Wealth Management
Top stories summarized by our editors
8/16/2018

Hedge funds are receiving greater allocations from Chinese high-net-worth investors than individual stocks, Yue Zhang of CreditEase said. Chinese regulators, however, are seeking to bolster stock market investment and tighten oversight of financial firms, which means asset managers face "serious obstacles to doing business" in the country, PwC said in a report.

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CNBC
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PwC
8/16/2018

A report titled "Efficient Flows," to be released this month by AIMA and the CAIA Association, will explore four key aspects of liquidity and how they apply to hedge fund strategies, writes CAIA Association CEO Bill Kelly. Some regulators have sought prescriptive methods of calculating and disclosing liquidity, which can be effective "in periods of tranquility," although "[t]imes of stress are quite a different story and it is here that liquidity measurement is more of an art than it is science," Kelly writes.

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AllAboutAlpha
8/16/2018

Hedge funds are putting about $900,000 annually into alternative data, according to a Greenwich Associates report, which questions the effectiveness of such data as it becomes more mainstream. Greenwich surveyed 40 mostly quantitative investment managers this year and found frustration over the lack of standardization in modeling or testing the results of such data.

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ValueWalk
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Greenwich Associates
8/16/2018

Hedge fund returns were 0.59% on average last month and 0.79% for January through July, as macro and managed futures products' underperformance is offsetting strong performance in other areas, eVestment said. Investor sentiment likely is questionable regarding macro strategies and low regarding managed futures, according to eVestment.

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eVestment
8/16/2018

When the ERISA Advisory Council asked companies about the policy change that would do the most to improve retirees' access to lifetime income, a "better safe harbor for selecting an annuity provider" was the most common response. "A clear, simple safe harbor is a necessary first step to increase the interest of plan sponsors in adding lifetime income options to their plans," said American Benefits Council Senior Vice President Lynn Dudley in testimony to the ERISA council.

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PlanSponsor online
8/16/2018

The Dutch-based financial firm Aegon said it is making progress in cutting its costs through a variety of measures including outsourcing the administration of its life and annuity business in the US. About two-thirds of the company's business in the US.

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Reuters
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Aegon
8/16/2018

The Federal Reserve will raise interest rates fewer times than some expect, says analyst Richard Bove of Hilton Capital Management. Bove predicts a rate hike in September but no rate hike in December, saying he doesn't think President Donald Trump wants it to happen.

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CNBC
8/16/2018

Nontraded business development company Sierra Income has announced plans to purchase Medley Capital, a publicly traded business development company, and Medley Management, an alternative asset management company. Medley Capital will be merged into Sierra, which will operate Medley Management as a subsidiary.

8/16/2018

Second-quarter results reported by Griffin-American Healthcare REIT IV show funds from operations at $6.9 million, a 123% year-over-year increase. Meanwhile, modified funds from operations totaled $6.2 million for the quarter, up more than 112% compared with Q2 of 2017.

8/16/2018

The boards of nontraded business development company Triton Pacific Investment and closed-end interval fund Pathway Capital Opportunity Fund have approved a planned merger between the two companies. If approved by shareholders, the entities will combine to create TP Flexible Income Fund, a nontraded business development company.