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REUTERS/Jim Bourg/File Photo Acquire Licensing RightsNEW YORK, Sept 29 (Reuters) - The U.S. securities regulator on Friday said it had fined 12 companies, including brokers, investment advisers and credit rating firms, for record keeping failures. The Securities and Exchange Commission (SEC) said the companies, including Interactive Brokers Corp, Fifth Third Securities and Nuveen Securities, agreed to pay a total of $79 million and admitted they violated the record keeping rules. Credit rating agencies DBRS Inc. and Kroll Bond Rating Agency, LLC also agreed to pay civil penalties to settle SEC charges related to the record-keeping failures, the regulator added. Employees at both firms failed to preserve electronic communications, including off-channel messages on personal and work-issued devices, the SEC said. To settle the charges, DBRS agreed to pay $8 million in civil penalties and KBRA agreed to pay $4 million in civil penalties, the SEC said.

Persons: Jim Bourg, Kroll, DBRS, KBRA, Chris Prentice, Carolina, Barbara Lewis Organizations: U.S . Securities, Exchange Commission, SEC, REUTERS, Securities, Interactive Brokers Corp, Fifth Third Securities, Nuveen Securities, Reuters, Wall, DBRS Inc, Kroll Bond Rating Agency, Employees, Thomson Locations: Washington, U.S

☆ Investors riddled with FOMO might be re-entering the US stock market
▼ + stars: | 2023-09-21 | by ( Krystal Hur | ) edition.cnn.com time to read: +5 min

CNN —Investors who missed out on this year’s unexpected rally seem to be dipping their toes back into the US stock market. That suggests that investors who watched equities steadily climb higher this year are starting to take their cash off the sidelines and put it into the stock market, some investors say. That’s caused some investors to come down with a classic case of fear-of-missing-out, says Saira Malik, chief investment officer at Nuveen. The data-dependent central bank held rates steady on Wednesday and signaled that it could hike rates once more this year. Still, bond yields rose to their highest level since 2007 this week, as investors bet that the central bank will keep rates higher for longer.

Persons: Saira Malik, Malik, I’ll, ”, Alex McGrath, Samantha Kelly, she’s, Sam, Read, Elon, Jennifer Korn Organizations: CNN Business, Bell, CNN — Investors, Global, Bank of America, Federal Reserve, Tech, Nvidia, Apple, Microsoft, Traders, Apple Watch, smartwatches

The benchmark 10-year Treasury yield hit 4.399% overnight in Asia, its highest rate since early November 2007, and the two-year yield rose further above 5%. MSCI's gauge of stocks across the globe (.MIWD00000PUS) shed 0.27%, while the pan-European STOXX 600 index (.STOXX) lost 1.05%, hit by lowered growth outlooks. CENTRAL BANKSGlobal central banks take stage, with five of those overseeing the 10 most-heavily traded currencies holding rate-setting meetings this week. A swathe of emerging market central banks including Turkey and South Africa will also meet. The Swedish crown sank to a record low against the euro on Monday, days before the Riksbank is expected to raise interest rates again.

Persons: Brendan McDermid, BOE, Brent, Marc Chandler, Chandler, Saira Malik, France's, Stocks, Xi, Kazuo Ueda, Herbert Lash, Nell Mackenzie, Dhara, Stella Qiu, Philippa Fletcher, Alexander Smith, Christina Fincher Organizations: New York Stock Exchange, REUTERS, Treasury, Global, Federal, United Auto Workers, Detroit Three, Bannockburn Global, U.S, Societe Generale, Dow Jones, Nasdaq, China Evergrande, HK, CENTRAL, Bank of England, Bank of Japan, European Central Bank, Thomson Locations: New York City, U.S, China, Bannockburn, New York, Asia, Turkey, South Africa, Swedish, London, Sydney

☆ Inflation is expected to slow because of these trends
▼ + stars: | 2023-09-17 | by ( Bryan Mena | ) edition.cnn.com time to read: +6 min

Washington, DC CNN —US inflation has slowed steadily from its four-decade peak last June, and it’s expected to cool further thanks to easing car prices and rents. Despite the expected inflation drop, she said investors anticipate the Fed will keep interest rates steady and not cut them anytime soon. “It may take a little bit longer than expected for inflation to come down to 2%, and inflation being in a 2-3% range next year is reasonable,” she said. Tuesday: Canada’s statistics agency releases August inflation data. The UK’s Office for National Statistics releases August inflation data.

