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Embattled fund manager Magellan says it intends to convert its $2.65 billion closed end fund, the Magellan Global Fund, into an open-ended exchange-traded fund following pressure from activist investor Nick Bolton. 

Analysts from stockbroker Barrenjoey say they have “some sympathy” for pubs billionaire Bruce Mathieson snr in his push to try to lift Endeavour Group’s performance, but say his aggressive campaign overplays the extent of the problems.

Reporting to CIO Marcus Brookes, James will represent the firm's investment strategy and market views by interacting with clients, advisers and the media. She will also become chair of the firm's tactical asset allocation meetings, while working with its portfolio managers and ‘global partners', described as investment houses that Quilter works with. Quilter WealthSelect exits impact EM fund following exclusion breach investigation James started her financial services career as an assistant fund manager at F&C Asset Management. She has almost 20 years of experience in the industry....

The four departing portfolio managers, who are part of the firm's 12-member global growth team, are Robert Hofmann, Marcus Morris-Eyton, Darina Valkova and Nicolas Goncalves. In light of the exits, Allianz GI has appointed Christian Schneider, current deputy global growth CIO and lead portfolio manager of the firm's flagship Global Equity Unconstrained strategy, to lead the team with immediate effect.  The asset manager will also replace some of the departed managers with two portfolio managers, Julian Bishop and James Ashworth, who both joined in November 2022. The firm said it will ...

The company first entered in talks to transfer the manager and strategy to Green Ash in July 2023. Green Ash is an asset management boutique with over $1bn in assets under management, specialising in liquid solutions in credit, equity, multi-asset and alternatives. The boutique has been contacted for comment. Odey AM's Geoffrey Marson and Odey Opportunity fund move to Canaccord Genuity The Odey Special Situations fund was first suspended on 15 June following the scandal involving several sexual misconduct allegations against founder Crispin Odey, and was then reopened on 11 July...

Waterfield Advisors has actively worked with ultra-high net worth individual (UHNI) clients and families to move significant capital into the social sector, either through grants or through impact-focused investing. Recognizing its role as a philanthropic advisor, Waterfield has now set up its own philanthropic foundation to create a direct impact.

Here are 5 important investment questions and their answers for millennials.

The MCX December gold futures were trading at Rs 59,040 per 10 gram, down by Rs 368, or 0.62%. Meanwhile, the December silver futures were trading at Rs 70,870 per kg, lower by Rs 417 or 0.58%.

By Rae Wee

Soaring energy costs have focused the minds of the nation’s captains of industry on the urgent need to decarbonise their bricks-and-mortar empires, new research has revealed.

NEW DELHI: As investors remain worried over the impact of merger, HDFC Bank shares have been underperforming with an 8% drop in the last one month. Ahead of the release of its Q2 earnings today, Anand James, Chief Market Strategist at Geojit Financial Services, says the present set-up doesn't convince a sustainable recovery. “Towards this end, we eye the prospects of rejection trades emerging this week, unless there is a close above Rs 1575/1612,” he says. Edited excerpts: Nifty saw some buying at lower levels last week. What would be your strategy going ahead as IT stocks are likely to see more downside pressure? Barring Infosys, IT stocks like TCS, HCL Tech and Tech Mahindra, which together form 11% of Nifty, seems to have found a base around their respective rising trendline supports hinting a bounce back. Towards this end, we do not expect IT stocks to be slowing down Nifty, but banks might.

Penfolds owner Treasury Wine Estates was hit with a 46 per cent protest vote over executive pay on Monday after the board allowed share-based incentives to chief executive Tim Ford on the basis that no-one could have foreseen the heavy profit drop from punishing wine tariffs imposed by China.

fund manager focuses on a stock’s inherent value rather than its market price. While speculations persist regarding Seth Klarman's net worth, the size of his fund, and the secrets behind his remarkable performance since assuming leadership at the Baupost Group, what truly holds significance is his enduring success. Irrespective of market conditions – whether it be a bear market, a bull market, or the turbulence of bubbles and abrupt downturns – Klarman has navigated them all, skillfully steering them in his favour through his steadfast long-term investment approach.

