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Fund puts 40% of assets in investments including equities
- It seeks annual return of 5% or more to meet members’ needs
Thailand’s biggest money manager is looking for guidance from international advisers to help boost returns after its assets under management surged almost two-thirds in five years.
The Social Security Office, which manages social-security funds for 14 million Thais, is seeking to draw new investment guidelines and will invite foreign companies to compete for advisory services, said Jeerisuda Iamsakul, the state agency’s head of investment strategy and research department. With the recent equity plunge affecting about 14 percent of the total assets invested in stock markets, the fund’s first-half results missed last year’s return of about 6 percent, she said, declining to give further details…
Supply Crunch Lifts Oil to 3½-Year High
By · CommentsStrikes by oil-and-gas workers in Norway and Gabon compound outages in Libya and Canada
Oil prices climbed toward a 3½ -year high Tuesday, supported by supply issues across several major producing countries.
Light, sweet crude for August delivery rose 0.4% to $74.11 a barrel on the New York Mercantile Exchange, near its highest close since November 2014. Brent, the global benchmark, rose 1% to $78.86…
Supply Crunch Lifts Oil to 3½-Year High
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Bank seeks $5 billion in new revenue over the next three years
- The firm now has a mere 2% of the ultra-high net worth market
The best time to get hired to manage a billionaire’s money is while your firm is helping to create that fortune.
That’s the thinking behind Goldman Sachs Group Inc.’s push to have its dealmakers help the bank’s wealth managers land new clients. The aim is to leverage the company’s dominance advising on acquisitions and equity offerings to narrow the gap with larger rivals in catering to the world’s richest…
Forecasts suggest U.S. corporations remained on strong footing heading into the second half of the year
Corporate earnings are poised to extend a run of double-digit growth in the second quarter, providing a balm for a stock market that has languished as investors have grappled with threats ranging from fractious trade relations to tightening monetary policy.
Analysts expect earnings from S&P 500 companies to grow 20% in the second quarter from the year-earlier period, according to FactSet. Despite fears that earnings peaked in the first quarter, they are still on pace for the second-fastest rate of growth in nearly eight…
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Brookfield, Durst, Revolution, RXR Realty among investors
- Funding round said to value company at more than $500 million
Convene, a New York-based real estate startup that specializes in flexible meeting and working space, has raised $152 million from investors including Revolution Growth, Brookfield Property Partners LP and the Durst Organization, its co-founders said.
The Series D round values the company at more than $500 million, according to a person with knowledge of the matter who asked not to be named. Revolution, RXR Realty, David Rubenstein’s Declaration Capital and QuadReal Property Group are among the company’s new investors, while existing investor ArrowMark Partners led the round and was joined by other earlier Convene investors including Brookfield, Durst, Conversion Venture Capital LLC and Elysium Management. BlackRock Inc. is another returning investor, according to people with knowledge of the matter. Edward Sweeney, a BlackRock spokesman, declined to comment…
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Bright, Oscar rapidly expand footprints as premiums climb
- Insurers shrug off Trump’s push to undermine health law
Republicans remain eager to gut the Affordable Care Act, but some health plans say there’s no time like the present to be in the Obamacare business.
Rising premiums in the marketplaces created by the health law are enticing insurers, who are looking past the political turbulence and a curveball this weekend from the Trump administration. More than a dozen insurers plan to enter new Obamacare markets for 2019, according to the Kaiser Family Foundation…
Startups Lead a New Rush Into Obamacare’s Now-Profitable Markets
Morgan Stanley Elevates CEO Contender
By · CommentsWall Street firm is giving trading executive Ted Pick an expanded role that includes investment banking
Morgan Stanley offered more clues into its slow-burning succession race, elevating a top trading executive seen as a favorite to eventually replace Chief Executive James Gorman.
Ted Pick, Morgan Stanley’s trading chief, will add oversight of investment banking, a move that puts him in charge of half of the firm’s revenue and cements his frontrunner status…
Morgan Stanley Elevates CEO Contender
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Money pulled in June for fourth month, Bloomberg estimates
- Janus Henderson unconstrained fund lost 6.3% in first half
Investors pulled a total of about $580 million from Bill Gross’s bond fund in the first half of this year and he turned in the worst performance among his peers during the period.
