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Pune, June 9 () Serum Institute of India, the world's largest vaccine manufacturer, is investing USD 100 million on a potential COVID-19 vaccine being developed at Oxford University, according to a company official. The Pune-based company has partnered with AstraZeneca, a British biopharma giant, to ensure equitable supply of the AZD1222 vaccine doses to India as well as low-and-middle-income countries. "Our manufacturing facility is ready and we plan to start production in two months. We are spending more than USD 100 million for this facility. Till the trials are completed successfully for safety and efficacy, vaccines will not be distributed either in India or anywhere else in the world," Adar Poonawalla, CEO, Serum Institute of India (SII), said. "Having said that we will start making a few millions of doses and stockpiling it at personal risk," added Poonawalla, while plying to a question on the firm's plans to move ahead in terms of production of the doses. To a question on how much doses India is likely to get in the first phase and by when they would be available, he said that it is a bit early to comment on a specific number. "However, if the vaccine trials succeed, India will gain access to the doses as it will also be the requirement of the Government of India. And we are certain that everybody will respect if the substantial volumes go to India," he added. Earlier, Poonawalla, on tie-up with the British drug major had said, "SII is delighted to partner with AstraZeneca in bringing this vaccine to India as well as low-and-middle-income countries." Over the past 50 years, SII has built significant capability in vaccine manufacturing and supply globally. "We will work closely with AstraZeneca to ensure fair and equitable distribution of the vaccine in these countries." Talking about SII's endeavour to develop a vaccine with USA based firm Codagenix, Poonawalla recently said that at present, the firm is undergoing pre-clinical trials (animal trial phase) and hope to progress to the human trial phase by September/October. "The aim is to make the vaccine over the next 1.5-2 years to help combat the novel coronavirus. With the combined efforts of our partner Codagenix, we are optimistic that we will be able to provide a viable and effective vaccine for mass use," he had said. Besides, Oxford and Codagenix, the firm is also working with Austria's Themis and other two vaccine candidates. At least half a dozen attempts at creating a vaccine against coronavirus are on globally and the efforts at Oxford are considered one of the most promising. A vaccine will be a radical intervention which can arrest the loss of lives due to the infections. SPK MKJ

