In today's Breakfast with Benjamin: Two big investment houses recommend exiting emerging markets. Also: Credit Suisse offloads risky assets, investment gurus get nervous about 2014, cold weather and a weak economy, and what will cost more this year.
As more retail alternative investments hit the market, financial advisers are doing more due diligence and seeking out firms that provide the most transparency and have solid performance.
Goldman Sachs Asset Management is giving its fixed-income alternatives fund lineup a boost by converting its nontraded Credit Strategies Fund into a new liquid-alternatives-bond fund. Goldman plans to fold the $448 million fund, which offers only limited, quarterly share repurchases, into the yet-to-be launched open-end Goldman Sachs Long Short Credit Strategies Fund, pending shareholder approval, according to a filing with the Securities and Exchange Commission.
Live from the <i>IN</i> Alternatives Conference: 'But 20% will start to make a difference,' she says
The demand for liquid alternatives has never been higher, and it is drawing in a pack of money managers who are all vying to be leaders of the pack.
The search for new portfolio ballast
The Miller Income Opportunity Trust, to be run by the famed Legg Mason money manager and his son, seeks high income from a “wide array of sources” by identifying “mispriced” investment opportunities.
Investors in the company run by the billionaire have to rely on his homey annual shareholder letter and Q&A at the annual meeting for info on its disparate holdings because the company, which is set to post record full-year profit next week, has become more opaque during his five-decade-long acquisition spree. Still, they've done OK.
Today: How Pimco misread the Fed's tapering plan, plus: Gold starts to shine, the dollar rallies and ETFs are on track to overtake hedge funds. Also: Oops, Obamacare forgot to include an option for adding babies to insurance.
Investors are dumping gold-backed exchange-traded products at the fastest pace since the securities were created a decade ago, mirroring the steepest price drop in 32 years.
Pimco's co-CIO says central banks pushing investors to riskier assets but that policy has limits.
Domestic equities have been the place to be since the financial crisis ended almost five years ago, but with head winds starting to mount in the U.S., investors may be better off on the other side of the Atlantic, says Chris Alderson, president of T. Rowe Price International.
Neuberger is cautious for the near term but says sector could shine down the road
Private-equity firms marketing retail-oriented funds that don't require decade-long lockup
The SEC has charged a fund firm with misleading shareholders about adviser fees. The action is the latest in the commission's crackdown on mutual fund boards and their fee arrangements.
Portfolio manager who helped feds must pay $390K, will do no prison time.
Exchange-traded and mutual funds investing in stocks took in about $162 billion this year, the most since 2000, as the S&P 500 surged 29%.
Investors placing bets on whether central bank will boost tapering.
