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☆ Citadel celebrates banner year at Disney as Wall Street nurses losses
▼ + stars: | 2022-12-06 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +4 min

NEW YORK, Dec 6 (Reuters) - For much of Wall Street, trading this year has been like riding a wild roller coaster. For thousands of employees of Citadel and Citadel Securities, the hedge fund and trading business founded by Ken Griffin, last weekend was spent riding the real things. This year is shaping up to be a record for Citadel and Citadel Securities, Ahmed confirmed. Across Wall Street, firms are preparing for leaner times by cutting jobs and bonuses, while many Americans are struggling with rising prices for food, gasoline and rents. After the 2008 financial crisis, Wall Street firms that were criticized for their excesses have sometimes shied away from lavish gatherings or held them in private.

☆ Citadel celebrates banner year at Disney while Wall Street nurses losses
▼ + stars: | 2022-12-06 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +4 min

NEW YORK, Dec 6 (Reuters) - For much of Wall Street, trading this year has been akin to riding a wild roller coaster. This year is shaping up to be a record for Citadel and Citadel Securities, the spokesman confirmed. The Citadel Global Fixed Income Fund is up 28.1% for the year, while Citadel Tactical Trading is up 22.4% and Citadel Equities Fund is up 17.8%, an investor said. Across Wall Street, firms are preparing for leaner times by cutting jobs and bonuses. After the 2008 financial crisis, Wall Street firms that were criticized for their excesses have sometimes shied away from lavish gatherings or held them in private.

☆ Ken Griffin’s hedge fund Citadel rises again in November, bringing 2022 gains to 32%
▼ + stars: | 2022-12-06 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Billionaire investor Ken Griffin's hedge fund climbed again last month, lifting its year-to-date gain to almost 32%, according to a person familiar with the returns. Citadel's multi-strategy flagship fund Wellington rallied 0.9% last month, bringing its 2022 performance to 31.8%, the person said. All five core strategies in the fund — commodities, fixed income and macro, equities, quant and credit — were positive year to date, the person said. Other than the flagship fund, Citadel's global fixed income fund, tactical trading fund and equities fund are all up by double digits this year, the person said. The wider stock market suffered a tumultuous meltdown this year with the S & P 500 falling into a bear market.

☆ U.S. equity funds register biggest weekly outflow in over five weeks
▼ + stars: | 2022-12-02 | by ( ) www.reuters.com time to read: +2 min

read moreAccording to data from Refinitiv Lipper, U.S. equity funds saw outflows of $17.37 billion, the biggest amount for a week since June 15. U.S. equity growth and value funds both witnessed outflows for a second straight week, with disposals amounting to $6.8 billion and $1.76 billion, respectively. Fund flows: US equity sector fundsData for U.S. bond funds showed investors withdrew $10.41 billion in a fourth straight week of net selling. U.S. investors sold taxable bond funds of $8.91 billion, marking a third straight week of outflow, while exiting $288 million out of municipal bond funds. Fund flows: US bond fundsMeanwhile, safer U.S. money market funds received $26.95 billion, the biggest amount in four weeks, and government bond fund attracted $738 million.

☆ These are the top ETFs to play changing market leadership in 2023, Bank of America says
▼ + stars: | 2022-12-02 | by ( Jesse Pound | ) www.cnbc.com time to read: +3 min

The pain for 'new' economy sectors has likely just begun," Woodard wrote. Another option is to shift away from large cap stocks in general with a small cap value fund like the Vanguard Small-Cap Value Index Fund (VBR) . "The past two decades of large cap growth outperformance have been an anomaly. "Annual dividend growth averaged 6.2% between 1970 and 1980 after an overvalued, concentrated market corrected sharply," Woodard wrote. Similarly, dividends grew by 6.2% on average between 2000 and 2007 while annual price returns averaged just 2.5%," Woodard wrote.

Nonetheless, they fueled investor concerns about the future of the REIT, which makes up about 17% of Blackstone's earnings. "People are taking profits at the value Blackstone says their REIT shares are at," said Snyder. As a result, the REIT allowed investors in November to redeem $1.3 billion, equivalent to approximately 43% of investors' repurchase requests. Some analysts said Blackstone's REIT runs the risk of getting caught in a spiral of selling assets to meet redemptions if it cannot regain the trust of its investors. On Blackstone's third-quarter earnings call in October, Gray blamed REIT redemptions on market volatility, which he said had driven away individual investors from active equity and fixed income funds.

