Portfolio

After failing to redeem $580 million of the shares of three of its tax-free closed-end funds, Eaton Vance has successfully obtained private financing for the preferred shares in question.

In a lawsuit stunning for giving renewed life to the revenue-sharing scandals and for extending the period certain through 2006, Wells Fargo has been hit with a class-action lawsuit for allegedly sharing mutual fund revenue with brokers and other selling agents, without informing shareholders and through excessively high fees.

fund flows

While hedge fund activity in commodities is contributing to the surge of oil to record highs, long-term, fundamental supply constraints are the main culprit.

Senate Democrats in Connecticut are pushing for a state-sponsored 401(k) retirement plan for small businesses, designed for employers who can’t afford to offer a retirement plan to their workers.

‘Bond Broadside’ Includes Two Worst-Performers, Down -73% & -70%

A number of news events in the past week alone indicate without question the U.S. economy is at a dangerous inflection point, but so far, no one-no economist, analyst, fund manager, regulator, legistator, president or CEO-is willing to put together the pieces to talk about something other than snapshot first-quarter, year-over-year or historical trendline data that make a case for the return of the markets.

John Paulson, founder of the hedge fund Paulson & Company, made an unprecedented $3.7 billion last year by betting against subprime mortgages and the financial products that held them.

Envestnet Snags Ibbotson's Henkel for Retirement Group

State Street Corp.'s top executive said that the Boston company plans to focus on adding customers, developing business and products through its investment management arm, and expanding internationally, and that he remains cautiously optimistic for growth the rest of this year.