Legg Mason Sees No Growth at Permal in Next Two Years But Lots at Entrust

Numbers of HFs and FoFs from HFR 664 x 400

By Hedge Fund Insight staff Yesterday’s release of the 10-Q filing of Legg Mason, parent of fund-of- funds group Permal, contained an update on the parent’s expectations of growth at the hedge fund subsidiary.  Expectations have been lowered, leaving the carrying value of the business at less than half of that previously held in LM’s […] Read more »

Some Dangerous Signals Appear in Financial Markets

By Stewart Richardson, Chief Investment Officer of RMG Wealth Management   We held our quarterly investment meeting last week (please let us know if you would like to receive a copy of the chart pack), and as you would expect, in both preparing for the meeting and in discussion during the meeting, we thrashed out […] Read more »

Recent Setback In High Yield Was Technically Driven

By Dan Doyle, Portfolio Manager of Non-Investment Grade Credit at Neuberger Berman   The U.S. high yield market’s decline in July was its first setback in nearly a year. Could this be a sign of continued weakness or merely a correction? We believe continued strong fundamentals could point to a short-term sell-off and a fairly […] Read more »