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Your Money: Why you need time, money to serve on a volunteer board

July 26, 2017 By Chris Taylor NEW YORK (Reuters) – For many of us, the notion of being on a board of directors seems like the pinnacle of capitalist dreams. Meet a few times a year, stay at a luxury hotel, offer some pithy business advice, and cash a check. What is not to like? For volunteers on nonprofit boards, though? Life is very different indeed. Just ask Kelly Shikany. The financial planner from Chesterton, Indiana, had “prestigious” visions of board life swimming in her head, perhaps involving hanging out…

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Adam Fisher advisor Lior Kosovski Money Top News U.S. 

Macro trader Fisher joins Soros as CommonWealth shuts

July 26, 2017 By Lawrence Delevingne NEW YORK (Reuters) – Macro hedge fund firm CommonWealth Opportunity Capital GP LLC is shutting down and its leader, Adam Fisher, is set to join Soros Fund Management LLC, where he will help manage money for billionaire George Soros, according to people familiar with the situation. Lior Kosovski, CommonWealth’s general counsel, and Michael Vachon, a spokesman for Soros, declined to comment. The news was first reported by Bloomberg. Soros made his fortune running his own macroeconomic-focused hedge funds and Fisher will help invest using…

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California debt Edward Vargo Money tax Top News 

Your Money: The high price of ignoring financial advice

July 25, 2017 By Beth Pinsker NEW YORK (Reuters) – People hire financial advisers with the very obvious goal of getting advice on how to handle their money. So why do investors often cut advisers out of consequential decisions? Some advisers say their threshold for wanting to know about a client’s out-of-budget expenditure is around $2,000. But sometimes clients skip picking up the phone and make financial decisions on their own, even when it is a big one. It can happen even with the best clients, who otherwise seem to…

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Money offer report Snap Inc Snapchat Top News 

FTSE Russell says most investors support voting rights for index inclusion

July 25, 2017 By Ross Kerber BOSTON (Reuters) – Index provider FTSE Russell said on Tuesday that a majority of investors it surveyed supported its suggestion that companies should offer at least some voting rights in order to be included in its stock indexes. FTSE Russell, part of the London Stock Exchange Group, said in a report posted on its website that respondents to the survey, which included asset managers and other stakeholders, offered comments on whether to include a voting rights threshold and if so, at what level. FTSE…

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bank court Money New Jersey Top News Wells Fargo Advisors 

Wells Fargo asks court to require client information be returned

July 24, 2017 By Elizabeth Dilts NEW YORK (Reuters) – Wells Fargo & Co has asked judges in New York and New Jersey to require a lawyer representing a former employee to immediately return reams of client information the bank mistakenly sent to the attorney, a bank spokeswoman said on Monday. In response to a New Jersey court case involving a dispute between ex-Wells Fargo employee Gary Sinderbrand and his brother who also worked there, the bank disclosed tens of thousands of client names, Social Security numbers, account balances and…

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Bengaluru Editing Money Nikhil Subba rates Top News U.S. 

Carlyle seeks $15 billion for its seventh U.S. buyout fund: Bloomberg

July 24, 2017 (Reuters) – Private equity firm Carlyle Group LP is looking to raise $15 billion for its next U.S. buyout fund, Bloomberg reported on Monday, citing people familiar with the matter. The fund, the firm’s seventh for the United States, is part of Carlyle’s aim to raise $100 billion from 2016 to 2019, Bloomberg reported. Carlyle’s $15 billion fund could be the largest pool ever focused on buyouts in the U.S. region, Bloomberg reported, as private equity firms are raising ever-bigger pools of capital to provide returns to…

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debt email Money month Top News U.S. 

Global investors turn to stocks – canny bet or market top?: James Saft

July 21, 2017 By James Saft (Reuters) – (The opinions expressed here are those of the author, a columnist for Reuters) With equity indexes at all-time highs, global mutual fund and ETF investors may be choosing now as the time to reverse a long-running move into bonds and out of equities. That’s either in harmony with retail investors’ legendary ability to pick the top or a canny bet on global reflation. Since the great financial crisis the broad global trend has been for mutual and exchange-traded fund investors to load…

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debt Deutsche Bank Money policy rates Top News 

Clouds forming over top fund managers’ sunny investment calls

July 21, 2017 By Saikat Chatterjee and Kit Rees LONDON (Reuters) – Stock prices climbing ever higher as interest rates and volatility plumb rock bottom: for some of the world’s top asset managers, the investment outlook is as good as it gets. But look closer and clouds are forming that may put a dampener on this sunny outlook. Investors should beware a rise in bond yields, a downturn in economic data or a policy misstep in a large emerging market. As the big money managers outline their recommendations for the…

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Money pension Robin Respaut Top News U.S. 

CalSTRS annual returns jump to 13.4 percent from 1.4 percent

July 21, 2017 By Robin Respaut (Reuters) – The California State Teachers’ Retirement System on Thursday reported a 13.4 percent net return on investment for the fiscal year ended June 30, marking the first time the public pension fund exceeded its target return since 2014. Boosted by public and private equities, CalSTRS performed significantly better than last year, when it returned 1.4 percent. The higher returns relieve some pressure for CalSTRS, the country’s second-largest public pension fund with $208.7 billion in assets. Over the past five years, the fund averaged…

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accounts HSA industry Money spending Top News 

Investing in health savings accounts: Not ready for prime time

July 20, 2017 By Mark Miller CHICAGO (Reuters) – Will health savings accounts be the new 401(k)? Boosters of health savings accounts (HSAs) in the financial services industry and in the U.S. Congress think so. They argue that the tax advantages of health savings accounts (HSAs) make them a superior option for saving – especially to cover the rising cost of healthcare in retirement. And expansion of access to HSAs and contribution limits have been a centerpiece of most Republican health reform plans ricocheting around Washington this year. But a…

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