☆ Matt Quinlan's high-dividend stock funds hold more than $20 billion in investor assets. The Franklin Templeton vet told us where he finds innovators that can deliver big returns.
▼ + stars: | 2022-11-17 | by ( Marley Jay | ) www.businessinsider.com time to read: +4 min

Historically, big dividend payments have been associated with just a couple of stock market sectors. Franklin Templeton fund manager Matt Quinlan says that's changed in recent years. But inflation and interest rates were extremely low during that period, and it seemed like the growth and spending could go on forever. In a market like today's that's defined by higher interest rates and inflation, which erode returns over time, a solid dividend yield can give buyers a real leg up. He's also run its $24.3 billion Rising Dividends Fund for three years, and its results have been particularly strong across his tenure.

☆ Pimco's co-head of special situations Harin de Silva has taken a personal leave
▼ + stars: | 2022-11-16 | by ( Danielle Walker | ) www.businessinsider.com time to read: +2 min

Harin de Silva is on the small investment committee for Pimco's Private income Fund, which includes Group CIO Dan Ivascyn. Core Strategies, also recently took a personal leave of absence from the firm. Pimco's co-head of special situations, Harin de Silva, has taken a personal leave of absence from the firm, a company spokesperson confirmed Wednesday. De Silva is co-head of special situations with executive vice president Kristofer Kraus, who is a portfolio manager on the speciality finance team. During de Silva's leave, Pimco has placed portfolio manager Kristofer Kraus, who is on the speciality finance team, on the PIF investment committee.

☆ These mutual funds are planning to hit investors with capital gains distributions. How to decide the right move for you
▼ + stars: | 2022-11-11 | by ( Michelle Fox | ) www.cnbc.com time to read: +6 min

There may be some pain ahead for mutual fund investors in the form of capital gains taxes. "That means funds that have suffered steep falls this year could still distribute capital gains to investors," Welch said. John Hancock will pay double-digit capital gains distributions on several of its funds. Almost a dozen Nuveen funds will make 5% to 10% capital gains distributions, while twice that number of T. Rowe price funds will pay out between 4% and 21%. Passively managed funds may have distributions but they tend to be smaller than actively managed funds, Benz pointed out.

☆ Despite the recent chaos, UK stockpickers are rubbing their hands: Here's what they're buying
▼ + stars: | 2022-11-10 | by ( Elliot Smith | ) www.cnbc.com time to read: +6 min

The U.K. has been beset by political and economic instability in recent months, but as the investment environment undergoes a fundamental transition, investors see opportunity. These attractive valuations for U.K. stocks were also identified in a note last week by BlackRock Fundamental Equities. "Not only has the U.K. discount widened to a level not seen since 2008, but companies are buying back record amounts of their own shares. This compares to the current yield on UK 10-year gilts of around 4%." GAM holds around 50% of its U.K. equity income portfolio in small and midcap stocks, with a focus on companies with strong competitive moats.

☆ Stability in a volatile market? Inside an S&P 500 ETF delivering double-digit percentage dividends
▼ + stars: | 2022-11-05 | by ( Noah Sheidlower | ) www.cnbc.com time to read: +2 min

Investors may want to consider JPMorgan's Equity Premium Income Fund ETF in order to get more reliable gains in the current volatile market environment. According to the firm, the ETF uses S&P 500 options and proprietary data to generate monthly income for investors. The goal is to provide investors with income even when market uncertainty is high. The JPMorgan Equity Premium Income Fund ETF is outperforming the S&P 500 year to date. The ETF is down almost 15% while the S&P is off about 21%.

☆ Bond ETFs are hitting the market at a historic pace in 2022 as investors hunt for income
▼ + stars: | 2022-11-03 | by ( Jesse Pound | ) www.cnbc.com time to read: +4 min

The spate of new launches comes as cash floods into fixed income products. "On one hand, it helps explain the dual-edged pain for 60/40 portfolios this year, but the -17% decline now has bond ETFs offering realistic yields as an equity alternative. This helps explain the continued surge to Treasury ETFs, which again led our category workbook with +$12 Bn [last week] and over +$110 Bn YTD," Sohn added. Holly Framsted, the director of ETFs at Capital Group, said the firm is not trying to time the market with its launches but does believe there is an underserved demand for actively managed bond ETFs. Capital Group launched three more fixed income ETFs, including funds focused on municipal bonds and short duration bonds, last week.

☆ Billionaire Ken Griffin's Citadel is surpassing other multi-strategy hedge funds with double-digit returns this year. Here's how these funds did in October.
▼ + stars: | 2022-11-03 | by ( Alyson Velati | ) www.businessinsider.com time to read: +2 min

Performance at rivals like Millennium, DE Shaw, and Balyasny fell behind. Billionaire Ken Griffin's Citadel outpaced its rivals with a 1.52% gain in October, increasing the year-to-date performance to 30.7% and topping returns at rivals like Millennium, DE Shaw, and Balyasny, according to investor figures seen by Insider. Citadel Equities was up 0.6% in October, bringing year-to-date performance to 17.4%. DE Shaw saw a 1.6% jump through the month ending October and was up 22.6% year-to-date. ExodusPoint slightly jumped 0.5% in October and was up 4.5% year-to-date, according to a source familiar with the firm's performance.