Serum Institute investing USD 100 mn on potential COVID-19 vaccine

<ul class="summary-list"><li>MicroStrategy CEO and <keyword id="6354947" type="UNKNOWN" weightage="60" keywordseo="bitcoin">bitcoin</keyword> evangelist <keyword id="10467759" type="PERSON" weightage="60" keywordseo="michael-saylor">Michael Saylor</keyword> said this is the "year of institutional investment" in <keyword id="2420795" type="PERSON" weightage="60" keywordseo="cryptocurrencies">cryptocurrencies</keyword>.</li><li>The news comes as bitcoin tested new highs of over $48,000 per coin on Tuesday morning.</li><li>Saylor held a "Bitcoin for Corporations" conference on February 3 and 4 that saw 7,000 companies attend.</li></ul>Noted <a href="https://markets.businessinsider.com/currencies/btc-usd">bitcoin</a> bull Michael Saylor said that 2021 is the "year of institutional investment" in cryptocurrency in an interview with Ran Neuner, the former host of CNBC's "Crypto Trader," on Tuesday.With fiat currencies depreciating, Saylor said, "the simple most value-creating thing" companies can do is convert cash from "analog money into a digital asset like bitcoin."According to the bitcoin evangelist, there were "1,000 companies" that "went through this transformation" in 2020 alone.Saylor, who is the CEO of the business intelligence firm <a href="https://markets.businessinsider.com/stocks/mstr-stock">MicroStrategy</a>, has been pushing corporate moves into bitcoin for some time. His company MicroStrategy owns over 71,079 bitcoins worth $3.35 billion at current prices.Read more: <a href="https://www.businessinsider.com/stocks-to-buy-16-high-conviction-picks-outperform-credit-suisse-2021-2?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener">Credit Suisse says to buy these 16 'highest-conviction' stock picks that are set to outperform despite the market's contrarian view</a>.Saylor's comments come on the back of a historic rise for bitcoin, which hit all-time highs on Tuesday of over $48,000 per coin after <a href="https://www.businessinsider.com/tesla-buys-bitcoin-elon-musk-stock-accept-form-of-payment-2021-2">Tesla announced a $1.5 billion investment</a> in the currency.Saylor and <keyword id="6355315" type="UNKNOWN" weightage="60" keywordseo="elon-musk">Elon Musk</keyword> have been linked in the media after a <a href="https://twitter.com/elonmusk/status/1340678358456274948?lang=en">tweet exchange</a> between the two showed Musk asking if bitcoin transactions in the billion-dollar range are even possible.Saylor responded, "Yes. I have purchased over $1.3 billion in #BTC in past months &amp; would be happy to share my playbook with you offline - from one rocket scientist to another."Ran Neuner asked Saylor about the <a href="https://markets.businessinsider.com/stocks/tsla-stock">Tesla</a> move and if there were other interactions between him and Musk in the Tuesday interview.Saylor responded by saying that as an officer of a public company, he "couldn't really comment on that one way or the other." However, he did call the move by <keyword id="107096" type="COMPANY" weightage="60" keywordseo="Tesla">Tesla</keyword> "forward-thinking" and compared the transformation from internal combustion engines to electric vehicles at Tesla to the "digital transformation of the balance sheet."Read more: <a href="https://www.businessinsider.com/bitcoin-bull-bear-cases-elon-musk-tesla-invests-goldman-novogratz-2021-2?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener">Tesla just invested $1.5 billion in bitcoin. Here are the bull and bear cases for the crypto, according to legendary macro trader Mike Novogratz and Goldman's wealth management CIO.</a>Michael Saylor has been the talk of the crypto world this month after he held a "Bitcoin for Corporations" conference on February 3 and 4.In his interview with Ran Neuner, Saylor said 7,000 companies and around 8,500 people attended the event, far exceeding his expectations for 2,000 attendees.He also noted the idea for the conference came from "popular demand." The bitcoin bull said he had been receiving hundreds of invitations for meetings to answer questions about converting fiat currencies into bitcoin after his company bought into the market.When asked about the next major company that might move into crypto, Saylor said he would look at "cash-rich companies," including big tech players, saying, "I think it makes sense for Apple," but "it could be any of the top five to 10." Still, bitcoin and Tesla always have their critics. Michael Burry, of "Big Short" fame, <a href="https://markets.businessinsider.com/currencies/news/big-short-investor-michael-burry-questions-tesla-bitcoin-dogecoin-bubble-2021-2-1030059706">said on Tuesday</a> he believes "we are in a blow-off top in all things" and that "<keyword id="31671" type="CITY" weightage="100" keywordseo="markets">markets</keyword> have now bubbled over in a dangerous way."Bitcoin traded at $47,344 on Tuesday as of 3:46 PM EST. The cryptocurrency has appreciated roughly 20% in the past two days alone.

Bitcoin evangelist Michael Saylor says this is the 'year of institutional investment' in cryptocurrency following Tesla's groundbreaking move

