Portfolio
-
Sotheby's 3Q loss widens
Sotheby's third-quarter loss widened as the art auction house posted a worst-than-expected decline in revenue and a tax expense.
-
Going local --- In a shaky art market, collectors stick close to home
From Michigan to Italy, contemporary-art collectors are passing on works by international art stars and skipping far-flung art fairs and auctions. This year, they're buying local.
-
Tax amnesty proves a hit among Italians
A recently launched Italian tax amnesty is doing better than expected and could surpass the 100 billion euros ($149 billion) target of repatriated capital, with domestic asset managers likely benefiting from the flood of new funds, several people involved in the issue said.
-
Citigroup to rebrand embattled alternative investments arm
Citi Alternative Investments, the division of Citigroup containing its embattled hedge fund operations, is said to relaunch itself after almost two years of underperformance, wrangling and client dissatisfaction, according to a report in the Financial Times.
-
Debt defaults hit record but expected to slow
Default rates of low quality debt at European companies are expected to slow after reaching a peak at the end of September; the figures suggest that private equity firms may have reached their worst point in the credit crisis.
-
Swedes rewrite directive to remove hedge fund leverage cap
The Swedish Government, holder of the European Union's six-month rotating presidency, has proposed removing a general limit on hedge funds' leverage, one of the three most contentious issues that are currently drafted in the EU's directive on alternative investment fund managers.
-
US hedge funds poised for bespoke account growth
The increase in demands by European investors that hedge funds run their money in separate accounts is now being mirrored in the US, where the amount of money run in these structures is predicted to jump by 41% in the next two years.
-
GLG third-quarter loss narrows on fewer charges
Hedge-fund manager GLG Partners' third-quarter loss narrowed on fewer charges as the company reported higher assets under management but lower revenue.
-
Institutions punish Man – although not as much as some expected
Institutional investors have pulled nearly a third of their money from Man Group's funds this year, after the reputation of the listed hedge fund manager suffered from investing in two funds linked to Bernard Madoff.
-
UBS wealth unit takes £33m hit on rogue trades
UBS has been forced to stump up £33m (€37m) after staff in its London-based wealth management division used client accounts to make unauthorised trades in precious metals and foreign exchange. The UK market regulator slammed UBS for its "inadequate systems and controls" in a wide-ranging critique of the business.
Markets »
- US and UK Government bonds are "a cocktail of risk"
- Rasmussen has a point on alternative fund managers
- Alternative investors lose locust image
Products and strategies »
- US and UK Government bonds are "a cocktail of risk"
- Rasmussen has a point on alternative fund managers
- Alternative investors lose locust image
Tax, trust and legal »
- In Tax Case, 4 Days Save Robertson $27 Million
- UK tax authorities cast net wider for offshore money
- End of the tax haven vacation
Alternatives »
Most Read
Brummel
Relocation, relocation, relocation
Banks have never been shy of firing staff at the merest whiff of a downturn. First the fat, then the muscle and finally the bone. In the past, cuts have been so deep that firms have found it hard to benefit when the markets rebounded, paying over the odds to restaff at speed. Such wild oscillations in staffing numbers are known as “doing a Merrill”.
Rich Monitor
Sotheby's 3Q loss widens
Sotheby's third-quarter loss widened as the art auction house posted a worst-than-expected decline in revenue and a tax expense.
