Wealth Management
Top stories summarized by our editors
1/19/2017

Hedge funds' assets shrank by $12.2 billion last year, according to a Eurekahedge report, but performance provided a 4.48% gain, compared with 1.78% in 2015. The report shows regional differences, noting asset contractions in Asia and Europe and 7.8% growth for North American hedge funds.

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hedge funds
1/19/2017

The Ohio Public Employee Retirement System will keep hedge funds in investment because they offer diversity and stability during volatility, despite a recent dip in returns. Not all members of the board are in accord with the decision, and states such as California and New York are decreasing hedge fund exposure.

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hedge funds
1/19/2017

Spot gold surpassed $1,200 per ounce Tuesday, the highest price in eight weeks, as investors sought safe havens after UK Prime Minister Theresa May signaled a "hard Brexit" and US President-elect Donald Trump said the dollar is too strong. Societe Generale says the rally has reached the threshold necessary for continuance, but not all observers share that view.

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Reuters, The Week
1/19/2017

Recent proposals from the Financial Stability Board likely would benefit asset managers, Moody's Investors Service says. The proposals, which call for greater regulatory vigilance on open-ended funds and for new reporting methods, would increase costs but create "a safer investment fund industry that continues to generate strong margins with less volatility," analysts say.

1/19/2017

Upcoming changes to EU derivatives rules are leading to concerns from pension funds, prompting the European Commission to seek a legislative solution.

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EU, European Commission
1/19/2017

President-elect Donald Trump has criticized how carried interest lets some fund managers reduce tax rates. Republican lawmakers might be reluctant to act on the issue, but economist Roberton Williams says carried interest is defined by IRS rules and can be changed by executive order.

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Bloomberg
1/19/2017

Kevin White of Deutsche Asset Management, which manages the RREEF Property Trust, predicts rents for commercial property sector will rise because of relatively low supply, but President-elect Donald Trump's infrastructure plans could increase construction starts.

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Forbes
1/19/2017

Hartman Short Term Income Properties XX has approved a new estimated net asset value of $13.15 per share. The publicly registered non-traded real estate investment trust's previous estimated net asset value was $12.40 per share.

1/19/2017

Andover Data Center II has been acquired by Carter Validus Mission Critical REIT II for $37 million. The publicly registered non-traded REIT's acquisition is a fully leased, two-story, 153,000-square-foot facility in Andover, Mass.

1/19/2017

The Insured Retirement Institute will examine the Labor Department's proposed fiduciary-rule exemption that would designate independent marketing organizations as financial institutions if they meet certain requirements. IRI wants to ensure that the exemption "works in practice," and it appreciates "the department's recognition of the important role IMOs and insurance professionals play in providing retirement savings products," said Lee Covington, IRI's general counsel.