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President Bush proposed last Monday a $913 million budget for the Securities and Exchange Commission, one that would represent a 13% increase in available funds for the regulatory agency.
February 9 - Money Management Executive
The harsh reality for Putnam Investments is that the firm has bled assets at an alarming rate, had sub-par portfolio performance the last few years, and upset the trust of investors and business partners due to developments of unchecked market timing activity at the firm.
February 9 -
Another casualty was added to the growing list of mutual fund criminals last Tuesday as a New York bank executive was hauled off in handcuffs for allegedly arranging $1 billion in financing for illegal mutual fund trades.
February 9 -
The SEC's Dec. 11, 2003 proposal to end forward-pricing end runs around the 4 p.m. hard NAV close, has raised criticism from 401(k) plan sponsors, investors and administrators.
February 9 -
Fidelity Investments might soon lose $475 million in assets that it runs for the Massachusetts state pension fund, Fidelity confirmed last week.
February 9 -
Six financial services companies, including UBS AG and Wachovia Corp., have reportedly agreed to settle SEC allegations that their brokers failed to give promised mutual fund discounts.
February 9 -
U.S. Bancorp Asset Management last week indicated in an SEC filing it is cooperating with the SEC on an informal inquiry into trading activity in the First American Small Cap Growth Opportunities fund. Spokespeople for the company did not return phone calls seeking comment.
February 9 - Money Management Executive
Alliance Capital Management plans to overhaul its retail mutual fund business, a long-term initiative that may involve shrinking its fund lineup.
February 9 - Money Management Executive
Morningstar already raised eyebrows when it told investors to think twice about keeping their money with Putnam, Janus, Alliance and Strong. And now the leading fund research firm has gone even further out on a limb.
February 9 -