<ul><li><keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword>’s <keyword id="6354504" type="DEFINITION" weightage="20" keywordseo="reliance-jio">Reliance Jio</keyword> will infuse ₹15 billion in its yet-to-be set up <keyword id="6692069" type="UNKNOWN" weightage="20" keywordseo="jio-institute">Jio Institute</keyword>. </li><li>The Human Resource &amp; Development (HRD) Ministry granted the ‘eminence’ status to the Jio Institute in 2018. </li><li>The university campus is speculated to be set up in Navi Mumbai, according to N Gopalaswami, former Chief Election Commissioner. </li><li>Reliance Foundation Institution of Education and Research, which is setting up the university has already invested ₹7.7 billion.</li></ul>Mukesh Ambani’s Reliance Jio will infuse ₹15 billion in its yet-to-be set up Jio Institute over the next two years, <a href="https://economictimes.indiatimes.com/industry/services/education/ril-to-invest-about-rs-1500-crore-in-2-years-in-jio-institute/articleshow/70049742.cms">according to an ET report.</a> The company is known to have taken this decision after the Empowered Expert Committee (EEC) expressed displeasure with the delays in setting up the institute. The Human Resource &amp; Development (HRD) Ministry had granted the ‘<a href="https://www.businessinsider.in/the-indian-government-may-shortlist-14-more-educational-institutes-for-eminence-tag/articleshow/66991082.cms">eminence</a>’ status to the Jio Institute even before it went operational. The company was under the heat since it was the only proposed institute to be accorded with the ‘Institute of Eminence’ in 2018. This status was given solely on the basis of future prospects. As of now, Reliance Foundation Institution of Education and Research, which is setting up the institute, has already invested ₹7.7 billion. Earlier, the institute was supposed to be established in Karjat in Raigad district near Mumbai. Now, however, it is believed to be set up in Navi Mumbai, N Gopalaswami, former Chief Election Commissioner <a href="https://www.hindustantimes.com/india-news/jio-institute-may-come-up-in-navi-mumbai/story-P1r2ucakOrYM2NRAN1XZQP.html">told</a> Hindustan Times. The institute is expected have a sprawling campus across 800 acres. Eyeing global faculty The Jio institute is eyeing global academic experts to be a part of its faculty. It is in talks with <a href="https://economictimes.indiatimes.com/industry/services/education/jio-institute-faces-ire-of-expert-panel-for-failing-to-meet-deadlines/articleshow/69153915.cms">universities</a> like Massachusetts Institute of Technology (MIT), Stanford University, Northwestern University and Nanyang Technological University to bring in faculty experts and mentors to the institute. The institute is expected to hire university staff and prepare an academic curriculum by October 2020, ET reported citing the company’s response to the government’s EEC. According to media reports, the institute proposed to begin its first academic session in 2020-21, which was later revised to 2021-22. The institute is also expected to have a digital library and also incorporate digital learning modules. See also: <a href="https://www.businessinsider.in/the-indian-government-may-shortlist-14-more-educational-institutes-for-eminence-tag/articleshow/66991082.cms">The Indian government may shortlist 14 more educational institutes for ‘eminence’ tag</a> <a href="https://www.businessinsider.in/anil-ambani-in-talks-to-sell-his-office-in-mumbai/articleshow/70019302.cms">Anil Ambani is ready to lease his headquarters to save his sinking companies</a>

Mukesh Ambani to invest ₹15 billion into the much delayed Jio Institute

New Delhi [India], May 12 (ANI): India received foreign institutional inflows worth USD 26.6 billion into <keyword id="6354553" type="General" weightage="20" keywordseo="real-estate" source="Orion">real estate</keyword> during the six-year period from 2017 to 2022, a three-fold rise from the preceding six-year period, according to Nasdaq-listed investment management company Colliers. <keyword id="396143" type="General" weightage="20" keywordseo="foreign-investments" source="Orion">Foreign investments</keyword> in India have been on the rise over the last few years as the industry underwent an overhaul, with major structural, policy reforms inducing transparency and ease of business operations, according to Colliers' 'India- High on Investors' Agenda' report. The report delves into the factors that make India a preferred choice for global investors and how it has stepped ahead of other emerging economies. According to the report, foreign investments accounted for a sizeable share of 81 per cent of the total investments in real estate during 2017-22. "The country's investor-friendly FDI policies, increased transparency in deal structures, and higher investment limits through the direct route have encouraged global investors to invest in India's real estate sector," Colliers said. Institutional investments in real estate continued to remain upbeat in January-March 2023 as well, rising by 37 per cent year-on-year at USD 1.7 billion, led by the office sector. "India's favourable demographic indicators, deep digital talent pool, developmental government policies, infrastructure advancements and competitive costs have made it one of the top choices for global enterprises, fueling real estate demand in India. The strong economic and business fundamentals are enhancing institutional investors' sentiments; forging strategic partnerships to expand their portfolios," said Sankey Prasad, Chairman and Managing Director at Colliers India. From the perspective of global and Asia Pacific investors, the Indian property market currently offers attractive pricing, better valuations, and higher yields on assets. At the Asia Pacific level, India has become a preferred investment destination as Indian cities offer higher yields compared to other cities in the region at relatively lower pricing points. Major Indian cities like Bengaluru and Mumbai occupy the second and third positions, respectively, in terms of commercial yield on real estate assets across the region.

