The recent market crash in Indian stock markets is driving funds from equities to mutual funds (MFs). As a result, fixed income mutual funds are witnessing increased inflows of funds amid ongoing bear market.
Investors
Asian hedge funds look to safe haven after January crash
Hedge funds in Asia witnessed losses the most in January 2016. The financial markets sell-off in the month made hedge funds suffer losses over 10 percent. Asia-focused hedge funds recorded losses of 3.1 percent indicating the worst beginning since 2008.
Anglo American loss widens on write-downs
Anglo American Plc suffered a pre-tax loss of $5.5 billion (£3.8bln) for 2015 year. The 2015 loss was more than twice the loss incurred in 2014. As part of its future strategy, Anglo American is planning to shift its focus to copper, platinum and diamonds.
Brazil's Usiminas hires Credit Suisse for unit sale
Brazilian steelmaker Usiminas Siderurgicas de Minas Gerais SA, a Brazilian steel producer, is in the process of offloading its manufacturing unit. Usiminas has already hired Credit Suisse SA as its financial advisor for the unit sale. The sluggish global economy and China's economy slowdown are impacting the Brazilian steel industry in more negative way.
Foreign investors take US small biz route
The market volatility, rising dollar and sluggish global economy are forcing foreign investors towards the US small business credit market for growth opportunities. Foreign investors generally prefer to invest in US treasury bonds. But the prevailing global conditions are propelling them to park their funds in small business credit market.
Latest News
Amazon just closed a deal worth Rs 9.5 Crores acquiring a 26 percent stake in the India fifth largest publishing company, Westland. Amazon bought the shares from its main investment firm, Trent Ltd, a company owned by the Tata Group.
Pandora Media Inc has engaged Morgan Stanley to facilitate the selling itself including identifying potential buyers. Pandora has been spending heavily to attract more number of users amid increasing competition in internet radio space.
The London property market is witnessing soaring buying activity for rental apartments ahead of new tax on home coming into effect from April 2016. The latest rush for buying is also pushing prices up.
Smart gardening startup Edyn announced today that it raises a $2 million seed round. The investment, led by Fenox Venture Capital, followed by other firm such as Ideabulb Ventures and also some angel investors
A startup focusing in the student accommodation markets just received $60 million from high-profile firms and individuals, led by VY Capital. Student.com will use the funds to expand its presence and service in the promising markets of international students accommodation. For now, most of Student.com's bookings came from Asia-based students.
The UK stocks, after suffering losses for three sessions in a row, rebounded. Barclays and other financial companies led the gains. After suspension of trading for a day, the trading in Barclays stock resume on Monday. The FTSE 100 index dropped 9.2 percent in 2016 so far.
Analysts have updated their outlooks towards SoftBank, majority of whom have put a ‘Outperform’ tag for the embattled Japanese concern. Meanwhile, SoftBank’s stock has witnessed a fall of 27.60% since July 2, 2015 ahead of releasing earning figures. The stock price fall is due to its $22 billion investment in Sprint which has turned to be bad debt.
The British company formed a partnership worth $7.6 million to develop hydrogen fuel cell technology for smartphones. The technology would create a need to modify the hardware of the smartphone to manage the chemical reaction waste. Intelligent Energy stated that if all goes well, the new technology could hit the market in two years.
Two of the many energy related shares in Carl Icahn portfolio's plunged on Monday trade causing the activist investors a paper loss of $90 million. The two companies are Chesapeake Energy Corp. and Transocean Ltd.
