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...XTX, one of the world’s biggest proprietary trading and market-making groups, had sought to use Aviva Investors’ and L&G Investment Management’s money-market funds to invest some of its own cash....
...He added: “If you’re growing at the pace that we are, then the P&L does manifest itself in cash requirements.” Sales at Interpath’s advisory business climbed to £26.9mn, up from £2.8mn a year earlier....
...Nunes, a former Republican congressman, named four equities market makers in his letter: Citadel Securities, Virtu, Jane Street and G1 Execution Services....
...L&G declined to comment....
...Thus only a fraction of overall AUM is deployed in strategies that have a direct impact on the VIX® index (e.g. 1-month over/underwriting strategies on the S&P 500 index)....
...The company’s Ageing Population and Healthcare Innovation ETFs have also fallen out of favour, alongside the L&G Cyber Security Ucits ETF....
...While the S&P 500 has advanced steadily since October 27 (+22.1%), stock leadership has flipped 180° since the start of the year on shifting Fed policy forecasts....
...Free cash flow, however, reconciles those book accounting accruals of the P&L ledger to capture the real flows of actual dollars coming in and out....
...The L&G transaction came on the same day that Rothesay, a UK life insurer, agreed to take on £4bn of the pension liabilities of the Co-operative Group, whose operations span supermarkets to funeral services...
...But a statement amounting to “we will work harder on quality now” is not reassuring, though I am sure Boeing will work harder at it; everyone in the C-suite must now know they are one incident away from...
...Other bonds with triple C ratings were issued by cyber security groups McAfee, Cloud Software Group and healthcare services company LifePoint Health....
...With just 1.2bn people having an income above $12K a year, Apple is valued on an EV per pop of c$2,300, which requires c$800pp of annual spend, on the global equity strategy team’s calculations. 4....
...“We are expecting a similar number of large transactions to close in the second half of the year,” L&G said....
...To be fair to Kenny G, his position is more nuanced than this quote would suggest (even if we think there’s an element of Rorschach’s “you’re locked in here with me” vibe here)....
...TCI made $12.9bn for investors and ended last year up 33 per cent, ahead of the S&P 500 index’s 24 per cent rise....
...SRT transactions have picked up, more than doubling globally to €200bn in the two years to 2022, according to data from S&P Global....
...Revenues have been flat for the past seven years, according to S&P CIQ data, which means they are falling in real terms....
...Of this gamma supply, ~70% is on the S&P 500/SPY options,~25% is in Nasdaq/QQQ, and the remainder is a variety of index/ETF exposures (mainly Russell 2000, MSCI EAFE, and MSCI EM) and single names (mainly...
...As Bolgona puts it: From a high level, relative to electing to account for loans at amortised cost, electing the fair value option provides a P&L tailwind during periods of loan growth due to recognising...
...Since 1990, missing the 30 best days of the S&P 500 cuts your compound returns in half....
...to S&P Global Ratings’ definitions....
...As much as 45 per cent of the financial companies in the S&P 500 have no women among their “named executive officers”, those C-suite members important enough to have their pay officially disclosed, according...
...“PE compensation is predominantly derived from the P&L of the firm — which is based on the management fee of the fund, and this is locked in for the life of the fund,” said Tom Thackeray, a partner at Heidrick...
...“My main concern is how you make this scaleable, and make sure we don’t combine one topic, which is debt restructuring, and another topic, very different, this payment for nature services.”...
...(c) 1 LOB (“Services”) = almost all of Citi’s market cap....
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