The hits just keep on coming.

PIMCO last Thursday became the latest mutual fund company to be slapped with civil fraud charges for allegedly defrauding investors by secretly allowing hedge fund Canary Capital Partners to trade rapidly in and out of its funds. The Securities and Exchange Commission alleges that from February 2002 to April 2003, Canary engaged in roughly 108 improper trades worth more than $4 billion in several PIMCO funds.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.