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How to Foil 5 Common Bank Fees From Draining Your Funds

How to Foil 5 Common Bank Fees From Draining Your Funds

Finance
Shutterstock photoSavings and checking account fees - sometimes tucked away in the depths of a website's fine print - often crop up on our bank statements when we least expect them. But leave them unchecked and they can cost you several hundred dollars a year in extreme cases.Knowing how and when banks or credit unions can charge fees is the first step to avoiding them. Here are five of the most common bank fees that can drain your funds:1. Minimum balance or monthly feesMany financial institutions charge for simply maintaining an open checking or savings account. The good news is that most accounts provide a way to avoid the charge if you meet specific criteria, such as linking direct deposits or maintaining a balance over a certain dollar amount.But even tha...
Canada Pension Funds may drive in Rs 4000 crore to India

Canada Pension Funds may drive in Rs 4000 crore to India

Finance
Canada-based pension funds PSP Investments and Ontario Teachers’ Pension Plan (OTPP) are in talks to invest Rs 4,000 crore in an investment platform co-promoted by the government of India-sponsored National Investment and Infrastructure Fund (NIIF), persons directly familiar with the matter said. The funds could invest in a special purpose vehicle (SPV) floated by NIIF to fund toll and annuitybased road projects, they said. The three parties are currently negotiating the structure of the partnership, which could entail the creation of a supervisory board in which the funds will have representation. The board will monitor investments made by the SPV. NIIF may invest a similar amount of money in the SPV to acquire a proportionate equity holding in the investment platform or may rope in ot
Some closed funds are ready to open for business again

Some closed funds are ready to open for business again

Finance
Managers of actively run funds can't seem to get a break these days, and that includes closed ones.With the rise of passive investing, their business model and sales pitch for active management have come under seemingly constant attack. The latest domino: funds that had previously been closed to new investors. These funds — often run by prominent managers — have seen outflows on par with open active funds. It's leading them to reopen their gates once again. For some out there, this gives an opportunity to buy.In a closed fund, the managers have decided not to accept new investors. This typically means that the popularity of a manager or a fund grew due to outstanding performance, leading investors to clamor. Once the assets under management become too large, the managers can't safely deplo
Govt funds controversial facial recognition tech

Govt funds controversial facial recognition tech

Technology
The Home Office plans to invest more in facial recognition technology for the police despite warnings that it could be illegal and concerns over surveillance.A number of police forces already use the technology to automatically identify people from social media images and CCTV recordings.Its use has been controversial in live-settings where people who are not suspected of any crimes could be checked against a police database and potentially arrested if the system delivers a false positive.Police have argued that the technology is accurate 95% of the time but critics have noted that this means for every 1,000 faces it scans there will be 50 incorrect matches.The technology, which works by creating a geometric profile of individuals' faces and comparing that profile against a database of oth...
The Buffett Challenge — hedge funds vs. index funds — 9 years on

The Buffett Challenge — hedge funds vs. index funds — 9 years on

Finance
Nearly 10 years ago Berkshire Hathaway CEO (and arguably one of the best investors on Earth), Warren Buffett, issued a challenge to the hedge fund industry — a $ 1 million bet that they could not put together a portfolio of hedge funds that would outperform an S&P 500 Index fund over a 10-year period.Buffett was convinced the combination of active stock-picking and high costs would result in lagging market performance, and he was willing to put his money where his mouth was.One company stepped up to the challenge. Protégé Partners LLC selected five hedge funds (the names of the funds have not been disclosed publicly), and Buffett selected the Vanguard Admiral Shares S&P 500 Index Fund.The 10-year period began January 1, 2008, which means we are in the final year of the challenge. W