Fidelity Investments has launched the IQ Alpha Hedge Strategy Fund.
The no-load, open-end fund, announced Monday, brings hedge fund-style investing to retail investors, Fidelity said. The investor class fund carries no transaction fee and is available through Fidelity with a minimum investment for first-time shareholders of $2,500. The institutional class has a minimum investment of $250,000.
The fund is managed by IndexIQ, a Rye Brook, N.Y., alternative investment manager.
Anthropic's new AI model can autonomously exploit software flaws, prompting urgent security meetings among U.S. and U.K. financial regulators.
Big-bank executives explained this week why they're still investing in their physical footprints, even as AI advances rapidly and financial technology firms wade deeper into the banking business.
Office of Management and Budget Director Russell Vought told the House Budget Committee Wednesday that the Community Development Financial Institutions Fund is still a target for elimination by the administration because it promotes "woke" ideology.
The topic of AI implementation came up on several big banks' first-quarter earnings calls. Morgan Stanley CEO Ted Pick said Wednesday that the firm views AI as a friend.
Brazil's real-time payment rail is adding PayPal as an option for small- to medium-size business payments; HSBC is launching a Hong Kong dollar-denominated stablecoin; Sezzle expands BNPL; and more in this week's global payment roundup.
A sharp decline in charge-offs, as well as lower volumes of criticized and nonaccrual loans, gave the Buffalo-based regional bank the confidence to operate with a smaller capital cushion.
