By Salvatore Ruscitti, of MRB – The Macro Research Board We recently upgraded energy stocks to neutral from underweight. Downside risks to oil prices and rising costs for oil producers were key reasons behind our downgrade of the sector in May 2013. Our cautious stance worked out well as a supply-induced bear market in […] Read more »
A.M. Best on Insurance Industry Hedge Fund Exposures
By Jason Hopper and Ken Johnson of A.M.Best* Introduction In A. M. Best’s recently published briefing, “Industry Interest in Non-Traditional Assets Continues”, we discussed the overall increased interest in non-traditional assets which are found on Schedule BA of the U.S. statutory filings. As allocations to Schedule BA assets (BA assets) have been increasing for […] Read more »
GLG Fine Illustrates That Valuation Remains a Top Regulatory Focus
By Deborah Prutzman, The Regulatory Fundamentals Group LLC The SEC charged GLG Partners, L.P. (“GLG”), a UK investment adviser, and GLG Partners, Inc. (“GPI”), its US holding company traded on the NYSE, for failing to maintain adequate controls over the valuation of Level 3 assets. This is one of several valuation cases settled by the […] Read more »
SEC Preview Top Hedge Fund Enforcement Trends for 2013
By Perrie Michael Weiner, Patrick Hunnius and Stephanie Smith of DLA Piper In a recent speech* before the Regulatory Compliance Association, Bruce Karpati, Chief of the Securities and Exchange Commission’s Enforcement Division’s Asset Management Unit, suggested where the SEC may be heading regarding hedge fund oversight in the months to come. Mr. Karpati both […] Read more »
Positive Prospects For Global Equities in 2013
By Virginie Maisonneuve, Head of Global and International Equities, Schroders Global equities are very attractively valued and we are positive for their prospects in 2013 as the global economy normalises. Progress in Europe, the end of China’s growth slowdown and continued momentum in the US economic recovery will support global equities. Longer-term investors must position […] Read more »