Headstart Advisers and its chief investment adviser, Najy N. Nasser, reaped $198 million in illicit profits, the SEC alleges.
Invesco PowerShares Capital Management also has launched an actively managed fixed-income ETF.
Zurich Financial Services announced that it is cutting 400 jobs at its North American business insurance unit.
Baillie Gifford Overseas will be added as an adviser to its $6.9 billion Global Equity Fund and the $980 million Growth Equity Fund.
Less than 20% of American workers feel confident that they will be able to afford a comfortable retirement .
Lord Abbett has lowered the front-end sales charge on three of its short-term, fixed-income mutual funds to 2.25%, from 3.25%.
Jerry Bailey, former senior advisory director at Bear Stearns Merchant Bank, is joining Halcyon Asset Management.
The average asset-weighted expense ratio for mutual funds in 2007 was 0.90%, remaining flat from the previous year.
The Association for Advanced Life Underwriting has created a political action committee, the organization announced.
Despite the recent turmoil throughout the financial markets, the hedge fund industry appears to be alive and well, according to the latest calculations showing that the number of funds grew by 14.5% last year, but some say the data may be suspect.
The Hennessee Hedge Fund Index declined 1.9% last month and is off 3.5% year-to-date through March 31.
Having watched the as-sets under management in the <b>Henderson International Opportunities Fund</b> (HFOAX) double to $3.9 billion over the past year, manager Iain Clark is satisfied that the portfolio was positioned in advance to handle the flood of inflows.
If U.S. mutual funds are going to compete effectively in the international marketplace, a new global fund model needs to be created, according to the fund industry's leading trade group.
SEC commissioner Paul S. Atkins is continuing his campaign for a "new-product czar" to shepherd products through the agency's Byzantine approval process.
The Managed Funds Association has announced a collaborative partnership with the London's Alternative Investment Management Association.
CEO Martin Sullivan's pay package was sliced by one-third after AIG reported a 56% drop in annual profit in its 2007 net.
“I wouldn’t invest in U.S. assets today, but I would buy U.S. paper,” said Sam Zell, chairman of several REITS.
Among 18 mutual fund companies studied, the average firm posted an pre-tax profit margin of 33%.
“This is probably one of the most exciting times [for REITs],” said Marty Cohen, co-chairman and co-CEO of Cohen & Steers.
Pimco RealRetirement Funds is meant to help retirees stay ahead of inflation by maximizing their purchasing power.
