Tesla, Ford attract new investments from George Soros’s fund

Billionaire investor George Soros’s investment fund has bought stakes in Tesla Inc. and Ford Motor Co. and added to existing stakes in EV makers Lucid Group Inc. and Nio Inc., according to a filing late Friday. The fund acquired 29.5 million shares of Ford F, +2.21% in the reporting period ended in June, the filing … Read more

New York Insurance Fund Refunds $550M to Employers for Workplace Safety

New You can now listen to Insurance Journal articles! The New York State Insurance Fund reported that it returned more than $550 million over the past year to businesses through its workers’ compensation safety discounts and dividends programs. The state agency provides dividends for companies that belong to a NYSIF safety group, where employers in … Read more

Rs 1,000-crore angel fund to boost 10K start-ups in Uttar Pradesh

The Uttar Pradesh (UP) government has created an angel fund of Rs 1,000 crore to facilitate setting up 10,000 start-ups across sectors. So far, 6,800 start-up ventures come up with Noida, Ghaziabad, and Lucknow leading the pack. According to a UP government spokesperson, incubators in fintech, education, health, agriculture, textile, and IT/IT-enabled … Read more

SEC proposes boosting private fund disclosures on leverage, crypto

(Reuters) — The U.S. Securities and Exchange Commission on Wednesday proposed a rule to improve the quality of disclosures it receives from large hedge funds about their investment strategies and leverage. The rule, which was proposed in conjunction with the Commodity Futures Trading Commission, is part of a broader regulatory effort to increase transparency of … Read more

SFO secures conviction in £100mn litigation finance fund fraud

A former solicitor who funnelled almost £20mn from a “no win no fee” litigation finance fund into his own pocket has been convicted following a Serious Fraud Office probe. Timothy Schools, 61, was found guilty of all five counts against him at Southwark Crown Court on Tuesday for using cash from the Cayman Islands-based Axiom … Read more

Argo Group Hands Board Seat to Activist Hedge Fund Firm Voce Capital

Argo Group International Holdings handed a board seat to its largest investor on Monday, adding activist hedge fund manager J. Daniel Plants only a few months after announcing a strategic review that could include a sale of the insurance company. Argo, which underwrites specialty insurance products in the property and casualty market, said it expanded … Read more

Florida’s Ag Commissioner Wants Lower Retention for Cat Fund

New You can now listen to Insurance Journal articles! Florida’s agriculture commissioner, a Democratic candidate for governor, is on board with what many in the insurance industry have been asking for: utilizing the state’s hurricane catastrophe fund to provide lower-cost reinsurance to more property insurers. Commissioner Nikki Fried, who noted that her office acts as … Read more

Equity mutual fund inflows record 42% drop in July, shows AMFI data

As Nifty recovered by nine per cent in July, net inflows in equity mutual funds dropped 42.6 per cent month-on-month to Rs 8,898.25 crore. In June, when the Nifty hit a record 52-week low, inflows in equity MFs were at Rs 15,497.76 crore, according to the data released by the Association of Mutual Funds in … Read more