IMF earmakrs $50bn in emergency funding

The IMF has earmarked $50bn in emergency financing for countries stricken by a coronavirus, as the fund said the outbreak had forced a cut to its forecast for global economic growth. According to Kristalina Georgieva, IMF managing director, adverse scenarios about the spread of the virus and how it would affect the global economy were…

Soft Bank’s $100bn vision fund

Rajeev Misra, , a London-based banker and the head of Soft Bank’s $100bn Vision Fund has lined up millions of dollars outside investment for a new hedge fund style vehicle, to pursue complex bets on publicly traded companies., with able support from Abu Dhabi’s state fund Mubadala, which in turn has helped to instil interest…

Fragile banks pose a greater threat to society than when they are dishonest

  In the great financial crisis of 2007-2008,  finance came too close to wrecking the global economy. The presence of rogue behaviour in finance, Nesvetallova and Palan turns to the economist Thorstein Veblen  (1857-1929) who observed that businessmen were proficient at making profit by interfering in markets, and wrote “ something in the nature of…

Jim Simons an enigma

Jim Simons who is worth $23bn is the greatest money maker in modern financial history, no other investor neither Warren Buffett, Rau Dalio, Steve Cohen, Peter Lynch, or George Soros can touch his record. Since 1988, Renaissance’s signature Medallion fund has generated average annual returns of 66 per cent and earned profits of over $100…

Woodford collapses and traps clients

Three Hundred thousand customers of Hargreaves Lansdown were caught in the collapse of Woodford Investment management.  The Uk’s biggest online funds supermarket had championed Neil Woodford, who on Tuesday announced that he was closing his company after being fired from his own flagship fund.  Hargreaves promoted Woodford fund on its best- buy list and attracted…

BlackRock achieves record profit and swells inflows of $84bn

The world’s biggest fund manager BlackRock has achieved a record profit margin, as new clients and lower costs boosted its assets, which attracted $84bn inflows in the third-quarter, with half going to its iShare business, an ideal passive investment vehicle where Exchange-Traded Funds are engineered to meet your investment goals. Its active equity funding attracted…

Ahren raises £196m for start-up innovation funding

Ahren, an innovative fund  backed by eight of Cambridge’s best known scientists and engineers, has raised  £196m ( $250m) to invest in companies aiming to create new technologies with large market potential. The scientists hope the fund will help to ease the shortage of capital for innovation start-up companies in the UK. the range of…