June marked the fourth straight month of withdrawals for Gross’s Janus Henderson Global Unconstrained Bond Fund and the outflows dragged assets down to $1.48 billion, according to Bloomberg estimates. The go-anywhere fund declined 6.3 percent this year through June…
Bill Gross’s Slumping Fund Sees $580 Million of Outflows This Year
Blackstone to Seek More Than $20 Billion for Buyout Fund
By · Comments-
Firm plans to start marketing buyout pool later this year
- Private equity firms hold record $1 trillion in dry powder
Blackstone Group LP plans to start raising its next global private equity fund three years after gathering about $18 billion from investors for its last pool.
The firm is expected to seek more than $20 billion when it starts marketing its eighth buyout fund later this year, according to people familiar with the matter who asked not to be named. New York-based Blackstone’s prior vehicle wasn’t even a third invested as of March 31, according to a regulatory filing…
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No cabinet job for Simsek, last man standing from old A-team
- With fresh mandate, president also makes move on central bank
Turkish President Recep Tayyip Erdogan named his son-in-law as economy czar in a new administration and removed the last member of an investor-friendly financial team that’s been gradually pushed to the sidelines. The lira plunged the most since a failed coup in 2016.
Berat Albayrak, a former energy minister who entered parliament for the first time in 2015, will be in charge of a new ministry of treasury and finance, combining what used to be the two most powerful economic jobs. He’ll replace Mehmet Simsek as holder of the most senior economy portfolio…
Cathie Mahon, who runs the National Federation of Community Development Credit Unions, emerges as a champion for grass-roots financial institutions.
For millions of working Americans, the 6,000-plus credit unions across the nation can serve as a paycheck-to-paycheck life preserver. Credit union tellers can refer customers with low balances to in-house financial literacy counselors, and their loan desks frequently offer the best rates, and lowest fees, in the country. A third of these institutions—almost 2,200—cater to low-income customers as standalone businesses or small chains…
The CEO Who’s Leveling the Playing Field Between Credit Unions and Big Banks
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Foreign secretary follows Davis resignation over Brexit plans
- May proposing U.K. maintains close ties to EU after divorce
Prime Minister Theresa May battled to stave off a full-blown crisis after three ministers quit within 24 hours to protest her Brexit plan…
May Fights to Contain Brexit Crisis After Key Ministers Quit
China’s factory inflation accelerated in June as the price of commodities held up.
The producer price index rose 4.7 percent from a year earlier, compared with a projected 4.5 percent increase in a Bloomberg survey of economists and a 4.1 percent gain in May. The consumer price index climbed 1.9 percent in June, the statistics bureau said Tuesday, matching the forecast…
China Factory Inflation Accelerates as Commodity Prices Edge Up
SAN FRANCISCO — Uber wants to become a destination for all things transportation, no matter what you ride.
The ride-hailing company has made investments to prepare for the future of flying taxis. It acquired Jump, an electric bicycle company, for around $200 million this year. And on Monday, Uber said it had cut another check to invest in Lime, a company best known for offering rides on motorized scooters…
A Taste of Lime: Uber Invests in an Electric Scooter Company
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Yen, Swiss franc, Singapore dollar and the greenback top picks
- Emerging market FX seen struggling; Kiwi worst G10 performer
If a U.S. or global recession is looming, it’s time to own the Swiss franc, Singapore dollar, U.S. dollar and Japanese yen — and ditch emerging market currencies, according to analysts from JPMorgan Chase & Co.
“Recessions are when creditors get to ask for their money back,” analysts including Paul Meggyesi said in a note dated July 6. “Three of the top four currencies to own during a recession are those of countries that boast extremely strong external positions.”…
There are 255 acres, perfect for practicing a touchdown trot.
At the time Sharon Magness Blake’s first husband, Tele-Communications Inc. founder Bob Magness, died in 1996, she estimates they had a ranch with about 900 Arabian horses. She continued racing for about five years after her husband’s death, she says, “but then it became overwhelming.”
Magness Blake began to sell the horses off, and by the time she began looking for a new ranch in 2002 with her future husband Ernie Blake, “I only had about 30 horses,” she says. Of the steeds she kept, one was of particular importance: Thunder, the official mascot of the Denver Broncos.
LONDON — When Adyen, a Dutch financial payments processor, began trading publicly last month — and nearly doubled its stock price on its first day — partners at Index Ventures had reason to cheer.
