The Board of Trustees of Natixis Funds Trust I has decided to liquidate the Absolute Asia Dynamic Equity Fund, according to a Securities and Exchange Commission
The fund, which bets on equity securities throughout Asia (excluding Japan), managed just $2.6 million as of Nov. 15. Bill Sung and Joyce Toh were the portfolio managers of the fund, which sports an expense ratio 175 basis points.
Year to date, it is down .72% versus a gain of 11% for the MSCI EAFE NR.
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Arbitration panels and courts have already shown openness to arguments that deferred compensation is protected under federal retirement law.
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AdvicePay has appointed Kelsey Lewis as president, overseeing the growth strategy for one of the top payment processing platforms for advisors.
The disturbing nature of the claims and puzzling sequence of events add a fraught layer to what was already going to be a challenging CEO handoff from the founder.
Sixteen advisors argue the megabank owes them more than $270 million over false promises they were made when being recruited.
