Funds

Norway’s wealth fund decided to invest in people

After focusing on industries such as coal and weapons, Norway’s $1-trillion sovereign wealth fund is turning its attention to fashion.

Together with UNICEF, the world’s biggest wealth fund is setting up a network with some of the top fashion companies to improve children’s rights, whether they are exploited in the production of garments and shoes or impacted by the industry in other ways.

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The first marijuana ETF reallu US-based is coming just in time for Christmas

In 2012, Washington and Colorado became the first states to legalize recreational marijuana use. By 2020, it’s expected that marijuana will grow to a $21 billion a year industry.

ETF investors who have been clamoring for a good way to get in on the cannabis trend have largely been unserved. There’s the recently launched Horizons Marijuana Life Sciences ETF (HMMJ) but that only trades on the Toronto Stock Exchange. That’s about to change as the ETFMG Alternative Agroscience ETF is scheduled to begin trading later in December.

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Credit Suisse targeted by activist hedge fund

Activist investor RBR Capital Advisors, supported by Gaël de Boissard, a former Credit Suisse investment bank co-head on Tuesday confirmed it has built a position in Credit Suisse and has been talking with the Swiss bank’s management. RBR Capital Advisors will reveal its plan later in the week at a conference in New York, the Financial Times reported.

According to the report, the plan will offer the argument for a three-way split of Credit Suisse into an investment bank, an asset management group and a wealth manager accommodating the Switzerland-based bank’s retail and business banking operations.

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