Private equity can still find 'diamonds in the rough': Apollo exec
NEW YORK (Reuters) - Private equity billionaire Joshua Harris thinks there are still plenty of undervalued companies to improve and profit from, especially away from the public markets.
Australian regulator loses landmark pension fund court battle
SYDNEY (Reuters) - Australia's banking watchdog lost a landmark case on Friday after a court ruled it had not proved its case alleging wealth manager IOOF Holdings had breached pension laws.
China drafts bar for net capital of banks' wealth management units
BEIJING (Reuters) - China released draft rules on net capital management of commercial banks' wealth management units on Friday, a follow-up move to regulate the risk of country's newly structured wealth management industry.
Tottenham Hotspur FC completes 637 million pound stadium refinancing
LONDON (Reuters) - Tottenham Hotspur Football Club has completed a 637 million pound ($798.67 million) stadium refinancing package that included a bond issue to U.S. investors and a term loan, the company said in a statement.
Guggenheim's Minerd says aggressive Fed moves can delay recession, but not avoid it
NEW YORK (Reuters) - Guggenheim Partners global chief investment officer Scott Minerd warned on Tuesday the firm's recession forecast model showed a 58% chance of the economy being in a recession by mid-2020, and a 77% chance of one beginning in the next 24 months.
Firm advertised huge returns. It won an award in Monaco. The SEC calls it a fraud
(Reuters) - Mediatrix Capital said its clients went five years without a single monthly loss. It said it won an award as top global asset manager for its returns over that time. A group in Monaco declared Mediatrix the Best Family Office Asset Manager.
Investor Netter pushes FSD to restructure or return cash
NEW YORK (Reuters) - Investment manager Donald Netter is stepping up his battle with First Trust High Income Long/Short Fund (FSD) by asking the closed-end fund to restructure or give investors their money back because it has been trading at a discount for years.
DoubleLine's Gundlach says U.S. Fed will embark on 'QE lite' 'pretty soon'
(Reuters) - Jeffrey Gundlach, chief executive of DoubleLine Capital, said on Tuesday that the repo market squeeze makes it more likely that the Federal Reserve will resume expansion of its balance sheet "pretty soon."
U.S. value fund managers betting shift to value stocks won't last
NEW YORK (Reuters) - The massive U.S. market rotation into value stocks over the last two weeks is finally giving value fund managers a reason to be hopeful after years of underperformance.
Fund managers have not joined race into cheap, value stocks: BAML survey
LONDON (Reuters) - Fund managers have not piled into so-called value stocks, which have been shunned during the decade-long technology-led boom, even as shares in beaten-down companies have rallied over the past week, a key investor survey showed on Tuesday.