European banks are showing a greater willingness to participate in direct lending after shying away from the market as they dealt with new regulations in the wake of the financial crisis, money managers say. Competition in private debt is especially intense in the area of senior-secured lending.
Hedge fund industry leaders expect to make greater use of artificial intelligence and other disruptive technologies and to focus more on responsible investing to meet investor demands in the future, according to a report from AIMA and Aberdeen Standard Investments. "This paper shows that the pace of change and innovation in the hedge fund industry is only going to increase," said AIMA CEO Jack Inglis.
Hedge funds made more hires in marketing and investor relations in the first quarter, as the Cboe Volatility Index reached its highest point since 2015, according to data from executive recruiter Context Jensen Partners. The Q1 hires totaled 81, more than twice the number from late 2017, the data show.
Investors are looking to keep their short positions below the 0.5% disclosure threshold set in EU short-selling regulations, the European Securities and Markets Authority says in a report. AIMA and the Managed Funds Association have encouraged the adoption of a centralized reporting mechanism for net-short positions.
The European Central Bank says it needs additional authority to protect EU member states in case of "exceptional situations" involving clearinghouses in the US and UK after Brexit. Among the powers sought are the ability to increase requirements for US and UK clearinghouses' liquidity buffers and more collateral gathered from clients.
The California Department of Insurance plans to admit at least two more insurers that plan to write policies for the marijuana industry. The move comes despite the fact that some insurers are exiting the business after a warning letter this year from Attorney General Jeff Sessions.
Senate Republicans, with support from President Donald Trump, are preparing to use the Congressional Review Act to repeal 2013 rules from the Consumer Financial Protection Bureau to discourage discrimination by auto lenders. Using the act on years-old rules, rather than recently adopted ones, raises concern decades of regulation might be at stake.
A mountainous destination may be just the ticket for retirees who love the outdoors. Kathleen Peddicord reviews three attractive but lesser-known mountain venues in Panama, Croatia and Colombia.
A decline in variable annuity sales in the fourth quarter of 2017 compared to the year-ago period was offset by a rise in non-variable annuity sales, with overall annuity sales up 0.3% year over year, according to the Insured Retirement Institute. "With the [Labor Department's] fiduciary rule now vacated by the 5th Circuit Court of Appeals, we expect sales to continue building on these increases in 2018 as transaction friction abates," said Cathy Weatherford, IRI's president and CEO.
Employers are responding to workers' growing interest in having steady retirement income by looking into including annuity options in their retirement plans, said Roberta Rafaloff, vice president of institutional income annuities at MetLife. She argues in-plan annuities will gain more traction as more safe-harbor rules are clarified and put place.
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