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Private equity can still find ‘diamonds in the rough’: Apollo exec

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FILE PHOTO: Joshua Harris, co-founder and a member of the board of directors at Apollo Global Management speaks during the Milken Institute Global Conference in Beverly Hills, California, U.S., May 1, 2017. REUTERS/Lucy Nicholson/File Photo NEW YORK (Reuters) – Private equity billionaire Joshua Harris thinks there are still plenty of undervalued companies to improve and Read More

Firm advertised huge returns. It won an award in Monaco. The SEC calls it a fraud

1 day ago DieselGasoil Comments Off on 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. The U.S. Securities and Exchange Commission calls Mediatrix a Ponzi-like fraud. Read More

Investor Netter pushes FSD to restructure or return cash

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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. Netter, whose Dolphin Limited Partnership I LP owns 450,000 shares of Read More

DoubleLine’s Gundlach says U.S. Fed will embark on ‘QE lite’ ‘pretty soon’

2 days ago DieselGasoil Comments Off on DoubleLine’s Gundlach says U.S. Fed will embark on ‘QE lite’ ‘pretty soon’
FILE PHOTO: Jeffrey Gundlach, CEO of DoubleLine Capital LP, presents during the 2019 Sohn Investment Conference in New York City, U.S., May 6, 2019. REUTERS/Brendan McDermid (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 Read More

Fund managers have not joined race into cheap, value stocks: BAML survey

3 days ago DieselGasoil Comments Off on 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. Bank of America Merrill Lynch’s latest monthly survey of global managers, which was carried out Read More

U.S. value fund managers betting shift to value stocks won’t last

3 days ago DieselGasoil Comments Off on 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. FILE PHOTO: Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., September 9, 2019. REUTERS/Brendan McDermid Read More

Prudential subsidiaries to pay nearly $33 million to settle disclosure charges: SEC

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WASHINGTON (Reuters) – Two Prudential subsidiaries have agreed to pay nearly $33 million to settle charges they failed to disclose conflicts of interest and made misleading disclosures regarding 94 insurance-dedicated mutual funds they advised, the U.S. securities regulator said on Monday. The Securities and Exchange Commission (SEC) said it had censured AST Investment Services Inc Read More

U.S. charges Prudential subsidiaries for allegedly misleading 94 mutual funds

3 days ago DieselGasoil Comments Off on U.S. charges Prudential subsidiaries for allegedly misleading 94 mutual funds
WASHINGTON (Reuters) – The top U.S. securities regulator on Monday said it had charged AST Investment Services Inc. and PGIM Investments LLC, subsidiaries of Prudential, for failing to disclose conflicts of interest and making misleading disclosure to the boards for 94 insurance-dedicated mutual funds. The Securities and Exchange Commission said that the subsidiaries self-reported their Read More

Morgan Stanley retains billing as top adviser in activist fights: Refinitiv data

3 days ago DieselGasoil Comments Off on Morgan Stanley retains billing as top adviser in activist fights: Refinitiv data
FILE PHOTO: A sign is displayed on the Morgan Stanley building in New York U.S., July 16, 2018. REUTERS/Lucas Jackson BOSTON (Reuters) – Morgan Stanley (MS.N) ranked as the top financial adviser in activist campaigns during the first six months of 2019 while Goldman Sachs (GS.N) and Spotlight Advisors each added clients and tied for Read More