- Money Management Executive
Driehaus Capital Management has introduced an absolute-return mutual fund that will focus on the credit markets.
July 23 -
DST Systems reported second quarter profits of $48.7 million, a 2% dip from the $49.9 million it earned in the second quarter of 2008.
July 23 -
MFS Investment Management said it will add analysts, relationship management executives and salespeople to its staff, as a result of strong sales this year.
July 22 -
Say what you will about variable annuities; they returned about 6% or more for investors in 2008 when others saw 40% or more of their holdings wiped out, The Wall Street Journal reports. In fact, they were one of the best investments of the past decade, due to their minimum guarantees.
July 22 -
Direxion has launched two leveraged real estate exchange-traded funds, the Direxion Daily Real Estate Bull 3x Shares and the Direxion Daily Real Estate Bear 3x Shares. Both attempt to deliver 300% the daily long and inverse performance of the MSCI U.S. REIT Index.
July 22 -
PIMCO is trimming its exposure to the debt of financial services companies along with high-yield bonds, apparently believing a correction is in the wings.
July 22 -
BlackRock reported second quarter earnings of $218 million, a 20% decrease from the $274 million it earned a year ago. Revenue also fell, by 26%, to $1.03 billion.
July 21 - Money Management Executive
TD Ameritrade reported strong earnings of $171 million for the quarter ended June 30, its third fiscal quarter for 2009. Client trades averaged 392,000 a day, up 36%, and the firm attracted $7 billion of net new assets, a 12% annualized growth rate.
July 21 -
The board of directors of Freddie Mac has named Charles E. Haldeman, Jr. chief executive officer and a member of the board of directions. Until June 30, Haldeman was chairman of Putnam Investments, and previously president and CEO of the firm.
July 21 - Money Management Executive
As the Securities and Exchange Commission and state regulators Monday announced another settlement in their ongoing auction-rate securities probes, broker Charles Schwab fought back against related allegations brought by New York Attorney General Andrew Cuomo.
July 21