 | | | | A bear market in the so-called FAANG stocks - Wall Street's most popular trade going into the year - is pushing fund managers into searching for the next big growth companies that can lead the overall market higher. | | | | | | On Friday, the Nasdaq Composite closed almost 22 percent below its record high daily close on Aug. 29, signaling a nearly nine-and-a-half year bull market run for the index ended in late summer. | | | | | | London-based fund firm City Financial and the chief investment officer of its Decca Fund, Shahraab Ahmad, have decided to wind down the credit-focused strategy after it "did not deliver the performance that you expect of us", according to a letter to investors reviewed by Reuters. | | | | | | Hedge fund Latimer Light Capital, which specialized in picking stocks, is closing its doors, becoming the latest casualty in an industry pummeled by the recent stock market sell-off. | | | | | | Goldman Sachs Group Inc Chief Executive David Solomon on Friday defended the bank against criticism of its compliance and oversight related to dealings with the sovereign wealth fund 1MDB, according to a message sent to employees obtained by Reuters. | | | | | | The U.S. Securities and Exchange Commission said on Friday it had settled charges with automated investment management providers Wealthfront Advisers LLC and Hedgeable Inc to resolve allegations that the companies had made false disclosures to their customers. | | | | | | Greg Jensen, co-chief investment officer of Bridgewater Associates, the largest hedge fund in the world, is forecasting "significantly weaker, near-recession-level growth" next year. | | | | | | Investors fled U.S.-based stock funds in the latest week, setting those investments up for their biggest month of withdrawals on record, Lipper data showed on Thursday. | | | | | |
