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While the Dow Jones Industrial Average soared 391.47 points on Tuesday and many investment banks' stocks rocketed in the mid-double digits on the good news of infusion of capital from shareholders, Lipper preliminary data on mutual fund results for the first quarter of the year was disappointing, The Wall Street Journal reports this morning.
April 2 -
The Investment Company Institute said it welcomes Treasury Secretary Henry Paulsons plan to overhaul the financial systems regulation apparatus.
March 31 -
Pax World Management Corp. has launched three new mutual funds focused on environmental and international concerns. The funds are Pax World Global Green Fund, Pax World Small Cap Fund, and Pax World International Fund.
March 31 -
NEW YORK-FTSE has partnered with Conflict Securities Advisory Group, a risk measurement firm based in Washington, D.C., that has been focusing on Iran, North Korea, Sudan and Syria since just before the terrorist attacks in 2001, through the new FTSE CSAG Terror-Free Index Series.
March 31 -
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Charles Schwab Corp. of San Francisco is facing a potential class-action lawsuit over no-load ultra short bond fund that allegedly loaded up on mortgage-backed securities and misled investors.
March 31 -
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Eliot Spitzer, onetime Wall Street crusader, New York State Attorney General and New York Governor in a first term that ended with his abrupt resignation on March 17, may be forced to release thousands of incriminating e-mails linked to his alleged smear campaign against Senate Majority Leader Joseph L. Bruno.
March 31 -
BOSTON-The worldwide, far-reaching ramifications of questionable subprime mortgages in the United States should have been foreseen and could have been prevented, separately managed account and mutual fund executives concurred at the Money Management Institute's annual conference here earlier this month.
March 31