The board of trustees of BoAs Nations Funds by the end of next month will be firing Invesco Funds and Putnam Investments as sub-advisors on the Nations International Equity Fund, Money Management Executive reports in this weeks hard-copy edition.
Judging from these recent actions, industry insiders say that even scandal-plagued funds are calling the kettle black, by firing other fund complexes with ongoing problems in the mutual fund mess.
If it is true that politics makes strange belfellows, then financial service scandals make for even more curious divorces. Take, for example, the fact that the Nations International Equity Fund which has just jettisoned Putnam and Invesco, was one of the four original mutual funds named in Spitzers Sept. 3 complaint against Canary.
Read all about it in this weeks issue of MME.