Tuesday, 28 April 2015
Last updated 1 hour ago
Jun 20 2012 | 11:40am ET
ABN Amro is pouring more of its clients' money into hedge funds as it seeks to profit from high market volatility.
The firm's private banking business has increased its hedge fund allocation from neutral to overweight, Bloomberg News reports. ABN manages some €164 billion (US$207 million) on behalf of clients.
"Hedge funds are in a stronger position to extract value and preserve capital than constrained 'long-only' investments in bonds and equities," Didier Duret, ABN Amro Private Banking's chief investment officer, told Bloomberg. "Global macro hedge funds can better preserve capital and make money when financial markets ignore fundamentals and are more driven by macroeconomic and policy risks."
ABN remains neutral on stocks.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…