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In the years before the financial crisis, private offerings of stock held much allure.
Raising capital, of course, can reduce the value of stock held by existing shareholders.
We are announcing today the Harvard Corporation's decision to direct Harvard Management Company (HMC) to divest itself of stock held by HMC in PetroChina Company Limited (PetroChina).
That is because a big chunk of stock held by insiders in companies that went public in 1999 is about to be unlocked.
Those shares and a conversion of preferred securities into common stock will dilute the value of stock held by current shareholders by about 40percentt.
By contrast, shares of closed-end funds often trade at significant premiums or discounts to the value of the underlying shares of stock held by the funds.
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Rakesh and his team, in their effort to streamline operations, reduced the number of stock holding points to five and delivery hubs to four.
A tax cut for corporations looks, on its face, like a big giveaway to stockholders, mainly bypassing ordinary families: of stocks held by Americans, 84percentt are held by the wealthiest 10percent35percentcent of U.S. stocks are held by foreigners.
"The brokerage business is linked to the performance of regional stock exchanges, reflecting the value of stocks held, and as soon as volume trickles away, brokerage businesses suffer," Mr. Vayanos said.
When the credit crunch hit, one fund was forced into cutting its positions, bringing down the prices of stocks held by all its rivals and setting off a downward spiral.Reinventing quantsThis does not mean the end of quant investing.
The report found that the percentage of stocks held in target-date funds at the target date stabilized at about 42 percent in 2011, after increasing from 40 percent to 43 percent from December 2007 to December 2010.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com