have the scoop....
...So that’s a real disadvantage to an active ETF,” says Johnson of Franklin Templeton....
...It now trades at 1.37 times its book value, says Capital IQ, while Goldman lags behind at about 1 times....
...We show that these changes have large effects in two widely-studied contexts: mutual fund performance and cross-sectional equity pricing....
...Led by pension funds and endowments, big investors sold 99 per cent of their private equity holdings at or below their net asset value on the secondary market last year, according to Jefferies, the most...
...PGIM Quantitative Solutions, the systematic trading arm of the $1.3tn asset manager, started a quantitative microcap strategy last year....
...SoftBank, a large tech investor, has already provided $650mn in financing to Better, and its Vision Fund 2 invested $500mn in April 2021....
...BEN will issue 33.3M shares of stock to fund the deal (based upon 5/30 share price)....
...Investors are also hopeful the SEC will approve an exchange traded fund for bitcoin in coming weeks....
...For instance, Franklin Templeton’s INCM costs 38 basis points, compared with 62bp for the nearest mutual fund alternative. “It creates competition for their existing products,” said Armour....
...In 2012, Bill Ackman convinced 3G Capital to merge with Justice Holdings, a UK special purpose acquisition company, sponsored by the hedge fund manager, Martin Franklin and Nicolas Berggruen....
...Bernstein, the US investment bank, last month predicted bitcoin could more than treble in value to $150,000 by 2025....
...And even now, in 2023, it's trading below its projected book value, which is quite remarkable. MIKE MAYO: The problem at Citigroup is simply the complexity....
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