The Houston-based asset management firm’s earnings fell $596,000, after a net income of $2.6 million in the year-ago period.
An alleged Ponzi scheme ran for 12 years and defrauded 1,000 investors of $350 million.
The Hennessee Hedge Fund Index advanced 1.4% in February but remains down 1.2% for the first two months of the year.
The RBC CASH Index fell to a reading of 33.1 in March, marking the index's worst reading since January 2002.
Ambac will seek to raise capital through a $1 billion common stock offering, plus a $500 million public offering of equity units.
Modifications to SEC's privacy regulations would allow departing brokers to take customer contact information with them.
Republicans plan to introduce a bill that would make compliance with some provisions of Sarbanes-Oxley voluntary for banks.
The rate of home loans entering the foreclosure process was 0.83%, up from 0.54% a year ago.
Pay tax on such financial products, even though no payoff from such investments is assured, would unfairly limit trade of the financial products, according to the group.
Hedge fund assets grew by only 10% in the second half of the year, marking the smallest half-year increase since 2002.