Persons: we’re, ” José Torres, “, ”, Sarah House, Saira Malik, Michelle Toh, ” Read, General Mills, Christine Lagarde Organizations: CNN Business, Bell, DC CNN, Interactive Brokers, CNN, “, ”, United Auto Workers, CPI, San, San Francisco Fed, National Association of Home Builders, US Commerce Department, Japan’s Ministry of Finance, FedEx, General, National Statistics, Federal Reserve, Darden Restaurants, The Bank of England, US Labor Department, National Association of Realtors, The Bank of Japan, European Central Bank, Global Locations: Washington, Wells Fargo, San Francisco, China, Michelle Toh ., Japan’s

☆ Auto and credit delinquencies are 'signs of cracks for the economy', says Nuveen CIO Saira Malik
▼ + stars: | 2023-09-12 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAuto and credit delinquencies are 'signs of cracks for the economy', says Nuveen CIO Saira MalikSaira Malik, Nuveen chief investment officer, joins 'Closing Bell Overtime' to talk the state of the U.S. economy, recent market action, tech investing and more.

Persons: Saira Malik Saira Malik Locations: U.S

☆ Don Dimitrievich of Nuveen discusses the transition to green energy
▼ + stars: | 2023-09-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDon Dimitrievich of Nuveen discusses the transition to green energyDon Dimitrievich, Senior Managing Director and Portfolio Manager for Energy Infrastructure Credit at Nuveen, outlines the business outlook and LNG demand in the APAC region.

Persons: Don Dimitrievich, Nuveen Organizations: Energy Infrastructure Locations: Nuveen, APAC

An electronic board shows Shanghai and Shenzhen stock indexes, at the Lujiazui financial district in Shanghai, China October 25, 2022. "It's pretty weak," said Sat Duhra, a portfolio manager at Janus Henderson who devises a macro score for countries by tracking seven factors including PMI surveys, real exchange rates, current accounts, growth estimates and liquidity. Even in Japan, the stock market success story of the year so far, portfolio manager Zuhair Khan at UBP Investments says he's shorting or avoiding companies reliant on China sales. However, I think more importantly, it has fallen short of initial expectations," said Jagdeep Ghuman, a portfolio manager for U.S. asset manager Nuveen. Reporting by Tom Westbrook and Rae Wee in Singapore, Dhara Ranasinghe in London and Summer Zhen and Xie Yu in Hong Kong.

Persons: Aly, Janus Henderson, Seema Shah, Zuhair Khan, Prashant Bhayani, it's, Jagdeep Ghuman, Nuveen, Tom Westbrook, Rae Wee, Dhara, Zhen, Xie Yu, Sam Holmes Organizations: REUTERS, Rights, BHP, PMI, Global Investors, UBP Investments, Vegas Sands, Wealth Management, U.S, Thomson Locations: Shanghai, Shenzhen, China, Rights SINGAPORE, London, Bangkok, Zealand, Europe, Thailand, Asia, Japan, Singapore, Hong Kong

☆ Goldman sees 'significant investment potential' in green bonds. Here's how to invest in them
▼ + stars: | 2023-08-28 | by ( Michelle Fox | ) www.cnbc.com time to read: +5 min

Investors searching for yield and a way to make a positive impact on the environment may want to consider green bonds. BGRN 1Y mountain iShares USD Green Bond ETF 1-year performance Green bonds are considered part of the growing asset class known as GSS+: green, social, sustainability, sustainability-linked and transition bonds, according to Morningstar. What sets green bonds apart Green bonds tend to have longer durations than their general counterparts. The firm's parent company, TIAA, invests in green bonds through its TIAA-CREF Green Bond Fund (TGROX) . "The U.S. plays an important role in the green bond market, without any doubt.