Indian real estate saw 3x  rise in foreign institutional investments during 2017-22: Colliers

New Delhi, Mar 12 () Local high networth individuals and leading financial institutions have evinced interest in putting money in crisis-hit Yes Bank, analysts said on Thursday. There is lot of interest in putting money into Yes Bank because now the real value will be unlocked as the stock price has already reached Rs 26 apiece, IIFL Securities Director Sanjiv Bhasin said. There is a mixed bag of local investors, mutual funds, AMCs,HNIs alongside ICICI and HDFC, he said further. "There is ICICI, HDFC, then there are individual HNIs like Radhakishan Damani (Dmart), Rakesh Jhunjhunwala and some mutual funds," Bhasin added. Yes Bank's administrator Prashant Kumar, a former SBI executive, has said that the lender is in talks with various investors to raise capital. Yes Bank was superseded by the RBI last Thursday under an administrator after it failed to raise capital. The troubled lender will announce its third quarter results for December 2019 on Saturday and analysts expect that there will be deterioration in bank's asset quality. "I think there will be deterioration in the asset quality, slippage would be higher, their core equity capital is expected to go below what RBI mandates," said an analyst on the condition of anonymity. The bank may post a loss of Rs 1,000 crore during October-December 2019-20 quarter, an analyst commented. Emkay Global Financial Services said: "We expect Yes Bank to report a loss of Rs 778 crore, mainly due to recognition of heavy corporate NPAs from its stress pool including ADAG NBFC, some real estate acounts and pending NPA provisioning for FY19." Emkay said it believes that SBI stake buy in Yes Bank will provide immediate capital support in the phase 1 of restructuring and also ensure continued support in the future capital raise with SBI being an anchor investor. "Apart from capital support, SBI holding stake in the bank will soothe depositors, as otherwise Yes Bank has been witnessing sharp deposit run down. However, we believe apart from capital infusion, bank will have to strip-off assets to further release capital and also rake up internal liquidity to pay-off depositors, where SBI can provide a pivotal role in buying these assets," it added. Bhasin said it has to be seen how much asset quality deterioration will be there on the results day. "Once we know that...recapitalisation, you know there is Rs 20,000 crore coming as far as capital (is concerned) and Rs 30,000 crore as deposits to allay all investors' negativity, so that is all presumption." As per the bank's reconstruction plan, SBI has committed Rs 2,450 crore investment through an acquisition of 49 per cent equity in Yes Bank, which remains in moratorium till April 3, as bank's capital condition has jeopardized. Yes Bank over the last over one year has failed to raise enough capital under the new leadership of Ravneet Singh Gill, who took charge as the managing director and CEO from March 1, 2019. Troubles at new-generation private sector started brewing up ever since the Reserve Bank denied extension to its co-founder Rana Kapoor -- who now is in the custody of the Enforcement Directorate on charges of financial mismanagement and money-laundering -- to continue as MD and CEO in September 2018, and had asked the lender to find a new successor. Yes Bank shares closed at Rs 25.05 on BSE, down 13.02 per cent from the previous close. KPM MR

Local HNIs, financial institutions keen to invest in Yes Bank, say analysts

New Delhi, Dec 27 () Higher education institutions should be allowed to invest their surpluses in a wider range of asset classes, industry body Ficci has suggested to the finance ministry.
 In its pre-Budget recommendations to the ministry, the body said allowing university endowments to invest in alternative investment funds and other asset classes will bring in greater transparency and better governance practices in the system.
 With the evolving need for a knowledge economy along with internationalization and massive human capital, the higher education sector in India is set to witness a host of reforms, it said in a statement on Friday.
 The operating revenue generated by higher education institutions in India is estimated to be upwards of Rs 1 lakh crore.
 This would, it said, constitute around 20 per cent of the overall size of charitable institutions, in which the total operating expenditure is estimated to be around Rs 5 lakh crore as of 2017-18.
 "Clearly, there is a significant surplus being generated in the higher education system annually. It amounts to around Rs 15,000 crore," it added.
 However, there are constraints around investing surplus funds generated in the higher education system in India.
 Currently, these funds are invested in real estate and there are transparency issues in these investments, it said.
 "Globally, higher education institutions have been investing in various asset classes such as domestic and foreign equity, alternative investment funds, real estate, and infrastructure investment trusts to generate additional income," it said.
 These investments have generated higher returns and have contributed to the growth of endowment funds of these institutions, the industry chamber said. RR ABM
ABM