It was the second investment by the venture capital firm to cash out in a short time. Just a month earlier, the European mobile payments company iZettle was sold to PayPal for $2.2 billion, or nearly double what that the start-up had hoped to fetch in its own initial public offering…
Index Ventures Has Been on a Run. Now It’s Raising Funds to Keep It Up.
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Silverstein buys Upper West Side properties for $1.15 billion
- ‘The View’ is among the ABC shows moving to new location
Walt Disney Co. agreed to sell its offices on the Upper West Side of Manhattan and purchase rights to another site, which will become the entertainment giant’s new New York campus.
The company is selling its West 66th Street location and related buildings for $1.15 billion to Silverstein Properties Inc. and is acquiring 99-year rights for land at 4 Hudson Square from Trinity Church Wall Street in a separate transaction valued at $650 million…
For close to a century leading up to its independence in 1947, India operated under a system of British governance known as the Raj, taken from a Sanskrit word meaning “kingdom” or “rule.” Then, more or less until the introduction of economic liberalization in 1991, the country stagnated under a planned economy whose overwhelming regulatory demands were described as the License Raj.
The title of the new book by James Crabtree, “The Billionaire Raj: A Journey Through India’s New Gilded Age,” suggests that India has now come under the grip of a new but no less troublesome regime. In a nation no longer at the mercy of imperial administrators and maharajahs or petty bureaucrats, “a new system has grown up,” and the emerging superrich are firmly in charge…
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APS CIO Wong says gain could be 20% over next 3 years
- Stocks could rise as much as 50% if tensions ease: Wong
Chinese stocks may rise 20 percent over the next three years even if conflicts with the U.S. persist, a $3 billion hedge fund manager said as the trade war between the nations kicked off.
If tensions ease over trade and technology, the gain could be as much as 50 percent, said Wong Kok Hoi, founder and chief investment officer of APS Asset Management Pte in Singapore. That compares with the CSI300 Index losing about 14 percent so far this year…
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Volatility, political risks cause losses in merger arbitrage
- Strategy faces accelerated outflows as investors shift money
In a booming year for mergers and acquisitions, hedge funds that seek to make money from corporate marriages are struggling.
The value of deals surged 43 percent in the first half of the year, with large takeovers reaching the highest number since before the financial crisis. That should have offered a fertile hunting ground for managers who bet on or against such deals. Yet their investment pools, known as merger arbitrage funds, lost money in the period, sending some investors fleeing…
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Commercial property investment from China sank 81% on year
- Levels of Chinese investment lowest since 2012, CBRE says
Chinese investment in Australia’s commercial property has plummeted to the lowest level in six years as mainland capital controls bite.
Direct investment fell 81 percent to A$250 million ($187 million) in the first half from a year earlier, property brokerage CBRE Group Inc. said in a report on Monday…
Chinese Property Buys in Australia Plummet on Capital Controls
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Sunsuper investment chief puts more money into unlisted assets
- Equity valuations getting increasingly stretched, Patrick says
A regional airport in the U.K. and an express railway in Sweden are two places a $41 billion Australian pension fund thinks might be safe from the inevitable end to the economic cycle.
Uncertainty on global trade and a sharper than expected slowdown in China has prompted Sunsuper Pty Ltd. to shift more of its money into infrastructure assets, according to chief investment officer Ian Patrick. Meanwhile, the A$55 billion pension manager that counts staff at Australia’s central bank and Unilever among clients is paring exposure to listed securities including equities as valuations soar, he said…
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More than $2.5 trillion in mergers were announced during the first half of the year, as fears of Silicon Valley’s growing ambitions helped drive a record run of deal-making.
Four of the 10 biggest deals were struck in part to fend off competition from the largest technology companies as the value of acquisitions announced during the first six months of the year increased 61 percent from the same period in 2017, according to data compiled by Thomson Reuters. That has put mergers in 2018 on pace to surpass $5 trillion, which would top 2015 as the largest yearly total on record…
Singapore imposed cooling measures on its property market last week, in a bid to contain what the central bank described as ‘euphoria’ in the sector. Here are three charts showing some of the factors behind the government’s concerns:
1. Prices
Residential property prices have rebounded since the middle of last year, after Singapore reduced a stamp duty on sellers and eased mortgage restrictions in March 2017. In the absence of the cooling measures imposed last week, prices would likely have continued higher to revisit their 2013 peaks, according to Christine Li, a senior director of research at Cushman & Wakefield. That’s now unlikely to happen, Li said…
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Investors say some notes didn’t sell out as underwriters claim
- Bond managers said to sell at better rates to investors later
When Japan’s Denso Corp. issued 40 billion yen ($362 million) of bonds in a recent offering, its underwriters said the notes sold out. Investors weren’t so sure that was true.
