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Commentary by NICHOLAS DUNBAR Hedge fund investors who seek to reduce risk by seeking out famous managers, using funds-of-funds or insisting on quick access to their money often see lower returns as a result, according to a series of academic papers presented at the 5th Hedge Fund Research Conference in Paris on Jan. 24. The returns are lower even after adjusting for risk, studies show. >>>>> Continue reading.
Bank of America Corp. may have gained as much as $597 million from its hedges on mortgage-servicing rights in the fourth quarter, according to data from its filings. Click here to continue reading.
Deutsche Bank AG designed a derivative for Banca Monte dei Paschi di Siena SpA at the height of the financial crisis that obscured losses at the world’s oldest lender before it sought a taxpayer bailout. Click here to continue reading.
The 10 largest U.S. money-market funds’ holdings of French bank securities overtook their British counterparts for the first time in at least 16 months on growing confidence in the euro region and cheap U.K. state funding that lessened the need to issue short-term debt. The funds’ French bank holdings increased by $9.6 billion to $42.8 billion in December, while British banks were cut by [...]
