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    Altin Seeks Macro, Event-Driven Managers as Opportunities Increase

    Altin, the closed-end fund of hedge funds with $250 million in assets, is looking to allocate money to global macro and event-driven managers in a move to add risk to the portfolio, according to Michael Malquarti, portfolio manager for Alternative Asset Advisors S.A., the investment manager of the listed fund. To read more, click here.

    Sales of ‘Worst of’ Notes Soar as Stocks Diverge

    Sales soared 94 percent this year of U.S. structured notes where the yield depends on the worst performer in a basket of stocks, as issuers hunt for ways to lure buyers amid lower equity volatility and interest rates. Investors bought $1.07 billion of the securities, up from $551.5 million over the same period a year [...]

    Sukuk Outperform During Fed-Triggered Selloff

    Islamic bonds fared better than non-Shariah compliant notes in the emerging-market debt selloff last week after the Federal Reserve signaled it may trim bond buying, prompting the widest spread in 19 months. To read more, click here. 

    Gottex Seeks Event-Driven, Activists Hedge Funds in Shift to Equities

    Gottex Fund Management Holdings Ltd., the $6 billion Lausanne, Switzerland-based firm, is looking for activist, event-driven and long-short equity funds, as part of a move away from credit, chief investment officer Kevin Maloney said. To read more, click here.

    Basel Examines Banks’ Diverging View of RWAs

    Global regulators said they are weighing steps to ensure that banks take a realistic view of the possible losses on their investments, after uncovering variations in how lenders assess risk. To read more, click here.

    AIG to Probe if MF Global Trader Was Employee

    An American International Group Inc. unit and other insurers can probe whether a “rogue trader” was an employee of MF Global Inc. as part of a lawsuit over liabilities for losses tied to the company’s collapse, a New York appeals court ruled. To read more, click here.

    Invensys Bidding seen luring decade-High Price

    Invensys Plc shareholders may be rewarded with a price not seen in a decade if Schneider Electric SA’s approach sparks a bidding war. Shares of the British industrial technology company have traded above Schneider’s informal offer of 505 pence a share during each of the last three trading days, indicating some investors may be wagering on a higher [...]

    Omaha Power Dogged by Disaster Fixes

    The risk of floods and tornadoes is preventing investors in $1.8 billion of bonds of Nebraska’s biggest electricity provider from participating in the best year since 2008 for munis of power companies. To read more, click here.

    Bernanke Report, Beige Book, DOE Inventories

    WHAT TO WATCH: Federal Reserve Chairman Ben S. Bernanke will appear before the House today and the Senate tomorrow to present a semi-annual monetary policy report, with a statement due at 8:30 a.m. Housing starts in the U.S. may have climbed in June to an annualized 960,000 rate, 8:30 a.m. The Bank of England voted 9-0 to keep the target [...]

    Bernanke, Barclays, Greek Vote, BOE Minutes

    NEWS: Ben Bernanke may tell Congress that reducing QE won’t presage an increase in the main Fed rate. Barclays and four ex-traders were fined $487.9 million by the U.S. Federal Energy Regulatory Commission in a probe into manipulation of energy markets. Moody’s said Ireland’s ratings outlook may stabilize by the end of 2014. To read more, click here.

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