☆ Asia bond funds dump China in favour of cash after high-yield rout
▼ + stars: | 2022-10-31 | by ( Summer Zhen | ) www.reuters.com time to read: +4 min

Many holders of China high yield bonds have seen them trading below 20 cents on the dollar. The in-default bonds of property company Sunac China (1918.HK) maturing in 2025 trade at 6 cents to a dollar. The average return of the top 10 Asia high yield bonds is down more than 30% this year, Morningstar data shows, of which Fidelity Funds' Asian High Yield Fund and UBS's SICAV - Asian High Yield (USD) had shed more than 40% as of Oct. 27. Value Partners’ Greater China High Yield Income Fund was down 37% as of the end of September. While there are select bonds that have upside, China high yield as an asset class is currently “uninvestable", she said.

☆ The co-manager of Vanguard's $48 billion income fund has beaten 88% of competitors this year by finding winning dividend stocks using this simple strategy
▼ + stars: | 2022-10-29 | by ( James Faris | ) www.businessinsider.com time to read: +5 min

Vanguard's Sharon Hill has overseen a fantastic performance for her $48 billion income-focused fund. She targets stocks with promising dividend growth, valuations, fundamentals, and sentiment. This market environment may be choppy, but her view is that investing in the right stocks with proven dividend growth is better than letting idle money erode under high inflation. "Dividend growth is one of the few things that has kept up with inflation as you go back and look over the decades," Hill said. "So when you go back and you look at the '70s, '80s — which is the last time you can actually find any notable inflation — what you see is dividend growth pretty much kept pace with it."

☆ The markets are returning to the 'old normal' of higher bond yields — what it means for investors
▼ + stars: | 2022-10-22 | by ( Michael Santoli | ) www.cnbc.com time to read: +9 min

Yet the effects from this point of a return to the "old normal" of higher bond yields and positive real (inflation-adjusted) yields, aren't clearly linear nor entirely negative. The 10-year Treasury yield on those dates: 4.24% now, 3.69% Sept. 22 and 3.07% on June 30. Yet as stock valuations fall and bond yields rise, risk to a long-term buyer is declining and expected future returns climbs. It's common to hear market handicappers discuss higher yields compressing overall equity valuations as if it's a law of physics. Maybe the difference in these regimes has something to do with the absolute level of bond yields and whether deflation or inflation was the main adversary?

☆ Here's how to spot high-quality dividend stocks and manage risk in an unprecedented bear market, according to a 33-year investing veteran who runs a $16 billion fund
▼ + stars: | 2022-10-22 | by ( James Faris | ) www.businessinsider.com time to read: +6 min

John Linehan of T. Rowe Price shared how he manages over $16 billion in assets. John Linehan, the chief investment officer for equities at T. Rowe Price, has encountered plenty of different investing landscapes in his 33-year career. Linehan, who manages over $16 billion in assets in the T. Rowe Price Equity Income Fund (PRFDX), is currently attempting to thread the needle between playing offense and defense. High, reliable dividend yields are vital to the T. Rowe Price Equity Income Fund, Linehan said, but the size of the quarterly payment is far from his only consideration on that front. "We're looking for companies that have both an attractive yield but also attractive attributes beyond the yield," Linehan said.

☆ Australia's Link Administration plans to divest UK-based Link Fund Solutions
▼ + stars: | 2022-10-19 | by ( ) www.reuters.com time to read: +1 min

Oct 20 (Reuters) - Link Administration Holdings Ltd (LNK.AX) said on Thursday it will explore options to divest its Link Fund Solutions business, months after Britain's financial regulator said it may fine the unit in a probe relating to a now-defunct fund. Link Administration's proposed A$2.47 billion ($1.55 billion) deal to be acquired by Canada's Dye & Durham (D&D) (DND.TO) fell through a month ago, after a local court denied approval, citing failure to meet key conditions. Register now for FREE unlimited access to Reuters.com RegisterThe unit is also being sued in the UK for up to 100 million pounds by claims management firm RGL. read moreThe FCA did not immediately respond to a request for comment on the potential divestment of the Link unit. Link Administration is currently is talks with D&D in relation to a revised bid, which could see the share registry firm sell its corporate markets and banking segment for A$1.27 billion.

