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Guggenheim attracts broad fixed income fund inflows in February


NEW YORK Guggenheim Investments attracted net inflows of more than $1.5 billion into its fixed-income mutual funds and ETFs in February, the firm said on Wednesday. Guggenheim has had positive net flows in its fixed-income mutual funds for 38 of the last 39 months under global chief investment officer Scott Minerd. Guggenheim's flagship Total Return Bond Fund, an intermediate-term fund that has outperformed 99 percent of its rivals over three and five years, according to Morningstar, took in $665 million in February, the firm said. The $5.2 billion fund has experienced net inflows for 38 consecutive months, Guggenheim added.

Meanwhile, the Guggenheim Macro Opportunities Fund, a $4.6 billion nontraditional bond fund that has also outperformed 99 percent of its rivals over five years, took in $300 million in February, the firm said. Guggenheim Floating Rate Strategies Fund, a bank loan fund that has outperformed 97 percent of peers over five years, took in $162 million in February.

Guggenheim Limited Duration Fund, a short-term bond fund, experienced its 39th consecutive month of net inflows since its December 2013 inception. It has outperformed 99 percent of funds in its Morningstar category over three years.

Guggenheim said its BulletShares suite of defined maturity ETFs had $290 million in net flows in February, which helped the firm reach an all-time high with $34 billion in ETF assets under management.

Murdochs Fox set to request EU approval for Sky takeover bid


LONDON Rupert Murdoch's Twenty-First Century Fox (FOXA. O) will seek approval from the European Commission for its $14.4 billion bid for European pay-TV firm Sky (SKYB. L) in the coming days, a person familiar with the matter said. The source, who declined to be named because the decision is not final, said Fox could notify the Commission on Friday or early next week in a move that will also trigger a short review by the British government. Murdoch's bid to buy the rest of the British company it does not already own is likely to be a politically charged process. The Murdoch family have never wavered in their ambition to take full control of Sky, despite the damaging failure of a previous attempt around 5-1/2 years ago when their British newspaper business became embroiled in a phone-hacking scandal. In December they returned to the fray, striking a deal with Sky's independent shareholders for Fox to pay 10.75 pounds per share for the 61 percent of Sky it does not already own to unite a media empire across two continents.

Notifying the European Commission will also give Britain's Department of Media 10 working days to decide whether the bid should be examined by UK media regulator Ofcom to see if it would damage media plurality. Analysts and lawyers expect the bid to be referred to Ofcom. The European Commission will examine the potential impact on competition.

Rupert's son James, chief executive of Fox, has said he expects the deal to pass "regulatory muster" and, as long as regulators looked at the facts around media ownership, no "meaningful concessions" would be required. Some politicians have called for the deal to be blocked, although analysts and lawyers believe it will be approved eventually.

Fox and Sky both declined to comment.