Liberty Financial Companies and Societe Generale Asset Management have called off Liberty Financial's planned $216 million purchase of the adviser to the SoGen Funds because of declining assets in SoGen funds. Liberty said that SoGen had failed to meet minimum asset requirements for the deal to occur. The SoGen funds, with approximately $3 billion in assets, lost roughly 25 percent of their assets in the last six months of 1998, according to Financial Research Corp., a fund tracking firm in Boston. SoGen's four funds had total net redemptions of approximately $1 billion from July 1 through Dec. 31, according to FRC.
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The Wall Street giant has been moving away from providing in-house retail investment advice to finding ways it can support smaller firms.
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The Internal Revenue Service and the Treasury Department released final regulations on the transfer of clean energy manufacturing, investment and production tax credits, with specific rules for partnerships and S corporations.
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Here's how commenters such as the AARP, SIFMA, FSI, the Consumer Federation, NAPFA, the CFP Board and others view the Department of Labor's retirement advice regulation.
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A recent experiment tested different generative AI models against each other on the CPA Exam and found they each have their own strengths and weaknesses.
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Last year, almost $1 trillion flooded into money market funds. Here are the 20 that have grown the biggest.
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