Liquidators of the failed New Earth Recycling and Renewables (NERR) fund now have more than 200,000 documents in their possession and want to establish if there is a case to take legal action against any party deemed liable for the collapse.
Mismatches between the liquidity of open-ended investment funds’ assets and their redemption profiles could lead to “fire sales” to meet redemption requests in times of market stress, the European Systemic Risk Board (ESRB) has warned.
One of Japan’s biggest cryptocurrency exchanges was hacked and around JPY58bn (£377m, $534, €429m) of virtual currency NEM stolen, prompting a fall in its value of 11% over a 24-hour period, it was revealed on Friday.
Tens of thousands of cryptocurrency investors in India have been sent tax bills, after a nationwide survey showed more than $3.5bn (£2.5bn, $2.8bn) worth of transactions in the alternative asset were made over a 17-month period.
Global independent financial advice firm deVere Group has added a cryptocurrency app to its suite of products to meet “soaring global demand”, despite lingering concerns about the viability and legitimacy of digital currencies.
The world’s best-known cryptocurrency, bitcoin, has suffered yet another setback, tumbling to $13,635 (£10,069 €11,346) on Tuesday.
While investors may find the allure of stellar returns on Bitcoins too much to resist, offshore centres are catching up to offer services and regulations for the emerging cryptocurrencies.
Whisky investors are spending on average £10,000 a year on rare malts and amassing collections worth £75m, according to a world wide survey.
Secondary fundraising within investment trusts hit an all-time high of £6bn in 2017, up £1bn on last year, according to research from the Association of Investment Companies.
Almost 60% of fund selectors believe environmental, social, and governance (ESG) strategies will become more integrated into portfolios, though most currently have low or no weighting towards these strategies, according to a survey.
SG Guernsey, a wholly owned Stanley Gibbons subsidiary, has gone into administration with £70m in debts and leaving stamp collecting investors in limbo.
This year alone, the Pimco Income fund has attracted more than €28bn in net new money from European investors, according to Morningstar data. This is almost half of all net inflows into unconstrained bond funds this year, and has made the $64.3bn (€54.6bn) strategy the world’s largest actively managed fund. There are few, if any…
