Lately, many frustrated preferred investors have searched for an opportunity to cash in on the subprime crisis and move on. Responding directly to investor woes, several closed-end fund companies like Nuveen Investments Inc. and Eaton Vance Corp. decided that they would be offering investors a chance to redeem their auction-rate preferred securities, The Wall Street Journal reports

 

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.