BlackRock Profit Jumps on Broader Pandemic Recovery (The Wall Street Journal)
The money manager posts profit of $1.2 billion and sees assets under management rise. BlackRock Inc.’s quarterly profit rose 49% as the giant asset manager benefited from surging markets and investors’ willingness to bet on an economic recovery. The money manager posted a first-quarter profit of $1.2 billion, or $7.77 a share, up from $806 million, or $5.15 a share, a year earlier. BlackRock’s revenue rose 19% to $4.4 billion from $3.7 billion in the year ago period when panicked investors fled to cash while a pandemic rippled through the globe.
Hedge Fund Titans Fight Back as Larger Managers Pull Ahead in March (Reuters)
Larger hedge funds have entered the second quarter on a high after a staging an impressive fightback which saw them generate above-average returns in March after lagging the industry average during the first two months of the year. The 10 biggest hedge fund managers reporting to eVestment’s database experienced gains of 1.12 per cent in March, compared to an industry average return of 0.83 per cent last month. Overall, eVestment’s Hedge Fund Aggregate ended Q1 up 4.92 per cent, outperforming both the Bloomberg Barclays Global Aggregate (-4.46 per cent) and the MSCI World ex-US GD (4.17 per cent), though lagging the S&P 500 (6.17 per cent).
A Director at RPM International (NYSE: RPM) is Selling Shares (Analyst Ratings)
Today, a Director at RPM International (RPM), Thomas Gross, sold shares of RPM for $1M. This is Gross’ first transaction since reporting a Buy transaction on WBC back in March 2017. Based on RPM International’s latest earnings report for the quarter ending February 28, the company posted quarterly revenue of $1.27 billion and quarterly net profit of $38.24 million. In comparison, last year the company earned revenue of $1.17 billion and had a net profit of $11.85 million. The company has a one-year high of $98.35 and a one-year low of $62.39. Currently, RPM International has an average volume of 528.05K.
IPI Partners Raises $3.8 Billion with a Second Infrastructure Fund (Opalesque)
Global investment platform IPI Partners has wrapped up its second flagship private equity fund after securing $3.8 billion from investors, with plans to target data centers and other connectivity-related investments, the firm said. A press release from the joint venture of ICONIQ Capital and Iron Point Partners pointed out that the fund acquires, develops, leases, and operates data centers. With the closing of IPI II, IPI has raised more than $5.25 billion in total equity capital commitments since its inception, it said. IPI’s second fund attracted demand well over its target, reflecting strong support from a global institutional investor base.
Coindex Capital Raises Minimums For Its AI-Driven Funds To $1 Million (The Street)
It’s been two weeks since Coindex Capital Management registered four AI-driven strategies with the SEC and minimums have already gone up. The Atlanta-based hedge fund filed amendments yesterday to raise the minimum investment on all four of its funds from $100,000 to $1 million. It’s a sign that Coindex has piqued the interest of institutional investors.
The SVP R&D of NanoString Tech (NASDAQ: NSTG) is Selling Shares (Analyst Ratings)
Yesterday, the SVP R&D of NanoString Tech (NSTG), Joseph Beechem, sold shares of NSTG for $662.3K. In addition to Joseph Beechem, 3 other NSTG executives reported Sell trades in the last month. The company has a one-year high of $86.42 and a one-year low of $24.87. Currently, NanoString Tech has an average volume of 483.89K. NSTG’s market cap is $3.14 billion and the company has a P/E ratio of -24.90.