Persons: Kay Haigh, Management's, Green, Morningstar, they've, Shannon Kirwin, Bram Bos, Stephen Liberatore, Liberatore, It's, Goldman's Bos, Bos Organizations: Green Bond, Goldman, Morningstar, Goldman Sachs Asset Management, Green Bond Fund, Federal, Treasury Locations: Goldman Sachs, Nuveen, U.S, Europe

Stocks - which have wobbled in August as rising bond yields threatened to dull the allure of equities - were little changed with the S&P 500 up 0.22%. REVIVING RECESSION WORRIESSome investors were worried that higher rates could weigh on growth and increase the chances of a recession next year. Such a scenario, in theory, would force the Fed to cut rates, pulling bond yields lower. But while risks remained that long-term bond yields could move higher, he was looking to extend the duration of his portfolio. Reporting by Davide Barbuscia and David Randall; Editing by Ira Iosebashvili and Andrea RicciOur Standards: The Thomson Reuters Trust Principles.

Persons: Jerome Powell, John Williams, Ann Saphir, Powell, ”, Cindy Beaulieu, Jackson, “ Powell, Anders Persson, Mike Sewell, Rowe Price, Josh Emanuel, Davide Barbuscia, David Randall, Ira Iosebashvili, Andrea Ricci Organizations: New York Fed, Kansas, Fed, REUTERS, Kansas City, Financial, Treasury, Investors, Futures, Thomson Locations: Jackson Hole , Wyoming, U.S

☆ Dollar hovers near two-month high, yen near 146/dlr
▼ + stars: | 2023-08-23 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

Banknotes of Japanese yen and U.S. dollar are seen in this illustration picture taken September 23, 2022. The dollar index , which measures the U.S. currency against six rivals, was at 103.55, not far from the two-month high of 103.71 it touched on Tuesday. The index is up 1.6% in August and is on course to snap its two-month losing streak. The Australian dollar rose 0.40% to $0.645, while the New Zealand dollar rose 0.29% to $0.596. In cryptocurrencies, bitcoin last rose 0.77% to $26,049, having touched two-month low of $25,350 overnight.

Persons: Florence Lo, Christopher Wong, Jerome Powell's, Wong, Thomas Barkin, Saira Malik, Atsushi Takeuchi, Fumio, Takeuchi, bitcoin, Ankur Banerjee, Christopher Cushing Organizations: U.S, REUTERS, Rights, Federal Reserve, Richmond Fed, Nuveen, Bank of, New Zealand, Thomson Locations: , Wyoming, OCBC, Singapore, U.S, tenterhooks, Tokyo, Japan

☆ Dollar hovers near two-month high, yen near 146 per dollar
▼ + stars: | 2023-08-23 | by ( ) www.cnbc.com time to read: +3 min

Photo taken on April 20, 2022 shows the Japanese yen and U.S. dollar banknotes in Tokyo, Japan. Photo taken on April 20, 2022 shows the Japanese yen and U.S. dollar banknotes in Tokyo, Japan. The U.S. dollar perched near a two-month peak on Wednesday as investors looked to the Federal Reserve chair's speech this week for cues on the path of monetary policy, while the yen loitered near 146 a dollar, keeping traders guessing on any intervention. The dollar index , which measures the U.S. currency against six rivals, was at 103.55, not far from the two-month high of 103.71 it touched on Tuesday. In cryptocurrencies, bitcoin last rose 0.77% to $26,049, having touched two-month low of $25,350 overnight.

Persons: Christopher Wong, Jerome Powell's, Wong, Thomas Barkin, Saira Malik, Atsushi Takeuchi, Fumio, Takeuchi, bitcoin Organizations: U.S, The U.S, Federal Reserve, Richmond Fed, Nuveen, Bank of, New Zealand Locations: Tokyo, Japan, The, , Wyoming, OCBC, Singapore, U.S, tenterhooks

☆ July jobs report shows we have a supply issue, says Cato Institute's Tyler Goodspeed
▼ + stars: | 2023-08-04 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJuly jobs report shows we have a supply issue, says Cato Institute's Tyler GoodspeedTyler Goodspeed, former acting CEA chair and Cato Institute adjunct scholar, Jennifer Harris, former national economic council official, and Saira Malik, Nuveen CIO, join 'Squawk Box' along with CNBC's Steve Liesman and Rick Santelli to react to the July jobs report, where the U.S. economy added 187,000 jobs in July, fewer than expected, what it means for the Fed's inflation fight, and more.

