Sydney-based hedge fund GCQ Funds Management said the bottom is in for the software selloff, snapping up about A$200 million ($143 million) worth of tech stocks caught in the downdraft. The fund sold some of its top-performing stocks, including European luxury goods companies, to invest in beaten-down software stocks. In recent weeks, it has targeted Microsoft Corp , accounting software firm Intui...
Sydney-based hedge fund GCQ Funds Management said the bottom is in for the software selloff, snapping up about A$200 million ($143 million) worth of tech stocks caught in the downdraft. The fund sold some of its top-performing stocks, including European luxury goods companies, to invest in beaten-down software stocks. In recent weeks, it has targeted Microsoft Corp , accounting software firm Intuit Inc and tech giant SAP SE , according to Chief Investment Officer Doug Tynan . Technology firms have been swept up by the so-called “AI scare trade,” after a string of updates from startups including Anthropic PBC revived doubts about the sector’s near-term prospects. The slump deepened earlier this week after a blog post from little-known Citrini Research sketched a stark disruption scenario, stoking fresh worries about the sector’s vulnerability to rapid advancements in AI. “One of the strangest days in markets I’ve ever seen was Monday this week when a hypothetical science fiction scenario from someone I’ve never heard of not only dropped the market, it caused the White House to comment,” Tynan said in an interview, referring to Citrini’s post. “That was the bottom — that’s my call.” The A$2 billion fund manager has endured a run of poor performance , as some of its largest holdings have underperformed in recent months. For instance, Hemnet Group AB , a Swedish property portal, is more than 70% below its 2025 high. Even so, the firm is on pace for record monthly net inflows in February after attracting A$50 million last month, as its distribution team and Tynan himself urged clients to take advantage of cheap software stocks. “The point of maximum disruption was last week,” Tynan said, adding the software selloff has been “one of the most illogical market selloffs I’ve ever seen.” GCQ has also doubled down on property portals, buying the UK’s Rightmove PLC and SMG Swiss Marketplace Group AG , and added to its position in Hemnet after earlier trimming its holding as the...
Japan’s sovereign bonds can offer yields of around 6% for dollar-based investors willing to take a bet on long-dated debt, according to BlackRock Inc., which dubbed the current backdrop a “ golden age ” for investing. Investors can earn around 4% from the yield on long-dated Japanese bonds and pick up an additional 2% by hedging the currency, Navin Saigal , BlackRock’s head of global fixed income ...
Japan’s sovereign bonds can offer yields of around 6% for dollar-based investors willing to take a bet on long-dated debt, according to BlackRock Inc., which dubbed the current backdrop a “ golden age ” for investing. Investors can earn around 4% from the yield on long-dated Japanese bonds and pick up an additional 2% by hedging the currency, Navin Saigal , BlackRock’s head of global fixed income for Asia Pacific, said in a Bloomberg TV interview, referring to a strategy that effectively involves lending dollars and receiving yen. That level of yield fits with BlackRock’s broader view that investors have a rare opportunity to lock in a historically high level of income — 4% to 6% — for relatively low volatility. Saigal joins the likes of Pacific Investment Management Co. in highlighting how Japanese government bonds are offering juicier yields than in years past amid concerns about higher fiscal spending and sticky inflation. For dollar-based investors, hedging the currency exposure — holding short yen positions against the greenback — can produce yields that rival, and in some maturities exceed, those of Treasuries. “When you hedge those yields back to dollars, that actually fits nicely in a 6% yielding portfolio,” Saigal said, referring to longer-maturity Japan debt. “You can get up to 3% to 4% on the JGB yield itself, and another 2% pickup in the FX hedge.” Japan 20-year bonds, for instance, yield 6.06% when hedged back to the greenback, offering more than 140 basis points of pick up on similar Treasuries. The difference is even bigger with 30-year debt, as Japan bonds offer about 175 basis points more than their Treasuries peers. Read more: Jupiter’s Nash Buys Japan Bonds in Career First After Vote But there are risks to the trade. Longer-dated debt can be more illiquid and trading a lot more volatile. Yields on 20- and 30-year Japan bonds suddenly spiked last month on fears that Prime Minister Sanae Takaichi ’s administration would ramp up fiscal spending, wipi...
