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Chipmaker AMD (NASDAQ: AMD) has unveiled a range of innovative AI solutions spanning from data centers to personal computers. The AMD Instinct MI300 Series features data center AI accelerators, while the ROCm 6 open software stack introduces new features supporting Large Language Models (LLMs). Additionally, the Ryzen 8040 Series processors come equipped with Ryzen AI capabilities.
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Liquid Alternatives: In 2019, Globally, and especially in Europe, ETFs Raked It In
The global ETF market drew in inflows of nearly half a trillion euros (€495bn) in 2019.
But European ETFs were a standout, pulling in €104bn of net new assets, and setting a new record, according to data from Amundi Asset Management cited by INVESTMENT WEEK.
Investment Company Institute: Funds are Pouring Money into Bonds
The Investment Company Institute cited the largest outflows of capital from mutual funds and ETFs since September. During the first full week of 2020, fund investors pulled $13.1 billion out of the vehicles.
Hedge Funds: Bridgewater Co-CIO Is Bullish on Gold Prices
Bridgewater Co-CIO Greg Jensen believes that gold prices could hit $2,000 or more. Jensen told the Financial Times this week that geopolitical uncertainty and inflationary policies could press gold at least 30% higher. In the conversation, Jensen cited ongoing tensions between the U.S and Iran. He also mentioned concerns about income inequality in the United States.
Private Equity: AMP Capital’s Global Infrastructure Fund II (GIF II) Fund Closes with $3.4B Kitty
In an impressive encore, AMP Capital’s latest Global Infrastructure Fund II romped home with $3.4 billion, well-ahead of its targeted raise of $3 billion. The predecessor fund raised $2.4 billion in January 2017.
Artificial Intelligence: Chinese Think Tank Doesn’t Think AI and Robots Will Destroy Jobs
The Chinese people need have no fears that their jobs would be taken over by artificial intelligence and robots says a government report.
According to a report by The Chinese Academy of Social Sciences, artificial intelligence (AI) is unlikely to put millions of Chinese out of jobs. On the contrary, a report from the Chinese government’s think tank says additional jobs would be created due to the adoption of AI.
Hedge Funds: BlackRock To Back Up ESG Rhetoric With Action
Change is afoot at BlackRock, the world’s largest asset manager. The firm is finally veering around to using its enormous financial and investment clout to push for climate action, according to Reuters.
BlackRock CEO warned in his annual letter to investee CEOs, titled “A fundamental reshaping of finance,” that “climate change has become a defining factor in companies’ long-term prospects,” and that markets have been slow to reflect the growing global concerns on climate change.
Digital Assets: Fidelity Digital Assets UK To Provide Bitcoin Custody Services to European Fund
The UK-regulated Nickel Digital Asset Management announced Tuesday it’s launch of the Nickel Digital Gold Institutional Fund, its second cryptocurrency offering. The digital assets of the fund will be secured using long-term cold storage provided by Fidelity Digital Assets. For Fidelity, Nickel Digital represents its first European partner fund.
Fidelity Investments, the $7.8 trillion investment management giant, incorporated its UK arm on December 16, 2019. Its brief: to provide crypto services to European businesses, hedge funds, and family offices.
Venture Capital: New, Boston-Based VC Firm to Target Insurtech and Fintech
Boston-based Brewer Lane Ventures is a newly minted venture capital firm that launched January 9. Brewer Lane is founded by John Kim, who was previously President and Chief Investment Officer of New York Life Insurance Company. The firm will focus on investing in the rapidly growing insurtech (insurance+tech) and fintech (finance+tech) industries. Within these industries, it will target early-stage companies looking for Series A and B rounds of funding.
Real Estate: Indian Real Estate 2019-Big Deals Largely Concluded by Foreign PE Investors
Foreign private equity invested US$5.03 billion in Indian real estate in 2019.
Compared to 2018, when foreign PE investors poured in US$ 5.13 billion into Indian real estate, investment fell by 2% in 2019.
Digital Assets: Two Blockchain Devices That Pressed The Right Buttons at CES 2020
Device security fanatics will welcome the blockchain based phone and camera. CES 2020 did – with innovation awards.
The Consumer Electroncis Show (CES) 2020 at Las Vegas honoured the Blok on Blok (BOB) phone from Pundi X and the UCAM camera from IoTeX with CES 2020 Innovation Awards, reports coindesk.
Both products rely on the blockchain to address privacy and security concerns.
ESG: A Firm’s ESG Investments Could Launch a Virtuous Circle – ISS Report
There is a mutual cause-and-effect relationship between a firm’s ESG investments and its profitability, says a report by ISS ESG.
