- Money Management Executive
The fertile green funds market may sprout an index of its own. New York-based Nasdaq and Clean Edge, a clean technology consulting firm with offices in Oakland, Calif., and Portland, Ore., announced on Tuesday plans to launch a Clean Edge U.S. Index.
May 11 - Money Management Executive
Morgan Stanley has agreed to pay $15 million, which will settle allegations that the firm did not produce thousands of e-mails for the Securities and Exchange Commission's IPO and research analyst investigations, which occurred from 2000-2005, Reuters reports.
May 11 - Money Management Executive
Riding the boom on gold bullion exchange-traded funds, Van Eck is preparing to launch an ETF that would follow publicly traded gold mining companies, according to The Wall Street Journal.
May 10 - Money Management Executive
Driven by the adoption of U.S.-style real estate trusts abroad, weakness in the greenback and demand for international investment opportunities by big pension funds and endowments, American mutual fund companies are diving head first into the burgeoning international property sector.
May 10 - Money Management Executive
Janus Capital CEO Gary Black, has bought almost $1.5 million of the company's stock in the open market last Friday, the Associated Press reports. He purchased 75,000 shares at $19.75 a piece.
May 10 - Money Management Executive
Man Group's brokerage unit, Man Financial, and seven of its employees are being sued for fraud and racketeering, in an effort to recover assets lost by investors in a hedge fund that collapsed, Bloomberg reports.
May 10 - Money Management Executive
The push for interactive data for investors is moving toward mutual funds.
May 10 - Money Management Executive
Potomac Funds has changed its name to Direxion Funds, as part of a new strategic plan.
May 9 - Money Management Executive
Former Citigroup equity derivatives group Managing Director Ranesh Menon has opened his own company that will design and manage equity derivative funds, according to Derivatives Week.
May 9 - Money Management Executive
The Securities and Exchange Commission has issued a cease-and-desist order against Unified Fund Services, a transfer agency, fund administration and accounting firm, and its former vice president of fund accounting, Michael E. Durham. The firm has also been ordered to pay a $125,000 civil penalty.
May 9