Persons: Cato Institute's Tyler Goodspeed Tyler Goodspeed, Jennifer Harris, Saira Malik, Steve Liesman, Rick Santelli Organizations: CIO

☆ Asia stocks gain; US futures slip after Netflix, Tesla earnings
▼ + stars: | 2023-07-20 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

SINGAPORE, July 20 (Reuters) - Asian stocks rose and sterling stumbled on Thursday as cooling UK inflation lifted risk appetite ahead of central bank meetings next week, while disappointing earnings results from Netflix and Tesla pushed U.S. futures lower. The Bank of England is due to meet in the first week of August but before that central bank meetings in Japan, Europe and the United States will likely grab investors' attention. Overnight, the Dow Jones Industrial Average and S&P 500 index rose modestly, with the blue-chip Dow registering its eighth straight day of gains. But futures fell in Asian trade, with E-mini futures for the S&P 500 0.15% lower and Nasdaq futures down 0.44%after earnings from streaming giant Netflix and EV maker Tesla. In commodities, Chicago wheat futures rose 1.4% to hit a three-week high on growing expectations that an attack on Ukrainian ports after Russia's withdrawal from a Black Sea export deal would have a longer-term impact on global supply.

Persons: Tesla, Hong, HSI, Sterling, Kazuo Ueda, Saira Malik, Malik, Elon Musk, TSMC, Brent, Ankur Banerjee, Sam Holmes Organizations: Netflix, Japan's Nikkei, Bank of England, Traders, European Central Bank, Bank of Japan, Federal, U.S, U.S . Federal, Dow Jones Industrial, Dow, Nasdaq, Tesla, Wall, Thomson Locations: SINGAPORE, Asia, Pacific, Japan, China, Shanghai, Europe, United States, U.S ., Singapore

☆ Asian shares rise, dollar dips as traders await US inflation data
▼ + stars: | 2023-07-12 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

The Japanese yen strengthened against most major currencies and last fetched 139.43 against the dollar, its highest in a month. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was 0.61% higher, while Australia's S&P/ASX 200 index (.AXJO) rose 0.54%. "However, if the core CPI decelerates as anticipated, investors may continue to keep the odds for September and November rate hikes low." China shares (.SSEC) eased 0.14%, while Hong Kong's Hang Seng Index (.HSI) rose 0.5% in early trading. The dollar index , which measures the U.S. currency against six peers, fell 0.197% at 101.40, having slid as low as 101.37, its lowest in two months.

Persons: Australia's, Hong, Rodrigo Catril, Wells, Saira Malik, Brent, Ankur Banerjee Organizations: Federal, Japan's Nikkei, Reuters, Saxo Markets, National Australia Bank, Investor, JPMorgan, Citigroup, New Zealand, Thomson Locations: SINGAPORE, Asia, Pacific, Japan, China, Wall, dealmaking

☆ Office landlords struggling for tenants are facing an even scarier predicament — zombie properties
▼ + stars: | 2023-07-03 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +6 min

A zombie building is one that's too costly for a landlord to rent at prevailing rates. Office buildings purchased in the past five years could become zombies, a real-estate vet said. Like many New York office buildings, it's a dead man walking, similar to the hopelessly distressed shopping malls that have multiplied across the country over the past decade. One in four office buildings in Manhattan is valued at less than they last sold for, according to JLL. Bringing zombies back to lifeUnlike in the movies, zombie buildings don't remain undead forever.

Persons: Knotel, Michael Cohen, Cohen, —, haven't, RXR, Chetrit, HPS Organizations: New York, Macmillan Publishers, Manhattan, BNP, Real Estate, Green —, Blackstone, Chetrit, HPS Investment Partners Locations: New, New York City, New York, Manhattan, That's, HPS

☆ Fixed-income equities tend to outperform when the Fed pauses, says Nuveen's Saira Malik
▼ + stars: | 2023-06-27 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFixed-income equities tend to outperform when the Fed pauses, says Nuveen's Saira MalikSaira Malik, Nuveen chief investment officer, joins 'The Exchange' to discuss delayed recession concerns, opportunity costs from keeping money in cash, and tailwinds of moderating inflation and AI fueling more upside in the markets.

