One of the first sovereign-wealth funds, and the largest at the state level in the U.S., just made a big bet on groceries as inflation continues to pressure American consumers. Alaska Permanent Fund tripled its investments in shares of Walmart and Kroger —the respective No. 1 and No. 2 players in terms of their share
The initial public offering market is showing signs of life again. And the optimism following the strong debuts for Reddit and AI cloud infrastructure company Astera Labs appears to be spreading. Case in point: A closed-end fund that invests in Elon Musk’s SpaceX, Fortnite maker Epic Games, OpenAI, fintech giants Stripe and Chime and other
The US legal giant has recruited financial regulation partner Sebastian Barling from the Magic Circle law firm, according to people familiar with the situation. Barling spent nearly 13 years at Linklaters and was promoted to partner in 2018. He previously spent four years at Reed Smith. Linklaters has been hit by a string of partner exits
Kirkland & Ellis has hired a finance partner in London from Allen & Overy. Vanessa Xu is a sponsor-facing leveraged finance partner who has been with the Magic Circle law firm for more than 17 years, making partner in 2017. Xu is joining Kirkland in London, the US law firm said in a statement. “Vanessa
It’s campaign season, and not just for presidential candidates. It’s also proxy season, when shareholders get to vote on proposals to change policies at the companies they invest in. Mutual funds are no exception, and the world of closed-end funds is often home to some epic battles. Case in point: In dueling statements, Saba Capital
A well-articulated sell strategy—and the discipline to stick with it—are among the most important qualities a patient investor can have, but they’re often overlooked. Most investors can explain why they bought a stock, but few can say, before they buy a stock, what would cause them to sell it. The managers of the MFS International
This past year was more difficult than United Parcel Service imagined when it set its three-year goals back in 2021. UPS stock closed above $200 a share on June 9, after the 2021 meeting. Shares closed this past week at $156.27. On Tuesday, UPS is set to meet with analysts and investors in Louisville, Ky.,
Bitcoin and other cryptocurrencies were weaker Friday, struggling into the end of a bearish week for digital assets as Bitcoin plunged after notching an all-time high. While analysts and traders remained bullish on the outlook for crypto, there are still warning signs that a correction may not be over. The price of Bitcoin has fallen
Tax day is almost here, and, thanks to higher interest rates, many investors are finding they earned a lot more income from their portfolios in 2023—and now they owe the government a piece of it. “That’s a good thing,” says Mary Ellen Stanek, co-chief investment officer at Baird Asset Management. “But it means investors need