ISS ESG is the responsible investing arm of Institutional Shareholder Services (ISS). The ISS study found that those firms which invest in improving their ESG corporate ratings are also more profitable.
Artificial Intelligence: Ex-Goldman CIO Makes Leap to Healthcare
Marty Chavez walked away from Goldman Sachs in late 2019. Now, he’s sitting on the board of artificial intelligence startup Paige. The New York-based firm uses AI to detect, diagnose, and improve the treatment of cancer.
Hedge Funds: Alleged Theft of Citadel’s $100 Million Trading Strategy
Citadel Securities sues GSA for allegedly acquiring the highly confidential strategy from its employee through improper means.
Citadel’s ABC strategy, which it uses to generate “many millions of dollars each year” trading US and European stocks, is at heart of a lawsuit. The hedge fund, owned by billionaire Ken Griffin, has gone to court against London-based GSA Capital Partners and five of its senior executives.
Real Estate: Only 16% of Loans to Indian Real Estate is under “Severe Stress,” Says Report
Only 16% of Loans to Indian Real Estate is under “Severe Stress,” Says a Report from Anarock Capital. This statistic should be heartening news for beleaguered Indian real estate.
Venture Capital: Goodyear Launches New Venture Fund at CES 2020
Goodyear, one of the world’s largest tire companies, plans to advance the future of mobility with a $100 million venture capital fund. The company announced the fund, dubbed Goodyear Ventures, at Las Vegas, where it was participating in the 2020 Consumer Electronics Show.
Alternative Investments: This ETF Copycats Top Hedge Funds and Undercuts Their Fees
Launched in December, the iM DBi Hedge Strategy ETF (DBEH) is an actively-managed ETF. Its objective: to match or outperform the largest Global Equity Long/Short hedge funds from the HFR (Hedge Fund Research, Inc.) database.
Digital Assets: CME Options on Bitcoin Futures Now Trading
CME commenced trading in Bitcoin options on Monday.
On the first day of trading, Bitcoin options worth $2.19 million traded on CME. This was ahead of the volume of $1.15 million traded on the rival Bakkt exchange.
Alternative Investments: A Bidding War For Voya Financial May Happen This Year
Voya Financial may become a possible takeover target in the coming months, according to the Financial Times. The report indicates that the former ING Group insurance unit and retirement plan provider has explored a possible sale. Voya reportedly spoke with AIG, Principal Financial Group, and Prudential Financial in 2019 about a deal.
Private Equity Merger: Aksia Buys Out TorreyCove Capital Partners
New York advisory Aksia will purchase private equity consultancy TorreyCove Capital Partners. The deal will see the two firms marry under the name Aksia. Aksia has specialized in private credit and hedge fund strategies. TorreyCove has specialized in private equity and real asset strategies.
Alternative Investments: Lazard Asset Management Launches High-Conviction Strategy Fund
Lazard Asset Management has made yet another splash in thematic investing. The firm has launched a new fund employing a high-conviction global equity strategy. The company announced the strategy behind the new Lazard Global Thematic Focus fund. The strategy will invest in at least 35 to 50 companies around the globe.
FinTech: Visa Snaps Up Fintech Network Plaid for $5.3 Billion
Visa Snaps Up Fintech Network Plaid for $5.3 Billion. Plaid allows people to connect their finances to apps.
Fintech applications need to connect up with a user’s financial accounts to deliver true benefits of immediate updation and convenience.
Fintech: Goldman Sachs Launches Its Marcus App
Online bank Marcus from Goldman Sachs Group has finally come to mobile devices. The Wall Street financial giant launched its long-awaited app for customers last week. The lack of an app has been an ongoing source of frustration for customers who could only see balance transfers, account information and make payments on loans with their phones and other devices.
Hedge Fund Westbeck Capital Management: Time to Bet on Canadian Energy
Westbeck Capital Management is turning its attention to beaten-down Canadian energy companies. The energy hedge fund believes that these firms will have stronger cash flows in the year ahead compared to their U.S. shale competition. The fund also says that U.S. producers are facing stronger production drops than the Canadian firms.
Hedge Fund Alden Global Capital Offers Buyouts to Tribune Publishing Employees
Tribune Publishing buyouts are coming. And it didn’t take long for newsroom jitters to become a reality. Just two months after Alden purchased a 32% stake in the publisher, it has offered buyouts to Tribune employees. The hedge fund is notorious for reducing employee headcounts and expenses at the publications it purchases.