RGL is also suing Link Fund Solutions (LFS), the fund's authorised corporate director, and said its claim could top 100 million pounds ($112 million). Hargreaves declined to comment and LFS did not immediately respond to a request for comment over the weekend. But it said last month it could fine LFS 50 million pounds and order a 306 million pound redress scheme over its management of the fund. Law firms Leigh Day and Harcus Parker have each already filed claims against LFS on behalf of around 13,000 and 7,000 investors respectively. They have expressed hope that they would be appointed joint claims managers at a December court hearing.

☆ Here's the outlook for corporate financial results as the worsening global economy is poised to lift the US dollar higher
▼ + stars: | 2022-10-12 | by ( Jason Ma | ) www.businessinsider.com time to read: +6 min

Good morning, this is Jason Ma and today's edition highlights the outlook for corporate financial results as the US dollar rises. Here's what a strong dollar means for stocks as earnings season heats up. If the reading tops 8.3%, then expect the stock market to sell off by 5%, the bank's trading desk said. But readings below 8.1% could spark some big gains for the stock market. How has the strong dollar affected your portfolio?

☆ As the 3rd-quarter reporting season begins, markets are bracing for signs of a recession that could send stocks into a deeper bear market
▼ + stars: | 2022-10-11 | by ( Jason Ma | ) www.businessinsider.com time to read: +6 min

The Fed's aggressive tightening is setting off more warnings about a recession and fallout for the stock market. Ahead of JPMorgan's quarterly report, CEO Jamie Dimon said the economy is on the verge of a recession, and the stock market could fall another 20%. But most importantly, it's Russia's war against Ukraine that is most unsettling to markets and poses a great risk. Meanwhile, billionaire hedge fund manager Paul Tudor Jones said a "recession playbook" could see stocks fall 10% further. PayPal stock fell after a botched roll-out of an acceptable use policy update that included big fines for the promotion of misinformation.

☆ The lead portfolio manager of a $36 billion fund shares the investing process that's helped him outperform 94% of competitors in the past 15 years
▼ + stars: | 2022-10-10 | by ( James Faris | ) www.businessinsider.com time to read: +4 min

The Columbia Dividend Income Fund has topped 94% of competing funds in the past 15 years. Focus on dividend stocks with two specific qualities instead of prioritizing high yields, he said. Mike Barclay is a lead portfolio manager of the $36 billion Columbia Dividend Income Fund (GSFTX), a fund that has beaten 94% of peers in the past 15 years, according to Morningstar. How to profit from dividend investingThe philosophy behind Columbia Threadneedle Investments' high-performing dividend fund has been in place since 2004, Barclay said. Columbia Threadneedle InvestmentsBesides free cash flow, Barclay said he prioritizes firms with robust balance sheets as a way to manage risk.

☆ Analysis: Goodbye, TINA: higher yields muddy outlook for struggling U.S. stocks
▼ + stars: | 2022-09-29 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +4 min

NEW YORK, Sept 29 (Reuters) - Soaring interest rates are providing investors with attractive alternatives to stocks, complicating the picture for equities in an already-vicious year. Register now for FREE unlimited access to Reuters.com RegisterThat calculus has drastically changed as the Fed hikes interest rates to stave off the worst inflation in decades, bolstering yields on everything from Treasuries to money markets. Money market funds took in $30 billion in the latest week, according to Refinitiv Lipper, while equity funds, taxable fixed income funds, and tax-exempt bond funds all had net redemptions. "We are definitely getting a resizing of that now.”Reuters GraphicsOf course, the alternatives to stocks are far from risk free. Still, the robust yields are likely to continue presenting a challenge to stocks, investors said.

☆ Market rout has muni bonds looking attractive. How to add them to your portfolio
▼ + stars: | 2022-09-25 | by ( Michelle Fox | ) www.cnbc.com time to read: +7 min

"Uncertainty around how high interest rates will go has driven redemptions in muni bond funds," he explained. Whenever we have a chance to add to muni bonds now, we do so." For instance, you can go to Fidelity Investments' website and access more than 50,000 municipal bonds as new issues or through dealers on the secondary market. Here are five Morningstar five-star rated muni bond funds. "Many closed-end bond funds are trading at prices that are below their net asset value," he said.

☆ As Treasury yields spike, short-duration ETFs are beating the market and raking in cash
▼ + stars: | 2022-09-18 | by ( Jesse Pound | ) www.cnbc.com time to read: +4 min

The JPMorgan Ultra-Short Income ETF ha s pulled in more than $3.5 billion of new money this year. AllianceBernstein launched its first ETFs last Wednesday, including the AB Ultra Short Income ETF , a fund that invests in debt with less than one year to maturity. An inverted yield curve refers to short-term yields that are higher than longer-dated yields. The combination of quickly rising interest rates and an inverted yield curve creates a couple of benefits for short-duration funds. AllianceBernstein's municipal ETF has a management fee of 0.27%, while the fee on the ultra short income fund stands at 0.25%.

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