A $989 million loss by a Goldman Sachs fund year-to-date through September offers more proof that in the hedge fund space, the bigger they are, the harder they fall.
UBS AG reported today a third-quarter net profit of 296 million Swiss francs ($252 million) after losing 858 million francs in the year-ago period.
Actively managed mutual funds are facing more pressure for market share from exchange traded funds, separately managed accounts, structured notes and 130/30 funds, according to a study released today by Financial Research Corp.
The Hartford (Conn.) Financial Services Group Inc. has announced that it will lay off 500 employees — about 1.6% of its total work force — this month, citing falling revenue and investment losses.
Suppose one of your clients received a large amount of stock in the New York-based Metropolitan Life Insurance Co. when MetLife converted from mutual to public ownership in 2000.
The total payout for 2009 reflects a dividend interest rate of 7.6% on new eligible participating life insurance policies.
The manufacturing industry slumped for the second consecutive month in October as the economy continued to feel the pull of the credit crisis, according to a report by the Institute for Supply Management.
Kohlberg Kravis Roberts & Co. LP, a 32-year-old private-equity firm, is delaying plans to become a public company, due largely to the credit crisis, which has cut the value of its investments.
The European Commission today said that the European Union countries probably are in the midst of a recession and that the outlook for 2009 growth is dim.
The Hartford (Conn.) Financial Services Group Inc. today reassured the public that it indeed has sufficient capital — though it is lower than previously forecasted.