Higher education institutions should be allowed to invest surpluses in more asset classes: Ficci

<ul class="summary-list"><li>Investors are scrambling to work out what the new <keyword id="12616996" type="UNKNOWN" weightage="60" keywordseo="omicron" source="Orion">Omicron</keyword> COVID variant means for the economy and <keyword id="11893875" type="UNKNOWN" weightage="100" keywordseo="markets" source="Orion">markets</keyword>.</li><li>Global <keyword id="12635003" type="UNKNOWN" weightage="60" keywordseo="investment-banks" source="Orion">investment banks</keyword> have told clients to brace for volatility in stocks, but so far seem cautiously optimistic.</li></ul>Investors around the world are scrambling to work out what the discovery of a new, highly mutated <a href="https://www.businessinsider.com/omicron-covid-variant-concern-what-we-know-2021-11">coronavirus variant</a> might mean for the global economy and markets.So far, there's not a huge amount of information on whether the <keyword id="12616995" type="UNKNOWN" weightage="60" keywordseo="omicron-variant" source="Orion">Omicron variant</keyword> is any more dangerous or transmissible, although <a href="https://www.reuters.com/world/africa/safrican-doctor-says-patients-with-omicron-variant-have-very-mild-symptoms-2021-11-28/">reports</a> from southern Africa have said so far many people have only mild symptoms.Omicron caused stocks and oil to plunge Friday, although they <a href="https://markets.businessinsider.com/news/stocks/stock-market-news-today-sp500-rebound-omicron-variant-coronavirus-2021-11">both rebounded</a> on Monday.The recovery appears to reflect the noises coming out of the world's top financial institutions, with many analysts sticking to relatively upbeat forecasts for US and <keyword id="12036388" type="UNKNOWN" weightage="60" keywordseo="global-stocks" source="Orion">global stocks</keyword>, while telling clients to brace for more volatility in the coming weeks.Here's what Wall Street strategists and economists are saying.Markets shouldn't jump to conclusionsMark Haefele, chief investment officer at UBS Global Wealth Management: "We share the markets' concern over the emergence of the new variant and will monitor developments closely. But we advise investors against jumping to conclusions based on small data samples and anecdotal reports with potentially large margins of error."We advise against hasty shifts in investment strategy and recommend staying invested." Christian Keller, head of economics research at Barclays: "Answering [key] questions [about Omicron] may take weeks, which could mean elevated uncertainty for the remainder of the year."One worst-case scenario involves the entire immunization process having to start from scratch, while the most benign outcome would be the discovery that 'Omicron' is neither much more transmissible, nor deadly than earlier variants and that existing vaccines are effective against it."The US economy is relatively resilientDavid Kelly, chief global strategist, <keyword id="12002884" type="UNKNOWN" weightage="60" keywordseo="jpmorgan" source="Orion">JPMorgan</keyword> Funds: "The economy should enter 2022 with a tailwind of strong wage growth, falling unemployment and huge gains in asset prices. "This week's economic reports, and particularly Friday's jobs report, should provide further evidence that the economy is gathering momentum in the fourth quarter."Read more: <a href="https://www.businessinsider.com/growth-stocks-to-buy-zoom-peloton-microsoft-etsy-wedbush-securities-2021-11">Zoom and Peloton have cratered after starring as stay-at-home faves in 2020. 2 analysts who were cautious explain why the stocks are struggling — and Wedbush's tech-trading head shares 4 competing growth names that look like better bets.</a>Volatility is likely to stick aroundChris Harvey, senior equity analyst at Wells Fargo: "Panic does not disappear overnight. When the market decides to 'shoot first, aim later' (even if the catalyst proves to be ephemeral), the sharp reaction suggests stress levels will take at least 1-2 weeks to decay."Michael Strobaek, global chief investment officer, Credit Suisse: "Market volatility is likely to persist until more facts about the new COVID-19 variant are known. "At this point, we reiterate our assessment from the latest Investment Committee report, i.e. keeping equities at a small overweight in portfolios and government bonds at an underweight."Omicron to boost 'growth' and hurt 'value' stocksLori Calvasina, head of US equity strategy at RBC Capital Markets: "The main risk we see today is that the intermediate-term bout of leadership in Value, Cyclicals, and Small Cap [stocks] we've been waiting for may be on hold."Growth, Secular, and Large Cap have tended to outperform when the rate of change in domestic COVID-19 is worsening."