As the popularity of SIPs or Systematic Investment Plans — a monthly mode of investing in mutual funds — continues to soar with retail investors faithfully pumping money into actively managed equity-oriented schemes at a record pace every month, some market participants are raising doubts about whether this mode of investing in its current form is facing the risk of losing its edge. While the concept of SIPs broadly implies spreading investments across a period, it has become synonymous with regular equity mutual fund investing thanks to the reliable systems put in place by asset managers and the smart marketing push by the industry. The numbers are evident. In September, mutual funds' SIP monthly book crossed ₹16,000 crore for the first time. This was about ₹3,700 crore in the same month of 2016. In 2020, the monthly SIP flows were around ₹7,800 crore. Retail investors love the simplicity of this investing method partly thanks to increased digitisation. A roaring equities bull market has also fuelled their interest.

cautious trade as tensions in the Middle East escalated, while investors awaited a speech by Federal Reserve Chair Jerome Powell later this week for further clues on the U.S. central bank's rate outlook. The Israeli shekel fell to more than an eight-year low of 3.9900 per dollar in early Asia trade, after the country's Prime Minister Benjamin Netanyahu vowed on Sunday to «demolish Hamas» as his troops prepared to move into the Gaza Strip in pursuit of Hamas militants. Carry trades funded by the yen could be the biggest casualty of further escalation in the war, analysts said, as global investors who have for months been shorting the yen to invest in higher-yielding currencies buy it back as a safe-haven. The yen was last steady at 149.53 per dollar. The Japanese currency, which is near to potential intervention levels around 150, could also rally if the Fed has to stop hiking rates even as the Bank of Japan feels compelled by domestic inflation to tighten policy.

Also Read: 6 things that changed for the stock market over the weekend - Gift Nifty to falling US consumer sentiment Here’s what to expect from Nifty and Bank Nifty today: On the weekly chart, Nifty formed a long bull candle at the lows, post hammer candle pattern of last week. “The bulls were able to protect the level of 19600 during the day, thanks to the strong open interest (OI) build-up at the 19,600 strike price by put writers. The strength may continue as long as the index remains above 19,600.

SBI post on X. Although the bank has not shared any update on the same till the time of writing this story. Exciting news! Mint is now on WhatsApp Channels. Subscribe today by clicking the link and stay updated with the latest financial insights! Click here Digital payment through UPI, which was launched in 2016, has seen a multi-fold jump.

Hindustan Times. Under this booth vijay abhiyan (victory campaign), the party cadre will take a pledge to ensure the BJP's win at every booth in Madhya Pradesh, they added.

TCS: A nearly six-month-long probe into the bribes-for-jobs scandal at Tata Consultancy Services Ltd has resulted in crucial suggestions for hiring reforms, along with the sacking of the former head of its resource management group. On Sunday night, TCS disclosed to the exchanges that it had sacked 16 employees and blacklisted six staffing firms. E.S.

HDFC Bank, Grasim, Federal Bank, Bank of Maharashtra, ICICI Securities Shares of HDFC Bank, Grasim, Federal Bank, Bank of Maharashtra, and ICICI Securities will be in focus as the companies will announce second quarter results. DMart Avenue Supermarts reported a net profit of Rs 623 crore for the quarter ended September, which was down by over 9% year-on-year. Dalmia Bharat Dalmia Bharat has reported net profit of Rs 124 crore in the second quarter, while revenues stood at Rs 3,149 crore. Read more: Here's the trade setup for today's session Adani Enterprises Adani Enterprises said its two subsidiaries Mumbai International Airport and Navi Mumbai International Airport have received notices by the ministry of corporate affairs relating to initiation of investigation of books of accounts and other books and papers. Persistent Systems Persistent Systems has appointed Ayon Banerjee as the company’s chief strategy and growth officer with effect from October 13, 2023. Tata Motors Ahead of the IPO, parent Tata Motors will sell 9.9% stake in Tata Technologies for about Rs 1,614 crore. TPG Rise Climate will pick up about 9% stake in the transaction, which valued Tata Technologies at Rs 16,300 crore ($2 billion). Tata Steel Long Products Tata Steel Long Products has reported a net loss of Rs 136 crore in the second quarter.

RV Capital Management has raised its maiden private credit fund in India of ₹500 crore and is looking to raise up to an additional ₹300 crore. The fund targeting a return of 14% to 16%.