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Following the sharp market downturn last year and steep investor redemption, Legg Mason is about to overhaul its entire mutual fund lineup of 142 funds, Matthew Schiffman, head of product and marketing at Legg Mason told The Baltimore Sun. And its no wonder, since Schiffman accepted the new position at Legg Mason in November, with the goal of creating a product innovation team.
January 26 -
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BlackRock reported an 84% decline in fourth-quarter income, to $53 million, and full-year 2008 net income of $786 million, a 21% decline. Assets under management only declined negligibly, however, by 3.7% to $1.3 trillion.
January 26 -
Fidelity, Franklin, Legg Mason Suffer Largest Redemptions in 2008
January 26 -
If money managers want to invest in this highly volatile, largely negative financial environment, they must change the way they invest.
January 26 -
Mistakes, bad luck and unexpected events can happen to any firm during good times and bad, but tackling misfortune in a forthright, brutally honest manner rather than trying to sidestep unpleasant truths can mean the difference between a small crisis and a full-blown public relations nightmare.
January 26 -
Fair value reporting seemed anything but fair last October when prices fell off a cliff.
January 26 -
Investors overwhelmingly believe that environmental issues offer tremendous long-term investing opportunities, Allianz Global Investors found in a survey of 1,264 adults with household financial assets of at least $100,000 in December.
January 26 -
In light of the recent market downturn and the difficult position that has left millions of near-retirees, Charles Schwab has launched a new suite of advice and tools specifically geared to investors within 10 years of retirement, called Real Life Retirement Services. Built as a type of social network, the accompanying website gives investors a place to ask questions and share their own experiences, including a survey that shows them how their retirement expectations compare with their peers.
January 26