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Each day, DailyAlts tracks major developments across the alternative investment world. Our content is procured from primary contacts in the industry and secondary sources across the web. Our goal is to give readers the most up-to-date news and engaging experience to open new doors and areas of knowledge. Our stories cover nine separate verticals of the alternative investment industry.

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Hedge Funds: Four Portfolio Managers Leave Citadel

Volatility has shaken the markets. The Dow had its worst quarter in history. The U.S. economy could see GDP fall by 30% this quarter. And four portfolio managers at Citadel won’t be around to see what happens next.  Bloomberg reported that the hedge fund fired four portfolio managers last week. Chris Conner, Tio Charbaghi, Steve Bergman, and Chip Fortson are out, according to the report. The four all worked in Citadel’s Global Equities group. The timing coincided with the hiring of Justin Lubell, a Point72 alum, to take over that group.

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Japanese Regional Banks: The Trade to Start 2020
December 17, 2019

Japanese regional banks are starting to look for new capital as it becomes increasingly challenging to grow in a low-interest-rate environment. In a move similar to what we saw happen…

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Artificial Intelligence: Accenture Study Says Banks Could Save $70 Billion Using AI
December 16, 2019

The financial industry, including banks, could save hundreds of billions of dollars using automation and AI. Accenture’s report issued last week says North American banks could save more than $70…

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ESG & Sustainability: US Companies Bled $500 Billion From ESG Scandals
December 16, 2019

The Bank of America analyzed 24 scandals relating to accounting, data breaches, sexual harassment, and other ESG issues concerning companies in the S&P 500 index. It found that over the…

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Hedge Funds: Why Some Singapore Hedge Funds are Hitting It Out Of The Park
December 16, 2019

Some of 2019’s best performing hedge funds are based out of Singapore. Chong Chin Eai’s Vanda Global Fund is up over 300% this year. He started his hedge fund in…

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Artificial Intelligence: AI May Put the Finishing Touches to Beethoven’s Tenth
December 16, 2019

A year of celebrating Beethoven’s 250th birthday starts today. The celebrations begin today in Bonn with the inauguration of Beethoven’s home as a museum after extensive renovations. This 250th year…

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Private Equity: Global Infrastructure Partners to Invest $3 Billion in Indonesia
December 16, 2019

According to Indonesia’s Coordinating Maritime Affairs and Investment Minister Luhut Pandjaitan, private equity fund Global Infrastructure Partners (GIP) could invest up to $ 3 billion in the country. He said…

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Digital Assets: solarisBank to Provide Custody Services Through New Subsidiary
December 13, 2019

The new company is one more initiative by solarisBank, the tech company with a banking license, in the digital world. It follows up on solarisBank’s 2018 launch in 2018 of…

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Alternative Investments: Private Debt a New Safe Harbour for the Superrich
December 13, 2019

As low or negative rates bite, family offices invest more and more in private debt. Wealthy individuals and family offices are lending money where banks fear to tread. Gone are…

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Artificial Intelligence: Why Wall Street Jobs Are Vulnerable to AI
December 13, 2019

A Wells Fargo report said robots would take away 200,000 banking jobs in the next decade. What about trading and advisory jobs on Wall Street? The House Financial Services Committee’s…

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Digital Assets: Dutch Bank ING to Provide Safe Custody for Digital Assets
December 13, 2019

ING is working to develop safe custody technology for cryptocurrencies and other digital assets. The $980 billion bank will address a major problem that deters institutions and other high net…

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