By Davide Barbuscia NEW YORK (Reuters) – BlackRock’s iShares exchange traded funds (ETFs) gained more net flows than Vanguard’s ETFs last year, according to estimates from industry tracker Morningstar, putting the world’s biggest asset manager in the lead for the first time since 2019. BlackRock and Vanguard are the world’s two biggest asset managers as…
By Chris Taylor NEW YORK (Reuters) – When Lauren Hopkins snagged a gig in student affairs at Virginia Commonwealth University in Richmond, Virginia, she figured she knew whom to thank. After all, a close friend of hers was best buddies with the hiring manager. It had to be him, right? Nope. Turns out her “mystery…
By Saqib Iqbal Ahmed NEW YORK (Reuters) – Options traders are bracing for volatility in U.S. bank shares days ahead of an earnings season many believe will bring lower profits and reflect worries over an expected recession. Current market positioning signals a gloomy outlook: The one-month moving average of open puts on the Financial Select…
By Svea Herbst-Bayliss NEW YORK (Reuters) -An investor with a large stake in Venator Materials Plc has asked for board seats, criticizing the chemical company’s poor financial performance and a 96% drop in its share price, in a letter it sent to the board on Tuesday. J&T MS 1 SICAV owns 14.3% of Venator and…
By Saeed Azhar, Niket Nishant and Lananh Nguyen NEW YORK (Reuters) – U.S. banking giants are forecast to report lower fourth quarter profits this week as lenders stockpile rainy-day funds to prepare for an economic slowdown that is battering investment banking. Four American banking giants — JPMorgan Chase & Co, Bank of America Corp, Citigroup…
By Summer Zhen and Samuel Shen HONG KONG/SHANGHAI (Reuters) – Bridgewater has doubled its fund assets in China to more than 20 billion yuan ($2.93 billion) over the past year, according to two sources and government data, a feat that cements its position as the biggest foreign hedge fund in the country. The jump was…
By Nell Mackenzie (Reuters) – Investment management firm AQR’s Absolute Return Strategy in 2022 saw its best year since its inception since 1998, a source with knowledge of the matter said on Friday. The $100 billion firm AQR reaped top performances from several of its strategies, taking advantage of strong trends across futures and markets…
(Reuters) – Kenneth Griffin’s Citadel marked record revenues in its hedge fund and electronic-trading businesses for 2022 despite turmoil in global capital markets, a source familiar with the matter said on Thursday. The hedge fund operation made about $28 billion in revenue, while Citadel Securities, one of the world’s biggest electronic-trading firms, brought in $7.5…
By David Randall NEW YORK (Reuters) – Bruised investors are hoping a so-called Santa Claus rally can soften the pain of a tough year in U.S. stocks and potentially brighten the outlook for 2023. Without a doubt, the market could use some holiday cheer. In December – typically a strong month for equities – the…
By Lananh Nguyen, Saeed Azhar and Lawrence White NEW YORK/LONDON (Reuters) -Bankers in New York and London are bracing for year-end bonuses that recruiters estimate are 30% to 50% lower, while some may receive none at all as dealmaking sputters and economic gloom sets takes hold. Financiers face disappointment when their compensation awards land…