Hungary's Prime Minister Viktor Orban arrives to attend a European Council summit at the EU headquarters in Brussels on March 21, 2024. Sameer Al-doumy | Afp | Getty Images Hungary has accused Ukraine of disrupting oil supplies it gets from Russia and has stationed troops at critical energy facilities across the country as Prime Minister Viktor Orban ramps up the rhetoric around energy and nationa...
Hungary's Prime Minister Viktor Orban arrives to attend a European Council summit at the EU headquarters in Brussels on March 21, 2024. Sameer Al-doumy | Afp | Getty Images Hungary has accused Ukraine of disrupting oil supplies it gets from Russia and has stationed troops at critical energy facilities across the country as Prime Minister Viktor Orban ramps up the rhetoric around energy and national security ahead of parliamentary elections in April. Orban on Wednesday accused Kyiv of imposing an "oil blockade" on Hungary by delaying the reopening of the Druzhba pipeline which supplies it, and neighboring Slovakia, with Russian oil. Ukraine shut the pipeline a month ago, saying a Russian strike had damaged it , but Hungary's leader accused Kyiv of deliberately keeping the pipeline closed for "political" rather than "technical" reasons. "The Ukrainian government is exerting pressure on the Hungarian and Slovak governments through an oil blockade," Orban said in a video on X following a meeting of the Hungarian Defence Council on Wednesday. "They will not stop there," he claimed, adding: "They are preparing further actions to disrupt Hungary's energy system," without further details or evidence. Orban said he had "ordered the strengthening of the protection for critical energy infrastructure. That means that soldiers and the necessary equipment to repel potential attacks will be deployed near key energy facilities." "The police will also patrol with increased forces around designated power plants, distribution stations and control centers," he said. Drones were also banned in the north-east border region with Ukraine. Ukraine has not publicly responded to the accusations and CNBC has contacted the country's foreign ministry for a response. The ramping up of rhetoric around energy and national security, and an increase in anti-Ukraine sentiment, comes as Hungary's leadership fights to stay in power ahead of a parliamentary election in April. Orban's right-wing Fidesz p...
whitebalance.space/E+ via Getty Images Introduction Back in June last year , my own thorough analysis of Sila Realty Trust ( SILA ) made me skip this REIT. The main reason was the fact that adjusted funds from operations (AFFO) declined
whitebalance.space/E+ via Getty Images Introduction Back in June last year , my own thorough analysis of Sila Realty Trust ( SILA ) made me skip this REIT. The main reason was the fact that adjusted funds from operations (AFFO) declined
Dream Unlimited Corp. ( DRM:CA ) declares CAD 0.175/share quarterly dividend . Payable March 31; for shareholders of record March 13; ex-div March 13. See DRM:CA Dividend Scorecard, Yield Chart, & Dividend Growth. More on Dream Unlimited Corp. Dream Unlimited Corp. (DRM:CA) Q4 2025 Earnings Call Transcript Seeking Alpha’s Quant Rating on Dream Unlimited Corp. Historical earnings data for Dream Unl...
Dream Unlimited Corp. ( DRM:CA ) declares CAD 0.175/share quarterly dividend . Payable March 31; for shareholders of record March 13; ex-div March 13. See DRM:CA Dividend Scorecard, Yield Chart, & Dividend Growth. More on Dream Unlimited Corp. Dream Unlimited Corp. (DRM:CA) Q4 2025 Earnings Call Transcript Seeking Alpha’s Quant Rating on Dream Unlimited Corp. Historical earnings data for Dream Unlimited Corp. Dividend scorecard for Dream Unlimited Corp. Financial information for Dream Unlimited Corp.
Apollo Global Management Inc. and BNP Paribas SA are nearing a deal to partner up in Europe’s private credit market, people with knowledge of the matter said. Under the agreement, the two firms will arrange loans to corporate and private equity clients in Europe, said the people, who weren’t authorized to speak publicly. They didn’t specify the size of the deal. Apollo, which inked a $25 billion d...
