The New York-based hedge fund manager’s new public entity will be called has $11.5 billion in assets under management.
CFIG, a privately held European insurer, was downgraded today to A+ from its former AAA rating by Standards and Poor's.
The Greenwich Global Hedge Fund Index rebounded in February, jumping 2.21% after January’s drop of 2.79%.
The Fed announced it would lend $200 billion of Treasury securities to bond dealers, causing a stock market spike.
The U.S. trade deficit inched up in January, according to the Department of Commerce.
Charles Schwab is the most recent mutual fund company to introduce a lineup of funds designed to generate a targeted annual payout for retirees.
Estimated sales of book value annuities totaled $6.9 billion, while sales of indexed annuities totaled $6.3 billion.
Despite a sinking stock market, investment research firm Morningstar Inc. is mapping plans to increase its product lineup in 2008.
While mutual fund companies and brokers are enthusiastic about a proposal to simplify fund prospectuses, they object to the idea of filing quarterly performance and holding updates, according to comments filed late last month with the SEC.
The stock market downdraft may soon ignite consolidation among small mutual fund companies.