That’s a reflection of a peculiar practice in Japan: underwriters keep it to themselves who the investors buying bonds are, unlike in the U.S. and Europe, where managers usually share information about the bidders. In Japan, if a sale doesn’t attract enough demand, bankers can keep the unsold portion themselves but still declare that everything was sold…
SIX, the owner of Switzerland’s securities exchange in Zurich, is creating platform for trading digital assets, boosting a nascent industry that some countries are trying to suffocate. The new platform will offer a “fully integrated, end-to-end trading, settlement and custody service,” the world’s first to do so, the bourse said in a statement Friday. The parent exchange, regulated by Finma and the Swiss National Bank, intends that the new SIX Digital Exchange will enjoy the same standard of oversight and regulation.
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Goldman’s Yeh is the latest to leave a bank for a biotech firm
- Lazard, BofA, Deutsche Bank have seen similar departures
Investment bankers in Hong Kong are catching biotech fever.
At least seven senior bankers and analysts from top-tier securities firms have quit to join biotechnology companies in the city since December, responding to the industry’s growing demand for financial expertise after rule changes at Hong Kong’s stock exchange smoothed the path for biotech initial public offerings…
Bankers Quit Goldman, Citigroup for Biotech Riches in Hong Kong
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FDI in British financial firms dropped by 26%, EY report says
- London remains most attractive EU city for foreign investment
Britain’s financial-services industry is battling a drop in foreign investment while some of its European counterparts enjoy big gains, according to a new study that displays the starkest indication yet of Brexit’s impact on the sector.
Investment in Britain’s financial-services firms from abroad fell 26 percent last year, EY said in a report released Monday. During the same period, Germany experienced a 64 percent increase, while the figure for France more than doubled. London remains the most attractive EU city for investment in financial services, but the gap with Paris, Frankfurt and Dublin is narrowing, EY said…
The pace of wage gains in Japan is accelerating markedly, thanks to the exceptionally tight labor market.
Earnings jumped in May as the results of spring wage talks came in and the jobless rate hit a quarter-century low. To-be sure, stronger and sustained raises are needed for the Bank of Japan to hit its 2 percent inflation goal, and higher incomes have yet to boost consumer spending…
Central Banks Are Ramping Up Their Risk Taking
By · Comments-
Banks are allocating more to non-traditional assets: survey
- Change of investment strategy prompted by low interest rates
Central banks are ramping up their risk taking.
The days of plain old bonds and gold are over as central banks bet some of their trillions of dollars of foreign reserves on mortgage-backed securities, corporate debt, equities and emerging-market debt…
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Rohingya crisis proving a major deterrent for multinationals
- Ride hailing plaftorm Grab one of few new companies to launch
Among business leaders in Myanmar, would-be investment from the U.S. and Europe is known by the wry acronym NATO.
“No Action, Talk Only,” Sean Turnell, special economic consultant to Myanmar’s leader Aung San Suu Kyi, said in an interview, underscoring the country’s history of missed opportunities and unfulfilled potential…
Myanmar’s Waiting for the Western Investment That Never Came
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Pound in focus as Brexit secretary quits May’s government
- Earnings season begins in U.S. this week after jobs strength
European stocks followed advances across Asia and U.S. futures gained as investors set aside concern about escalating trade tensions to focus instead on the upcoming earnings season. The dollar fell against major peers.
Miners and energy companies were among the biggest winners in the Stoxx Europe 600 Index as the benchmark gauge headed for a fifth consecutive advance, the longest winning streak since March. Contracts on the S&P 500, Dow and Nasdaq all pointed higher and the MSCI Asia Pacific Index was on course for the biggest jump in a month. Commodities and emerging-market equities found support from the weakening greenback, while Treasuries fell. The Chinese yuan rose and the British pound climbed even as the government lurched into yet another crisis…
The Banker’s Wife, a new novel from Cristina Alger, tracks a group of globe-trotting financial criminals and the women who love them.