Persons: Nuveen's Saira Malik Saira Malik

☆ There is value in commercial real estate 'you just need to know where to look': Nuveen's Carly Tripp
▼ + stars: | 2023-06-22 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThere is value in commercial real estate 'you just need to know where to look': Nuveen's Carly TrippCarly Tripp, Nuveen Real Estate Global CIO & head of investments, joins 'Closing Bell Overtime' to talk investing opportunities in real estate, commercial office buildings, and more.

Persons: Carly Tripp Carly Tripp Organizations: Global

☆ Municipal bonds can offer your portfolio tax-free income and stability as recession fears loom
▼ + stars: | 2023-06-21 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +4 min

"People see [municipal bonds] as a defensive position for two reasons," said Shannon Saccocia, chief investment officer at NB Private Wealth. "Historically, municipal bonds have had low default rates," wrote Jared Woodard, investment and exchange-traded fund strategist at Bank of America, in a June 12 report. For instance, there's the Vanguard California Intermediate-Term Tax-Exempt Fund Investor Shares (VCAIX) and the Nuveen New York Quality Municipal Income Fund (NAN) . In select situations, some advisors are recommending closed-end municipal bond funds. Closed-end muni bond funds trading at a deep discount include the BNY Mellon Municipal Income (DMF) and the MFS High Income Municipal (CXE) .

Persons: Shannon Saccocia, Jerome Powell, Jared Woodard, Nisha Patel, Patel, Paul Winter Organizations: Bank of America, Bond, Muni Bond ETF, Vanguard, Income Fund, Five, BNY, Income Locations: York, BNY Mellon

☆ Wall Street Week Ahead: Investors rethink recession plays, boosting U.S. stock market laggards
▼ + stars: | 2023-06-09 | by ( David Randall | ) www.reuters.com time to read: +5 min

"There's reason to believe that the pessimism we saw at the start of the year is giving way to a stronger-than-expected market." Murray has increased his allocation to small-cap stocks, which tend to be among the most direct beneficiaries of economic growth. Other rebounding segments in June include the S&P 500 energy sector, which has gained 6% this month and S&P 500 industrials, up 5.7%. Ten of the 11 S&P 500 sectors are firmer for the month to date, compared to only six for the year. Stronger-than-expected jobs growth and robust consumer spending have been among the data points that have bolstered investors' economic outlook.

Persons: Tim Murray, T Rowe Price's, Murray, Russell, Dow, Howard Silverblatt, Goldman Sachs, Saira Malik, Max Wasserman, David Randall, Saqib Iqbal Ahmed, Lewis Krauskopf, Ira Iosebashvili, Richard Chang Organizations: YORK, Energy, Reuters, Apple Inc, Microsoft Corp, Inc, Amazon.com Inc, Nvidia Corp, Tesla Inc, Dow Jones, Capital Economics, Miramar Capital, Starbucks Corp, Target Corp, Thomson Locations: U.S

☆ Wall St Week Ahead Debt ceiling deal may shift investor focus to further Fed action
▼ + stars: | 2023-05-26 | by ( David Randall | ) www.reuters.com time to read: +4 min

Megacap technology and growth stocks, which benefit from lower interest rates, have led the market's advance. A Congressional package raising the debt ceiling, meanwhile, is expected to cap spending on government programs. The debt ceiling impasse had weighed on stocks in recent days, but for the most part investors had been expecting Washington to reach a deal. At the same time, the equity market has only just begun to start pricing in more Fed hikes, she added. "The ongoing effects of monetary policy now are setting us up for this wall of debt that people aren't talking about with enough vigor," he said.

☆ These are the best ETFs to ride the A.I. trend
▼ + stars: | 2023-05-25 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

The ARK Autonomous Technology & Robotics ETF (ARKQ) , on the other hand, had Nvidia as its ninth-largest position, with its stake in Tesla four-times larger as of Wednesday's close. There will likely be more AI ETFs hitting the market in coming months to meet the trend. Some small new funds include the Roundhill Generative AI & Technology ETF (CHAT) , which launched last week, and the VanEck Robotics ETF (IBOT) , which launched in April. Other places to look Another tactic for investors could be to look for actively managed growth funds, which will be looking for ways to play the AI boom. To bet on AI without doubling down on megacap tech, investors could look for other thematic plays that could benefit from the new technology.

