Special Program Root Tag

CHICAGO - Although relief and rebuilding legislation related to Hurricane Katrina dominates Washington's near-term agenda, U.S. Rep. Jerry Weller (R-Ill.) said, growing the economy remains a long-term priority for lawmakers.

We are in the midst of hedge fund scandal; the most recent example would be the crumbling of Bayou Group, the Connecticut-based hedge fund with $400 million under management that is currently under investigation for fraud.

It's the old "good news, bad news" scenario when it comes to dealing with escalating interest rates. Investors have two choices and pros and cons come with both, according to TheStreet.com.

While the Pennsylvania State Employees' Retirement System decided to stick a toe in the hedge-fund waters in 1999, CIO Peter Gilbert had been championing the cause for two years prior. There were only a handful of institutions in the large private capital pools, which were controlled by the wealthy at the time, according to BusinessWeek Online

The two dangers an investor faces is the way one calculates fund returns and who earned them

According to an article in Reuters, a lawyer from the NASD, announced on Wednesday that the NASD is going to work harder to identify solicitation of hedge funds to retail investors.

Actively managed exchange-traded funds that seek to continue to give similar benefits as a traditional ETF are in the works, according to Dow Jones.

Dan S. Ahrens, 39, the omnipresent manager of the successful $48 million Vice Fund, which invests in so-called "sin stocks" has abruptly bolted from his job as sole portfolio manager, and president and treasurer, of the fund's Dallas-based investment adviser, Mutual Advisors. He has also been managing a second, smaller fund for the firm.

By many accounts, XBRL technology will be the must-have financial reporting technology of the future. But if that prognostication is true, it's still news to many firms that offer public securities and file financial reports. It's even more remote to companies that advise public mutual funds, despite the urging of regulators to dive into XBRL filings.

The surprising persistence of fraud within the financial services industry - most recently underscored by the $100 million authorities said is missing from the Connecticut hedge fund manager Bayou Management - is causing a new operational demand among many firms. And it's not just for forensic accountants, but also for full-fledged private investigators.

In a time when nothing is moving and the inertia of opposing forces has left the markets relatively stagnant, patience is a virtue.

With the nation's attention now focused on rebuilding New Orleans and other Gulf Coast cities devastated by Hurricane Katrina, common sense would say that a pair of key mutual fund industry issues that were front-burner topics before Congress broke for the summer won't get much attention now that lawmakers are back to work.

NEW YORK - With the sharp increase in oil prices, industry observers have expressed conflicting views over whether the alternative energy sector might harbor some prudent and rather profitable choices for investment managers and their clients.

Oppenheimer Funds and its subsidiary, OppenheimerFunds Distributor has settled a revenue-sharing proceeding with the Securities and Exchange Commission without further penalty.

Banc of America Securities Appoints Ann Short COO

What's good for an IRA is good for a 401(k).

In the first five years of this decade, assets in equity exchange-traded funds (ETFs) increased by a factor of six, easily topping $200 billion. Over that period, assets in index-tracking equity mutual funds increased by about 29%. And actively managed equity funds? They grew their asset base by just 6%.

Oppenheimer Funds and its subsidiary, OppenheimerFunds Distributor has settled a revenue-sharing proceeding wit the Securities and Exchange Commission without further penalty.

Lehman Brothers announced a 77% increase in third-quarter profit. The increase can be attributed to record returns in its investment banking and investment management divisions, as well as strong international results, officials said.

Investors are not loyal when it comes to their mutual funds, according to Forbes. They'll abandon a poor performer in favor of the newcomer with impressive credentials. But based on research from Yale University Professor Owen Lamont and the University of Chicago's Andrea Frazzini, it is likely that a new fund's positive returns may go South after six months.