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Related Special Reports
...But one by Janus Henderson is worth highlighting because it indirectly touches an interesting issue we’ve been thinking about....
...Capital raisings, the industry lifeblood for new funds, have dried up....
...These funds did not appear at all in the previous tax year, when Legal and General Group, Aviva, Rio Tinto, Jupiter Asian Income — which focuses on high-yield Asian companies — and BAE Systems made up the...
...The other activist investors — New York-based activist funds Eminence Capital, Sachem Head Capital Management and Dendur Capital — are pushing to take most, if not all, board seats with the aim of controlling...
...“If you can bear the volatility, the attractive yields plus opportunity for capital appreciation is there over the next six to 12 months....
...If I were betting, I would expect yields to be lower than they are today by year-end,” said Blake Gwinn, head of rates strategy at RBC Capital Markets....
...“Public pension funds have for many years poured money into private equity on the premise that it was high-return and low-risk while illiquidity was deemed not to be an issue,” said Richard Ennis, co-founder...
...Private investors have piled into UK government bonds this year to lock in attractive yields as the Bank of England has kept interest rates at a 16-year high....
...and transaction costs are high.”...
...The early data helped Compass raise $285mn in a private placement of its shares last August from mainstream biotech funds including $10bn fund RA Capital and Surveyor Capital, an equities business owned...
...Biotechs are particularly reliant on equity markets because they often need large amounts of capital to fund drug development before they generate enough revenue to repay debt....
...Diego Megia is targeting $4bn to $5bn of investor capital for the launch of macro hedge fund Taula Capital....
...Janus Henderson, another asset manager, last year closed its UK property fund citing the “ongoing uncertainty faced by daily dealing property funds”....
...For the first time in what feels like a long while, 10-year US yields did not post a multi-decade high yesterday. They fell 9 basis points instead....
...The scale of borrowing is likely to distract markets from their more typical focus on the future path of interest rates, fund managers say....
...“The unsustainability of the fiscal framework is probably the biggest factor in driving this fear of bonds,” says Jim Cielinski, chief investment officer for fixed income at Janus Henderson....
...However, funds are subject to capital gains and income tax, as with gilt funds....
...One scoop to start: Bill Ackman, the billionaire founder of hedge fund manager Pershing Square Capital Management, made a profit of about $200mn from his high-profile bet against US 30-year Treasury bonds...
...“The decision to pause with inflation still at high levels is going to cause consternation in some corners,” wrote Oliver Blackbourn, multi-asset portfolio manager at investment house Janus Henderson....
...lot of cash in money market funds waiting to be deployed....
...Three US activist hedge funds, now among its top 20 shareholders, are sensing an opportunity: Eminence Capital, Sachem Head Capital Management and Dendur Capital....
...Retail investors and fund managers have been snapping up gilts in recent months to lock in some of the highest yields available since the global financial crisis....
...manager Janus Henderson....
...It yields 7 per cent....
...Despite the lacklustre performance, many fund managers remain relaxed about their bets on fixed income, arguing that the higher yields offer a margin for error, meaning holders can still make a positive...
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