Money is haircuts whenever you want. Money, also, is the ability to have people killed. In Cristina Alger’s new novel, The Banker’s Wife(G.P. Putnam’s Sons, $27), a world of wealth is one of both heady excess and rotting corruption…
What the Most Hyped Financial Thriller of the Summer Gets Right
Earnings Season Another Reason for Asia Traders to Sell
By · Comments-
Analysts cut Asian EPS estimates in contrast to Europe, U.S.
- Hong Kong, India, Singapore may have pockets of opportunity
Those hoping the upcoming earnings season will give some respite to tumultuous Asian stock markets might be in for disappointment.
Analysts and strategists have been trimming their expectations for companies in the MSCI Asia Pacific Index, in direct contrast to firms from Europe and the U.S., where estimates are still rising. And the early results from South Korea and Japan are pointing to a bleak picture…
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Trump attacks OPEC over Twitter for not helping cut gas prices
- Approval at 42 percent, gas prices up about 60 cents in a year
U.S. President Donald Trump may have had an eye on his approval rating as he continues to complain over Twitter to OPEC about the high cost of gasoline.
“REDUCE PRICING NOW!,” Trump tweeted on Wednesday, accusing OPEC of “doing little to help” lower pump prices. OPEC’s de facto leader Saudi Arabia told the group it pumped 10.5 million barrels a day in June, about 500,000 more than the previous month, according to people familiar with the matter…
Where Investors Can Stash Their Cash as Tariffs Kick In
By · Comments-
Some still like yen, which has been hit by Fed tightening
- Gold’s allure has been damaged by strengthening greenback
The U.S. might be the trigger for escalating trade tensions with China, but it turns out that its currency could still be the best place for global investors to find safety as the dispute comes to a fresh crossroads Friday with tariff increases set to take effect.
When the owner of Richard Nixon’s former beachfront estate in San Clemente, California, listed the 15,000-square-foot home three years ago for $75 million, you may have been tempted. Now, with the historic property back on the market for $63.5 million, you can hardly say no.
Yet that’s just what buyers are saying to extravagant real estate listings from the sunny sands out west, where a residence owned by Warren Buffett has been on sale for more than a year, to the austere brownstones of Manhattan and the opulent hedges of Greenwich, Connecticut…
Nixon Estate, Buffett Beach House Go Begging in Languishing Luxury Market
The link between private equity and pension funds means states are inadvertently cashing in on practices they’ve set out to stop.
Several states have barred medical providers from shocking patients with surprise bills for thousands of dollars, but pensions in those same states are poised to profit from the practice.
Public-employee retirement funds in California, New York, Oregon and other states have heavily invested with a private-equity firm, KKR & Co., that’s been buying up companies known for demanding steep payouts for emergency medical treatment and hospital stays that may not have been entirely covered by a person’s health plan…
Credit Suisse Fined $77 Million in Corruption Inquiry
By · CommentsCredit Suisse is paying $77 million to the Justice Department and the Securities and Exchange Commission to settle charges that it hired the relatives of influential Chinese officials in order to win business for the bank in the country.
Prosecutors said Credit Suisse’s managers in Asia admitted that between 2007 and 2013 they hired job candidates suggested by powerful people in China’s government and state-run corporations with the expectation that the bank would receive lucrative new deals in return…
Credit Suisse Fined $77 Million in Corruption Inquiry
America’s escalating trade war is already hurting investment and threatens to undermine an otherwise strong business outlook, the Federal Reserve said, citing industry contacts from around the country.
“Many district contacts expressed concern about the possible adverse effects of tariffs and other proposed trade restrictions, both domestically and abroad, on future investment activity,” according to minutes released Thursday of the Fed’s June 12-13 policy meeting in Washington. “Contacts in some districts indicated that plans for capital spending had been scaled back or postponed as a result of uncertainty over trade policy.”…
Trump’s Trade War Is Already Hurting U.S. Investment, Fed Says
$49 Billion Fund Loads Up on Chinese Shares
By · Comments-
UniSuper mandated BlackRock this week to buy China A-shares
- PBOC signals no change in policy, says UniSuper CIO Pearce\
A bear market, the yuan’s worst month since 1994, and a looming U.S.-China trade war all suggest one thing to John Pearce. Buy Chinese equities.
The selloff in the Shanghai Composite Index, down more than 20 percent from its January high, is overdone, and investors have read too much into the yuan’s depreciation, said the chief investment officer of UniSuper Management Pty, which controls A$67 billion ($50 billion) of assets primarily for Australia’s higher education and research sector…
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Discussions for Manhattan property are said to be exclusive
- Owner is Richard Ravitch, former New York lieutenant governor
Brookfield Property Partners LP is in talks to buy Waterside Plaza on the East Side of Manhattan for about $600 million, according to people with knowledge of the matter.