'Stay invested': Major institutions brace for volatility in stocks but remain upbeat in face of Omicron variant

<ul class="summary-list"><li>A Brunswick Group survey found 58% of institutional investors have used Reddit for investment decisions.</li><li>And 46% of investors said they expect to increase their use of Reddit.</li></ul>Nearly 60% of institutional investors said they have used information on Reddit for an investment decision, according to the results of a new <a href="https://www.brunswickgroup.com/perspectives/digital-investor-survey/2023/" target="_blank" rel="noopener">Brunswick Group survey</a>.The investment advisory firm surveyed 257 US and European institutional investors – professionals who trade for banks, hedge funds and pensions – and found that 58% have used Reddit.In addition, 46% of investors said they expected to increase their use of Reddit for investment decisions in the following year."Reddit continues to grow as a platform for investment advice with more than 33 million finance conversation threads on the site, which has caught the attention of institutional investors," Brunswick said.The report also said 81% of investors made an investment decision based on information from a digital or social media site. Though Reddit was held in high importance, it fell behind other social media sites like Twitter, Instagram, YouTube, and LinkedIn when investors were asked to rank a platform's importance in evaluating stocks. <a href="https://markets.businessinsider.com/news/stocks/next-stock-market-crash-reddit-day-trader-risky-retail-investing-2023-2">Reddit</a> became popular in the retail investing community a few years ago, with amateur traders flooding the subreddit WallStreetBets to jump on the wild ride meme stocks took during the pandemic. Now various subreddits have extended their reach to professionals, with 49% of institutional investors saying they got an investment idea from WallStreetBets, 51% from the subreddit r/cryptocurrency, and 53% from r/investing.The interest among institutional investors may be linked to the plunge in meme stocks that were once touted on Reddit, the report said, pointing to the rise and fall of <a href="https://markets.businessinsider.com/news/stocks/short-sellers-sitting-on-19-billion-of-losses-on-gamestop-data-shows-2021-1-1030020684">Gamestop</a>, <a href="https://markets.businessinsider.com/news/stocks/amc-stock-price-falls-q4-earnings-deeper-losses-2023-3">AMC</a>, and <a href="https://markets.businessinsider.com/news/stocks/bed-bath-and-beyond-stock-price-plummets-february-bankruptcy-2023-3">Bed Bath &amp; Beyond</a> that were popular during the 2021 short squeeze."Institutional investors look for ways to keep their pulse on the conversation among retail investors. What's more, institutional investors are likely to be retail investors in their personal lives and may find their retail research habits helpful in their professional roles," the report said.

Nearly 60% of institutional investors said they have used Reddit for investment decisions, survey shows

