Search

(Bloomberg) -- More than $8 billion is on the move in Charles Schwab Corp.'s exchange-traded funds, stirring speculation the firm could be adjusting the packaged strategies it offers clients as markets gyrate amid the pandemic. Over the past seven trading days, $4.6 billion has exited from a group of four ETFs including Schwab's fundamental equity and intermediate-maturity Treasury funds. [Extracted from the article]

The Central Bank of Ireland has increased its monitoring of the U.K. investment market as it prepares for Brexit, the Financial Times reported. The bank asked fund investment companies to immediately notify it of any large-scale mutual fund withdrawals, the FT reports, citing a confidential request sent in December. [Extracted from the article]

China's central bank pulled the most funds from the financial system in almost two months this week, adding to concerns over tight liquidity ahead of quarter-end demand. The overnight weighted average repurchase rate fell one basis point to 2.85 percent as of 5:48 p.m. in the Chinese city, which the seven-day cost was at 2.96 percent. [Extracted from the article]

China's central bank refrained from offering reverse-repurchase agreements for the third day in a row, which resulted in a net withdrawal of funds from the financial system. "Moreover, the big picture now is deleverage, so the central bank will continue its efforts to guide short-term rates higher, and we can't rule out the possibility of further hikes in the reverse repo rates". [Extracted from the article]

U.K. banks' exposure to the country's commercial real estate sector is more than 65 billion pounds ($84 billion), almost a third of the combined market value of the biggest lenders. To contact the reporters on this story:Blaise Robinson in Paris at brobinson58@bloomberg.net;Chris Malpass in Berlin at cmalpass@bloomberg.netTo contact the editors responsible for this story:Gaurav Panchal at gpanchal2@bloomberg.netAndrew Rummer, Sheldon Reback Attribution Chris Malpass: by reporter Blaise Robinson: by reporter Sheldon Reback: editor Andrew Rummer: editor Gaurav Panchal: editor responsible. [Extracted from the article]

U.K. property funds could come under further stress after a surge in redemptions following the country's vote to leave the European Union caused three asset managers freeze their holdings, Morgan Stanley said in a note to clients on Tuesday. The value of office properties in central London could fall by as much as 20 percent after Britain leaves the EU as companies consider moving to Europe or delay expansion plans in the U.K., according to industry commentators. [Extracted from the article]

Norway increased withdrawals from the nation's wealth fund again in March, running ahead of estimates made by the central bank just two months ago. At the faster pace, full-year withdrawals would top an estimate of 80 billion kroner given in February by the central bank governor, who oversees the $860 billion fund. [Extracted from the article]

Use of fund in budget could rise to 80 billion kroner: Olsen "The fall in oil prices will reduce Norway's national wealth", Norges Bank Governor Oeystein Olsen said Thursday in his annual speech in Oslo. [Extracted from the article]

Investors resumed redemptions from Bill Gross's Janus Global Unconstrained Bond Fund in November, taking out about $74 million, the largest monthly outflow since the erstwhile bond king took over the fund last year. The November withdrawals came the same month it was disclosed that one of Gross's biggest individual backers, billionaire George Soros's investment firm, pulled $490 million from a separately managed account that followed the same strategy as the Janus unconstrained mutual fund. [Extracted from the article]

Clients continued to pull money from some of Grupo BTG Pactual SA's fixed-income funds, bringing net withdrawals since billionaire founder Andre Esteves was arrested last month to 60 percent of net assets. Attribution Brendan Walsh: editor responsible Ney Hayashi: by reporter Cristiane Lucchesi: assist Julia Leite: editor. [Extracted from the article]

Some of Grupo BTG Pactual SA's fixed-income funds have lost about half of their net assets in the week that followed the arrest of the firm's billionaire founder, Andre Esteves. Attribution David Scheer: editor Brendan Walsh: editor responsible Ney Hayashi: by reporter Cristiane Lucchesi: assist Julia Leite: editor. [Extracted from the article]

Investors pulled equivalent to 40% of net assets of 10 funds The value of assets under management at BTG Pactual's Chilean mutual funds fell to 805 billion pesos ($1.14 billion) by Nov. 30 from 982 billion pesos on Nov. 24, the day before Esteves's arrest, according to data from the Chilean mutual funds association. [Extracted from the article]

The article reports on concerns on the ability of parents in Greece to cover the costs of their children's study abroad as part of the Erasmus exchanges due to limitations on cash withdrawals imposed in the country.

Another offshore fund that pumped investor cash into Bernard Madoff's record Ponzi scheme settled a lawsuit over the case, agreeing to put up $140 million to help repay his victims. The trustee, Irving Picard, has sued dozens of offshore investment funds, claiming they ignored red flags in exchange for Madoff's high returns. [Extracted from the article]

A total of 80 percent of North American sovereigns expect zero or reduced funding, compared with 42 percent of funds in the rest of the world, Invesco said in its Global Sovereign Asset Management Study on Wednesday. Some sovereigns expect the fall in oil price to lead to a short-term reversal to more conservative investment strategies and defer long-term allocation towards alternative asset classes, according to Invesco. [Extracted from the article]

Old Mutual Global Investors transferred management of a $272 million bond fund to Bill Gross at Janus Capital Group Inc. from his previous firm, Pacific Investment Management Co. Gross, 71, returns to managing the Old Mutual Total Return USD Bond Fund on July 6, Old Mutual said in a statement from London on Friday. The objective of total return consistent with preservation of capital and prudent investment management won't change, the company said. [Extracted from the article]

Investors pulled $7.3 billion in March from the Pimco Total Return Fund, down from redemptions of $8.6 billion in February and $11.6 billion in January, according to data from the Newport Beach, California-based firm. Total Return suffered the worst withdrawals in the history of fund management last year as investors pulled a record $105 billion. The performance of Pimco Total Return has rebounded as the new managers reduced the fund's exposure to debt maturing within five years, as Gross went the other way. [Extracted from the article]

The article suggests strategies to teach children to manage finances. It explains the concept of minor-operated accounts offered by banks that can be managed independently by children without supervision of their parents. Also discussed are the variation in the minimum balance requirement for minor-operated bank accounts, the rules for automated teller machine (ATM) transactions, and the importance of imposing withdrawal limits on debit cards to check on bank account balances.

PIMCO's Total Return Fund saw roughly $4.3 billion in redemptions last month, continuing a record streak of capital withdrawals, Bloomberg reported. [ABSTRACT FROM AUTHOR]

The article rep;orts that the withdrawals of mutual fund Pimco have reached 11.6 billion dollars in January 2015. Topics covered include the comparison of the trend with the withdrawals made in December 2014. Also mentioned is the impact of the trend on the total amount of assets earned by the fund during the month.