- Money Management Executive
The Arbitrage Fund, a four-star Morningstar-rated mutual fund that invests in merger arbitrage situations , has reopened to the public amid a flurry of merger deals hitting the market.
February 10 - Money Management Executive
Bank of America will pay $515 million in fines and reduce fees by $160 million to settle a pair of market-timing cases, the Securities and Exchange Commission announced Wednesday.
February 10 - Money Management Executive
A former Citigroup executive who oversaw its mutual fund unit is fighting Securities and Exchange Commission allegations that he acted improperly.
February 9 - Money Management Executive
Retirement specialists say that the Bush Administration is planning several changes to strengthen the 401(k) system for workers looking to save for retirement, according to Defined Contribution News.
February 9 - Money Management Executive
As the SEC nears a $675 million market-timing settlement with Bank of America, possibly this week, federal regulators are expected to charge two former executives at Columbia Management, the mutual fund arm of BoA, with permitting preferred customers to engage in abusive trading practices, the Boston Globe reports.
February 9 - Money Management Executive
Owing to an indemnity letter it provided to its U.S. broker, London-based hedge fund manager Headstart Asset Management may have to pay up for losses caused to U.S. mutual fund shareholders resulting from nearly $2 billion of market timing trades, according to Financial News.
February 9 - Money Management Executive
Canada's mutual fund self-regulatory body, the Mutual Fund Dealers Association (MFDA), is investigating if sales agents at certain firms, including Manulife Securities International Ltd. and the Berkshire Group of Companies, sent clients to Portus Alternative Asset Management Inc., a hedge fund under scrutiny by Canadian regulators, according to The Globe and Mail.
February 8 - Money Management Executive
Disclosure is the order of the day. The Securities and Exchange Commission is putting in place a rule requiring mutual fund companies to start disclosing how they structure portfolio managers' compensation and to indicate managers' investments in the funds they oversee, The Wall Street Journal reports.
February 8 - Money Management Executive
In news that surprised even the most astute investment business insiders, the Boston-based mutual fund company Eaton Vance has been crowned the No. 1 publicly traded stock in the last 25 years.
February 8 - Money Management Executive
The whistleblower who helped take down Putnam Investments has resurfaced, having secured a job with the securities regulator who first charged the mutual fund company with fraud for ripping off investors, according to The Boston Globe.
February 8