<ul><li>The 35% plunge in <keyword id="4513420" type="PERSON" weightage="60" keywordseo="ark-invest">Ark Invest</keyword>'s flagship ETF is being driven by institutional investors, according to a report from Vanda Research.</li><li>Retail traders are instead holding on, if not adding to their exposure of the high-growth focused ETF.</li><li>"In periods when ARK ETFs have seen large redemptions, retail investors have actually bought the dip," the report said.</li><li id="recirc"><a href="https://newsletter.businessinsider.com/join/4np/10-things-opening-bell?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest" target="_blank" rel="noopener">Sign up here for our daily newsletter, 10 Things Before the Opening Bell</a>.</li></ul>The recent plunge in Ark Invest's family of ETFs is being driven by institutional investors rather than retail participants, according to a report from Vanda Research.The <a href="https://markets.businessinsider.com/etfs/ark-innovation-etf-us00214q1040">ARK Disruptive Innovation ETF</a> has dropped <a href="https://markets.businessinsider.com/news/stocks/5-stocks-decline-cathie-woods-ark-invest-flagship-arkk-etf-2021-5-1030398156">by as much as 35% since its record February high</a> as fears of <a href="https://markets.businessinsider.com/news/stocks/cathie-wood-ark-innovation-etf-lowest-year-tech-stocks-2021-5-1030410825">rising inflation and higher interest rates</a> put a dent into the high-growth, technology focused investment portfolio. But retail investors are buying the dip in the ARK ETFs, while institutional investors are either selling or loading up on puts to hedge their exposure to the ETFs managed by Cathie Wood, according to the report."Blaming the demise of ARK ETFs on the fickle risk appetite of retail investors has been an easy way to explain price fluctuations since November," the report said.But of the $28 billion in fund inflows into the ARK ETFs, only $1.1 billion can be attributed to retail investors, according to Vanda Research. "In periods when ARK ETFs have seen large redemptions, retail investors have actually bought the dip, further highlighting the institutional-retail divide," the report said, pointing to data from retail brokerage firms like Robinhood and Fidelity.While retail investors are exhibiting a "diamond hands" mentality when it comes to ARK's family of ETFs, institutional investors have been closer aligned to "paper hands" <keyword id="6368158" type="UNKNOWN" weightage="60" keywordseo="trading">trading</keyword> based on the surge in bearish bets on a number of Wood's favorite <keyword id="6354298" type="DEFINITION" weightage="60" keywordseo="Stocks">stocks</keyword>. For example, short interest in <a href="https://markets.businessinsider.com/stocks/sklz-stock">Skillz</a> has skyrocketed to 60% of its entire float in recent weeks, according to the report."The put premium traded in ARKK constituents has also exceeded the call premium for the first time ever, which suggests that institutional investors are trying to crush extremely overvalued stocks," Vanda Research said.Until these bearish bets on ARK ETFs moderate, "The storm seems far from over," according to the report."Institutional investors are far more exposed to ARK than most pundits believe. As prices continue to drop, we will likely see more forced liquidations while institutional investors who are not exposed will probably hedge their equity downside by adding shorts or buying puts," the report concluded.<div type="image" title="ark invest chart.JPG" height="311" width="494" msid="82576711" hostid="261"></div>

The plunge in Ark Invest ETFs is being driven by institutions rather than day-traders, report says

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><a href="http://pictures.reuters.com/C.aspx?VP3=SearchResult&amp;VBID=2C0BXZ1Q36CGT&amp;SMLS=1&amp;RW=1440&amp;RH=718#/SearchResult&amp;VBID=2C0BXZ1Q36SNV&amp;SMLS=1&amp;RW=1440&amp;RH=718&amp;POPUPPN=25&amp;POPUPIID=2C0BF1FW8MSDI">REUTERS/Neil Hall</a>The 'March for Europe' demonstration against Britain's decision to leave the European Union, in central London, Britain July 2, 2016.</div></div></div>The future of a crucial source of <keyword id="6354868" type="COUNTRY" weightage="60" keywordseo="UK">UK</keyword> startup money hangs in the balance following the nation's decision to leave the European Union.That source is the relatively unknown European Investment Fund (EIF), which is an institution that was created by the EU in 1994 and operates out of Luxembourg with a team of around 400 people.The EIF, which has commercial banks and other financial entities among its shareholders, invested over €2.3 billion (£2 billion) in UK startups between 2011 and 2015, according to industry data <a href="https://www.ft.com/content/5a85be66-5d42-11e6-bb77-a121aa8abd95" target="_blank">cited by The Financial Times on Tuesday</a>. That reportedly accounts for over a third of all such investment.EIF capital finds its way to UK startups via a network of venture capital institutions that back fledgling technology companies that they think are destined for success with billions of pounds.The Financial Times reported that the EIF gave money to 144 UK-based venture capital companies or similar entities between 2011 and 2015. That makes it one of the largest, if not the biggest, investor in UK venture capital funds and growth-capital funds, according to Michael Collins, deputy chief executive of Invest Europe.Venture capital companies also receive funding from pension funds, insurance companies, and other institutional investors but these sources are less reliable and prone to shying away from startup investments during times of economic uncertainty, such as the 2008 financial crisis.The EIF has made at least one investment into a UK-based fund following the EU referendum but it's unknown whether these kinds of deals will continue given that it's only allowed to fund EU nations, members of the European Free Trade Association, and countries that could potentially join the EU.The closest thing to the EIF in the UK is the British Business Bank, which was formed by the coalition government in 2014.Alex Depledge, an entrepreneur-in-residence at Mayfair venture capital firm Index Ventures <a href="http://uk.businessinsider.com/heres-what-uk-tech-investors-are-saying-about-brexit-2016-7?r=DE&amp;IR=T" target="_blank">told Business Insider last month</a>: "Given EIF funds 85% of funds in London, the British Business Bank must step in or we will see a big decline in funding." <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/lenses-can-distort-appearance-photos-camera-science-focal-length-hitchcock-2016-8">How different camera lenses affect how you appear in photos</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="5xcWY0NTE67sqfmyYhKmTRRkNX5dO3dF" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

