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.
“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.
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 $2 trillion hedge fund industry could be forced to unwind and liquidate major positions in an effort to meet what is expected to be above-average levels of investor redemption requests.
Equity real estate investment trusts continue to outperform the broader market in today’s volatile environment.
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 S&P/Case-Shiller 20-City Composite Home Price Index, which tracks home values in 20 major U.S. cities, tumbled 16.3% in July from the same month a year earlier.
One week after buying a 21% stake in Morgan Stanley, Mitsubishi UFJ Financial Group Inc. took a $506 million paper loss as a result of the extreme drop in the markets following Congress’ rejection of a $700 billion bailout package yesterday, according to Bloomberg.
Reserve Management Co. Inc of New York said yesterday that its board has voted to liquidate the $20 billion in assets of the Primary Fund (RPRXX), which will be distributed on Oct. 13.
Stock and bond mutual funds experienced a net inflow of $401 million in August, representing a turnaround from last year at the same time when the funds experienced a net outflow of $1.1 billion.
The Calvert Group Ltd. is looking to broaden its market and expand socially conscious investment policies with a new series of funds.
Investors trained to believe that exchange traded funds don't trade at premiums or discounts to their net asset value might be in for a surprise.
Companies that sell equity index annuities are preparing to take the Securities and Exchange Commission to court if the agency finalizes its proposal to regulate the products as securities.
Investors who maintain self-directed 401(k) accounts or individual retirement accounts are increasing their investments in exchange traded funds.
The departure last week of Kevin Cronin as head of investments at Putnam Investments is a sign of more change to come at the beleaguered mutual fund company, some observers say.
In times like these, when the equity markets swing wildly and just about everything can look cheap from certain angles, the focus on value has to be especially precise.
Some mutual fund companies are deciding that the cash their funds earn from lending stocks doesn't justify the risk in light of unpredictable markets and the Securities and Exchange Commission's crackdown on short sales of selected financial stocks.
Ameriprise Financial Inc. has no immediate plans to bail out clients of advisers of its independent broker-dealer subsidiary, Securities America Inc., which saw $60 million erased last week when a giant money market fund, the Reserve Primary Fund, “broke the buck."
Despite the volatility of the markets in recent weeks, nearly a third of financial intermediaries are choosing to invest more in equity funds, according to a new survey.