Persons: Jay Jacobs Organizations: Nvidia, Microsoft, Global, Robotics, Intelligence, Autonomous Technology & Robotics, Technology, VanEck Robotics, Blackrock, CNBC Locations: U.S

☆ Asian shares muted, US debt ceiling talks weigh on risk appetite
▼ + stars: | 2023-05-17 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

SINGAPORE, May 17 (Reuters) - Asian shares were subdued on Wednesday and the dollar hovered around a five-week peak as investors remained risk averse, with the U.S. debt ceiling talks and a mixed set of economic data weighing on sentiment. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was down 0.09% in choppy trading, with Australia's S&P/ASX 200 index (.AXJO) down 0.45%. Democratic President Joe Biden and top congressional Republican Kevin McCarthy edged closer to a deal to avoid a looming U.S. debt default Tuesday. After an hour of talks, McCarthy, the speaker of the House of Representatives, told reporters the two sides remained far apart on an agreement to lift the debt ceiling. Against a basket of currencies, the dollar rose 0.01% to 102.61, inching closer to the five-week high of 102.75 it touched on Monday.

☆ Asian shares tentative, US debt ceiling talks weigh on risk appetite
▼ + stars: | 2023-05-17 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

SINGAPORE, May 17 (Reuters) - Asian shares were subdued on Wednesday and the dollar hovered around a five-week peak as investors remained risk averse, with the U.S. debt ceiling talks and a mixed set of economic data weighing on sentiment. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was 0.20% lower, while Australia's S&P/ASX 200 index (.AXJO) was down 0.56%. U.S. stock indexes closed down overnight, hamstrung by dour forecast from Home Depot and April U.S. retail sales data that underscored softer consumer spending. "These actually came in on the lower end of expectations though the news was mixed, with a lower headline but higher core sales figures muddying the message." Recent economic data indicates slowing in the U.S. economy following a string of rate hikes by the Federal Reserve to fight high inflation.

☆ Arrowstreet, Coatue Management among big hedge funds buying Meta in first quarter
▼ + stars: | 2023-05-15 | by ( David Randall | ) www.reuters.com time to read: +1 min

NEW YORK, May 15 (Reuters) - Prominent hedge funds including Arrowstreet Capital LLC, D1 Capital Partners and Coatue Management LLC were among the investors that bought shares of Meta Platforms Inc in the first quarter of the year, amid an eye-popping rebound in the Facebook-parent’s stock. Arrowstreet Capital added about 5 million shares during the quarter, brining its total position to slightly more than 7 million shares, while Coatue more than doubled its position in the company by buying 4.2 million shares. Winslow Capital Management, meanwhile, initiated a new position in the firm by buying about 927,000 shares, and D1 Capital Partners bought slightly more than 1 million shares. Norges Bank, the central bank of Norway, was the largest seller among all firms, unloading more than 35 million shares during the quarter. Two Sigma Investments sold its entire stake of about 569,000 shares, while Glenview Capital Management, run by billionaire Larry Robbins, sold its entire stake of about 526,000 shares, according to filings.

☆ Nuveen Buys Giant New York City-Focused Affordable Housing Portfolio
▼ + stars: | 2023-05-09 | by ( Will Parker | ) www.wsj.com time to read: 1 min

New York City area properties include several large apartment buildings in the Bronx, Brooklyn and Queens. Photo: Gary Hershorn/Getty ImagesNuveen, the asset management arm of Teachers Insurance and Annuity Association of America, is acquiring a more than 12,000-unit affordable housing portfolio in one of the largest multifamily housing deals this year. The properties are largely concentrated in the New York City area, including several large apartment buildings in the Bronx, Brooklyn and Queens. Other buildings are located in Maryland, Massachusetts, Texas and other states, Nuveen said on Tuesday. The portfolio includes developable land and existing buildings in need of rehabilitation that could eventually produce an additional 8,000 low-income apartments, Nuveen said.

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