- Money Management Executive
More fund companies are going to be entangled in the investigation into kickbacks from fund administrators to mutual fund companies, MarketWatch columnist Chuck Jaffe predicts. This will rile the investing public further and tarnish more reputations, he says.
January 3 - Money Management Executive
Concerned that investment banks looking to curry trading and prime brokerage business with hedge funds are renting out office space to them at a discount, regulators are beginning to take a close look at so-called “hedge fund hotels,” according to numerous reports.
January 3 - Money Management Executive
Evergreen Investments announced that it agreed to pay a $4.2 million civil penalty to the NASD over directed-brokerage practices by its broker/dealer distributor. At question, in such practices, is the acceptance of trades from mutual fund complexes, such as Evergreen, in exchange for promoting their funds, without revealing the practice to investors.
January 3 - Money Management Executive
Four “ultra” ProFunds exchange-traded funds, which aim to produce 200% of their stock benchmarks, paid out capital gains distributions of $3.80 to $6.80 a share last week, The Wall Street Journal reports.
January 2 - Money Management Executive
One of Boston ’s most recognizable landmarks, the John Hancock Tower , was sold to Broadway Real Estate Partners, a New York real estate firm, as part of a $3.3 billion deal for a package of buildings in four cities.
January 2 - Money Management Executive
The New York Stock Exchange and Nasdaq remain closed today, in honor of the funeral of former U.S. President Gerald R. Ford, who died last Tuesday at his home in Rancho Mirage, Calif. The New York Mercantile Exchange will be open for electronic trading only.
January 2 - Money Management Executive
The booming stock markets of the past few years made it difficult for investors to be losers, according to Wall Street Journal. Of 62 categories of stock-focused mutual funds tracked by Lipper, 51 categories had double-digit returns for the year through Wednesday. An investor who invested $10,000 in U.S. diversified stock funds at the end of the last year was richer by about $873 on average, as compared to $687 in the year-earlier period.
January 2 - Money Management Executive
If the government wants the poor to progress, it should establish a 401(k)-like tax-deferred savings and matching program, according to Tyler Cowen, a professor of economics at George Mason University in Virginia .
January 2 - Money Management Executive
New York-based Marsh & McLennan has agreed to sell its beleaguered Putnam Investments business to Power Corp., a Canadian financial services firm based in Montreal , according to the Wall Street Journal.
January 2 - Money Management Executive
Four “ultra” ProFunds exchange-traded funds, which aim to produce 200% of their stock benchmarks, paid out capital gains distributions of $3.80 to $6.80 a share last week, The Wall Street Journal reports.
December 29