Absolute Return magazine reports that only 35 new hedge funds have been launched in the first half of this year, down markedly from 72 funds in the first half of 2007. But this year, those new funds have raised $19.5 billion, up 39% in total assets under management at the outset from the $14 billion the new funds raised last year.
In fact, five of the 35 new funds this year amassed more than $1 billion. The most successful is the GS Investment Partners long/short fund from
An industry recruiter said the Bank of America subsidiary has become almost "unhinged" with the amount of money it's willing to offer advisors it's recruiting.
After a decade-long effort by holders of the personal financial specialist credential, aspiring candidates can be tested on investments, retirement plans and other areas.
During first-quarter earnings calls, top executives of mega firms like Goldman Sachs, Morgan Stanley and Citigroup talked about how they're testing AI and high-tech tools.
Experts from the Fed, Intuit and the Urban-Brookings Tax Policy Center explored ideas for more effective ways to advance the goals of the mortgage interest deduction.
Romantic partners usually agree on their broad retirement goals, a new Ameriprise study shows. But the consensus breaks down over smaller questions.
The Providence, Rhode Island, company is having discussions with private wealth management teams elsewhere as it seeks to expand its fledgling private bank. In just three months, private banking deposits doubled to $2.4 billion.
