Portfolio

New York-based American Independence Financial Services, LLC announced it will become principal portfolio manager for its Large Cap Value strategy, including the American Independence Stock Fund.

PIMCO is ramping up its alternative investment team with a trio of new hires from big-name hedge funds.

As the SEC toys with the possibility of imposing further regulations on money market funds, those close to the $2.6 trillion industry say the revisions are problematic, highly unnecessary, and could seriously undermine the successful operation and existence of the 40-year-old industry.

Trustmark Corp. in Jackson, Miss., announced Wednesday it is selling eight mutual funds with roughly $903 million of assets to Federated Investors of Pittsburgh and its subsidiaries.

PIMCO is ramping up its alternative investment team with a trio of new hires from big-name hedge funds.

As regulators and investors impose increasingly stringent transparency and reporting requirements, asset managers face new challenges in all aspects of data management.

On June 27, 2012, Federated Investors, Inc. has agreed to buy some $903 million in assets, including about $571 million in money market fund assets from Trustmark Investment Advisors, Inc., Trustmark National Bank and Performance Funds Trust.

On June 27, 2012, New York-based American Independence Financial Services, LLC today revealed that effective June 29, the RIA team led by Richard "Rick" Baird would become principal portfolio manager for its Large Cap Value strategy, including the American Independence Stock Fund.

The Dow Jones Industrial Average moved up 93.24 points Wednesday to close at 12,627.01 while the Nasdaq and S&P 500 picked up 21.26 points and 11.86 points, respectively.

Investors pulled an estimated $1.85 billion from U.S. equity funds the week ended June 20, almost three times the $620 million withdrawn a week earlier.