Apollo Global Management Inc. and BNP Paribas SA are nearing a deal to partner up in Europe’s private credit market, people with knowledge of the matter said. Under the agreement, the two firms will arrange loans to corporate and private equity clients in Europe, said the people, who weren’t authorized to speak publicly. They didn’t specify the size of the deal. Apollo, which inked a $25 billion deal with Citigroup Inc. in 2024 to target North American borrowers, is seeking to export the formula to Europe. Apollo said that though it “has a great relationship with BNP, particularly here in Europe” it will decline to comment on any specific partnership developments. A representative for BNP Paribas declined to comment. BNP Paribas is among the largest arrangers of investment-grade and leveraged finance credit, according to Bloomberg data. The French bank is ranked the most-active in European bonds and second for EMEA leveraged loans. Apollo meanwhile has one of the largest credit platforms of private capital managers globally. Read More: BofA Commits $25 Billion of Its Own Cash to Private Credit Deals Banks angling for a piece of the $1.8 trillion private credit market have been setting aside bigger chunks of their balance sheets to win business. Bank of America Corp. is committing $25 billion to private-credit deals, joining Wall Street rivals in putting its own balance sheet to work, Bloomberg recently reported. Last year, JPMorgan Chase & Co. set aside an additional $50 billion of the firm’s balance sheet. The potential Apollo and BNP partnership comes as the private credit market is under unprecedented scrutiny. Warnings about the industry have been building in recent days following the selloff of alternative asset managers heavily exposed to software businesses — one of the sector’s most at risk from the disruptive impact of artificial intelligence. Read More: Private Credit Fears Deepen With UBS Warning of 15% Defaults
winhorse/iStock Unreleased via Getty Images Sony Group ( SONY ) is said to be expanding its ongoing share buyback program to as much as ¥250 billion ($1.6 billion), more than double its previously announced ¥100 billion, as part of a push to increase capital efficiency. The Japanese entertainment
winhorse/iStock Unreleased via Getty Images Sony Group ( SONY ) is said to be expanding its ongoing share buyback program to as much as ¥250 billion ($1.6 billion), more than double its previously announced ¥100 billion, as part of a push to increase capital efficiency. The Japanese entertainment
Karen Ward, JPMorgan Asset Management's EMEA chief market strategist, discusses the market's reaction following the so-called "AI scare trade." She says investors are "absolutely right" to be picking into the story and the idea of "price to perfection." Speaking on Bloomberg Television, Ward adds the rotation "still has a lot further to go" within the US market. (Source: Bloomberg)
Karen Ward, JPMorgan Asset Management's EMEA chief market strategist, discusses the market's reaction following the so-called "AI scare trade." She says investors are "absolutely right" to be picking into the story and the idea of "price to perfection." Speaking on Bloomberg Television, Ward adds the rotation "still has a lot further to go" within the US market. (Source: Bloomberg)
At least 23 people were injured in overnight strikes, with 420 drones and 39 missiles used by Russia to target Ukraine, Kyiv says Defending Nato’s eastern flank in case of a potential Russian aggression would cost at least €1.2tn ($1.42 trillion), Polish foreign minister Radosław Sikorski said in a speech to parliament, Reuters reported. “Defending the countries of Nato’s eastern flank in the even...
At least 23 people were injured in overnight strikes, with 420 drones and 39 missiles used by Russia to target Ukraine, Kyiv says Defending Nato’s eastern flank in case of a potential Russian aggression would cost at least €1.2tn ($1.42 trillion), Polish foreign minister Radosław Sikorski said in a speech to parliament, Reuters reported. “Defending the countries of Nato’s eastern flank in the event of a potential Russian aggression would cost at least twelve hundred billion euros - twenty-four times more than the Polish defence budget, ” he warned. “Despite what its propaganda claims, Russia is by no means winning. Don’t fall for it. Russia is not, and never has been, invincible.” Continue reading...