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Citi pays $968m to Fannie Mae

Cash

Citigroup has announced an agreement with Fannie Mae to resolve potential future repurchase claims for breaches of representations and warranties on 3.7 million residential first mortgage loans sold to Fannie Mae that were originated between 2000 and 2012 ('Covered Loans').

Hedge fund news

Hedge Fund

Investors in David Einhorn's Greenlight Capital Management's offshore gold fund were down 11.8% in June, bringing their year-to-date losses in the fund to 20%, two sources close to the matter said on Sunday.

'Unprecedented' $80bn pulled from bond funds

Departure

A record amount of money poured out of exchange-traded and mutual bond funds in June, according to a fresh report by TrimTabs, nearly double the amount pulled out of bond funds at the height of the financial crisis in October 2008.

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