The property, which includes apartments, stores and space rented to the British International School of New York, is owned by Richard Ravitch, a former New York lieutenant governor and onetime chairman of the Metropolitan Transportation Authority. A deal has yet to be finalized and it’s possible it could fall apart, said one of the people, who asked not to be identified because the transaction is private…
A Chinese court’s preliminary injunction stopping Micron Technology Inc.from selling 26 products may not pose as big of an obstacle as investors think, analysts say, noting that the disruption could drive up industry prices. Stifel called the injunction a possible “paper tiger.”
Micron shares rose 4 percent in pre-market trading after the company reiterated quarterly sales guidance Thursday and said it only expects the injunction to hurt revenue by about 1 percent. RBC wrote earlier that the chipmaker would only face limited downside…
Micron’s China Woes May Not Be the Disaster Investors Thought
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‘I could buy five cars for that much,’ limousine owner says
- Number of autos rising much faster than parking-spot growth
Spare a thought for Hong Kong’s beleaguered car owners.
The market for parking spaces is hotter than ever as a single spot in a luxury development in Kowloon’s Ho Man Tin district changed hands for a record HK$6 million ($765,000)…
Vancouver’s housing market showed continued signs of weakness in June, as affordability worries curb demand from buyers.
Sales were down 14 percent compared with May, the first monthly decline since January when tougher federal mortgage rules took effect, according to a report Wednesday by the Real Estate Board of Greater Vancouver. The number of transactions was 29 percent below the 10-year average for the month of June, the group said. Adjusting for seasonality, sales fell by about 5 percent to the lowest since 2013, according to Bloomberg calculations…
Pricey Vancouver Housing Market Weakens With Buyers on Sidelines
Why Goldman Sachs Is Lending to the Middle Class
By · CommentsIts online business Marcus aims to be a “teddy bear” rather than a “vampire squid.” But some borrowers end up in a hole they can’t get out of.
Kade Parker had never heard of Goldman Sachs Group Inc. in 2016, when a letter from the bank offering his wife a loan arrived at his house in Hornbeck, La. (population 480). The 27-year-old oil worker had recently taken a pay cut and needed to reduce his monthly credit card bills. After calling to make sure it wasn’t a scam, he says he took out a loan for around $15,000. “We were trying to move some money around, make it easier on us,” Parker says. “I told them the situation, they said no problem.” Then he got laid off, and a year and a half later he filed for bankruptcy, listing more than $135,000 in unsecured debt, including 10 credit cards and loans from online lenders SoFi, Prosper, and Affirm…
Beware China Equity Bulls
By · CommentsReturn on equity is a dead metric.
The next time an analyst tells you that China stocks look cheap, take it with a grain of salt.
In Asia’s biggest economy, key accounting metrics such as return on equity are dead…
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Contract comes 2 years after playing role in bungled census
- Government savings from 5-year agreement estimated at A$100m
International Business Machines Corp. has secured a A$1 billion ($740 million) agreement to become a central technology partner of the Australian government over the next five years.
The contract will see services such as automation and blockchain provided to federal departments including defense and home affairs, IBM’s Asia Pacific head, Harriet Green, said in an interview with Bloomberg TV on Thursday. The “youth of the technology” and the employment of Australians to support and help the implementation would be hallmarks of the new partnership, she said…
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Developers can easily absorb tax under new rules, analysts say
- Home prices in Hong Kong have more than doubled in past decade
Hong Kong’s plan to tax unsold new apartments may have little effect on the city’s red-hot housing market.
The levy was announced Friday by Chief Executive Carrie Lam as part of a broader effort aimed at boosting supply in the world’s least affordable property market. Yet analysts from Goldman Sachs Group Inc., Morgan Stanley and JPMorgan Chase & Co. say the latest impost won’t dent soaring prices…
Luxury Colorado Horse Ranch Asks $25 Million
By · CommentsThe 150-acre equestrian property in an affluent Snowmass neighborhood comes with a Ralph Lauren-inspired barn
A Colorado equestrian ranch with a Ralph Lauren-inspired horse barn is coming on the market for $25 million.
