Amid shrinking assets and a flood of redemptions, mutual funds that were closed to new investors are rolling out the welcome mat again.
In an unprecedented move that some are comparing to gambling on the legal system, a $4.6 billion lawsuit is being packaged as the sole asset of a special-purpose company that is preparing an initial public stock offering.
The bull market in broker recruitment deals has peaked.
A panel that is charged with recommending changes to the ways money market mutual funds operate is being met with skepticism by money fund experts who worry that changes might be unnecessary.
Fortress Investment Group LLC has seen more than $4.5 billion in redemption requests from clients in the year ended Sept. 30, the giant hedge fund reported in its quarterly statement yesterday.
Consumer sentiments improved slightly in November, according to the Reuters/University of Michigan Consumer Sentiment Index.
The Reserve Management Co. Inc. said yesterday that it has begun the initial $4.5 billion distribution to shareholders of its U.S. Government Fund.
EMoney Advisor produces the eMoney 360 and 360Pro wealth- and goal-planning applications used by financial advisers, while Redtail provides a popular web-based client relationship management application intended for advisers.
The Hartford (Conn.) Financial Services Group Inc. today announced that it has applied to the Office of Thrift Supervision to become a savings and loan holding company.
Shareholders will receive an annual dividend of 58 cents per share of common stock Dec. 19, down by about 50% from the dividend paid out in 2007.
