Delaware Management Holdings Inc. hired Fred Alger Management Inc. to manage part of its $900 million multimanager Optimum Large Cap Growth Fund (OILGX), beginning on Tuesday.
Jon A. Boscia has joined Sun Life as its president and will handle the company’s overall U.S. business, with the exception of Massachusetts Financial Services Co. He will oversee worldwide marketing.
As the stock market continues its pattern of record-level volatility, the hedge fund industry stands perplexed over a targeted ban on short selling that was supposed to help the markets find some equilibrium.
The Senate breathed new life into the government’s scuttled $700 billion bailout package this evening when it approved a modified version of the bill by a vote of 74 to 25.
Equity real estate investment trusts continue to outperform the broader market in today’s volatile environment.
“Putnam’s money market funds have maintained their $1 share price ... however the program is well worth the peace of mind we hope it provides investors,” Robert L. Reynolds, president and chief executive, said in a statement.
U.S. private-sector companies lost 8,000 jobs in September, far fewer than expected after 37,000 positions were shed in August, according to the monthly ADP National Employment Report released today.
Complying with a new rule known as Form SH, the first 1,700 money managers, mostly hedge funds, fell in line yesterday by filing their respective short positions with the Securities and Exchange Commission.
The ability of parents to save for their children’s college tuition has declined since last year, according to a study released today by Fidelity Investments of Boston.
Two days after the House rejected a $700 billion financial services bailout bill by a vote of 228 to 205, the Senate will be voting this evening on a slightly revised package in the hopes of pushing the controversial legislation forward.