On 150 acres in Snowmass, the main house is roughly 6,657 square feet with five bedrooms. Seller Lee Williams and her husband Craig bought the home for $5.754 million in 2012 and stripped out the interiors. The couple redid the property with custom log and iron work, she said.
Luxury Colorado Horse Ranch Asks $25 Million
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Teraco increases debt facilities to 1.8 billion rand from ABSA
- Cash will help boost capacity of Johannesburgh data center
Teraco Data Environments Pty Ltd. plans to invest about 1 billion rand ($73 million) as Africa’s largest data-center operator expands infrastructure to meet rising demand.
The closely-held business will have spent 4.5 billion rand on building data-services centers in South Africa when the current investment cycle ends in 2019, Chief Financial Officer Jan Hnizdo said in an interview Tuesday. Funding has come from a debt facility provided by Barclays Africa Group Ltd., also known as Absa, which is lending as much as 1.8 billion rand…
The City of Light is an especially bright spot for retail real estate, with more luxury store openings than any other city in the world last year
One of the few bright spots in retail real estate these days is on the so-called “high streets” of major cities, where luxury brands are still willing to pay stratospheric rents to promote their designer clothes, accessories, shoes and other goods.
Nowhere is the luxury high street stronger today than in Paris…
For Luxury Retail Real Estate, Paris Retains Its Je Ne Sais Quoi
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Country’s stock market capitalization down $33b since election
- Good opportunity to get back into growth proxies: Nikko Asset
A $33 billion selloff in Malaysian stocks since Mahathir Mohamad’s election has got Nikko Asset Management on the hunt for bargains.
Some of the nation’s banks, consumer and healthcare shares have now fallen to attractive levels, according to Kenneth Tang, a fund manager at the $220 billion Japanese investor. Risks over rising interest rates and a global trade war have also been discounted by the recent selling, he added.
China Hedge Fund Says Stocks Are Near Bottom
By · Comments-
Fund is buying thermal power, electrical equipment firms
- Yuan may continue to fall but the slide to be modest: Wang
The rout in Chinese stocks may be nearing an end as the central bank turns to more accommodative monetary tools, according to Shanghai Chongyang Investment Management Co., whose flagship hedge fund has returned 356 percent since its launch in September 2008.
“While asset prices will face a ceiling given China’s tough regulation, risk prevention and deleveraging, a more flexible policy stance will put a floor under risk asset prices,” said President Wang Qing. “The market clearly is in its bottom range after earlier corrections.”…
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CNPC expands partnership to include graft-hit Comperj project
- Petrobras and CNPC are already partners at offshore fields
China National Petroleum Corp plans to help complete a refinery in Rio de Janeiro that already cost Brazil’s state-controlled oil company Petrobras $14 billion before it was halted amid a widespread graft investigation.
CNPC, as the Chinese producer is known, signed a letter of intent adding the Comperj refinery to a partnership the two companies signed last year. The agreement also includes evaluating investments in some of Brazil’s largest legacy fields at the offshore Marlim cluster…
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The military government is aiming to start two portfolios
- One is due for launch in September and the other in 2019
Thailand intends to set up a second infrastructure fund worth as much as 50 billion baht ($1.5 billion) in early 2019, following the launch of the long-delayed Thailand Future Fund this September to finance road building.
The fund due this year, expected to have assets of about 45 billion baht, is likely to attract strong demand from the public given it offers potential annual returns of about 5 percent, Prapas Kong-led, director general of the State Enterprise Policy Office, said in an interview…
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GSIS “has no appetite” to invest, President Aranas says
- Philippine benchmark has lost more than $53 billion in value
The Philippines’ largest pension fund is holding off on buying local shares after the selloff in emerging-market assets pushed the nation’s equities into a bear market last month.
The Government Service Insurance System “has no appetite” to invest, President Jesus Clint Aranas said in a forum in Manila. “And I think that is the common consensus among equity investors.”…
Top Philippine Fund Loses Appetite for Manila Stocks After Rout
India’s wealth managers had a bumper year in 2017, with the 20 largest firms growing assets under management by 63 percent to $169 billion, according to a report by Asian Private Banker.
The wealth unit of Kotak Mahindra Bank Ltd. retained the top slot, nearly doubling assets to $30 billion in 2017 and extending its lead over runner-up IIFL Wealth Management Ltd. to almost $12 billion, the publication said…
Kotak Retains Top Slot in Bumper Year for India Wealth Firms