Brexit threatens to burn Britain's bridge with a vital EU institution that's invested billions into British startups

<ul class="summary-list"><li><keyword id="68968" type="ORGANIZATION" weightage="60" keywordseo="institutional-investors">Institutional investors</keyword> are returning to <keyword id="18712" type="ENTERTAINMENT" weightage="60" keywordseo="Gold">gold</keyword> as <keyword id="6354947" type="UNKNOWN" weightage="60" keywordseo="bitcoin">bitcoin</keyword>'s value tumbles, JPMorgan said.</li><li>JPMorgan said that this is a reversal of the pro-bitcoin sentiment of the last two quarters. </li><li>Bitcoin has been hailed as 'the new gold' by <keyword id="2721952" type="PERSON" weightage="60" keywordseo="crypto">crypto</keyword> fans as investors have piled into the market. </li></ul>Institutional investors are switching out of bitcoin and are instead returning to gold, for the first time in six months, JPMorgan research analysts said in a note on Tuesday. A combination of rising inflation, tightening regulation and ripples running through the online crypto community after Elon Musk announced that Tesla would no longer be accepting bitcoin as a form of payment for environmental reasons have caused bitcoin's price to tumble in recent weeks. Since hitting a record high of almost $65,000 in mid-April the asset has lost around half its value to last trade around $35,470 on Wednesday."The bitcoin flow picture continues to deteriorate and is pointing to continued retrenchment by institutional investors. Over the past month, bitcoin futures <keyword id="31671" type="CITY" weightage="100" keywordseo="markets">markets</keyword> experienced their steepest and more sustained liquidation since the bitcoin ascent started last October," JPMorgan said. Momentum traders including crypto funds that have unwound assets recently are partially responsible for this, according to the research note. A key momentum indicator has therefore turned negative from a short term perspective, which could lead to more traders selling off their assets. In the longer term however, the momentum indicator is still positive. "It is perhaps too early to characterize bitcoin as oversold," JPMorgan said, adding that bitcoin futures and related products had also been affected by the drop in value of the digital asset."What is striking is that the recent outflows from bitcoin funds have been accompanied by inflows into gold ETFs in a reversal of the last quarter of 2020 and the beginning of this year," the research note said, adding that a similar pattern can be observed with futures contracts on the two assets. Large parts of the crypto community have hailed bitcoin as the new gold, especially young investors who see it as a more worthwhile <keyword id="6355120" type="UNKNOWN" weightage="60" keywordseo="investment">investment</keyword> compared to bullion, which has earned bitcoin the nickname "millennial gold". The ongoing shift is mostly driven by institutional investors, JPMorgan said. From an institutional perspective, flows into bitcoin began to slow down during the first three months of this year and turned negative at the beginning of the second quarter. In comparison, retail flows have stayed relatively stable throughout. The reasons behind the shift are however unclear, although JPMorgan said bitcoin's volatility, especially the speed at which it tends to fall, was at odds with gold's greater price stability. "Or they perhaps view the current bitcoin price as too high relative to gold and thus do the opposite of what they did in the previous two quarters, i.e. they sell bitcoin and buy gold," the bank said.

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