The $1.9 trillion hedge fund industry has gone on the defensive following a recent statement by Italian finance minister Giulio Tremonti, who suggested a move to abolish the alternative-class investments in Italy.
The Permal Group, a hedge fund group owned by Legg Mason Inc., plans to raise up to $500 million to purchase distressed hedge fund holdings.
The Municipal Securities Rulemaking Board has promoted two staff members to new roles and hired a new member to its senior management team.
In an effort to breathe life into the struggling economy, the Treasury Department will inject $250 billion into banks, while the FDIC took steps to help depositors.
The Reserve announced yesterday that the distribution from the liquidation of the Reserve Primary Fund would not happen within the time frame previously planned.
The latest data, released today by ForeclosureRadar.com, show the number of default notices filed against California homeowners plummeted 61.8% in September from August, and slipped 36.4% from a year ago.
Closed-end funds are trading at discounts not seen in more than a decade, giving savvy investors plenty of opportunity to snap up a portfolio of securities for less than what those investments are actually worth.
Target date funds were hammered in the third quarter and fared worse then the S&P 500 because of poor performance from international stocks.
The Charles Schwab Corp. short-term-bond fund that blew up this year because of its exposure to mortgage-backed securities is now costing the firm as a result of significant legal losses.
The Reserve Management Co. Inc. of New York announced yesterday the liquidation of 15 money market mutual funds.
A temporary ban on short selling the stock of more than 800 banks and related financial companies expired at midnight, much to the satisfaction of the hedge fund industry.
The ProShares UltraShort Financials (SKF), and ProShares Short Financials (SEF) exchange traded funds resumed the normal process of creating new shares today.
Moody's Investors Service announced yesterday that it has downgraded Legg Mason Inc.'s senior debt rating to A3, from A2.
In a sign that buyers are responding to low home prices and more affordable interest rates, the pending home sales index saw a 7.4% boost to 93.4 in August, according to the National Association of Realtors.
The Hartford Financial Services Group Inc. will participate in the Treasury’s money market mutual fund guaranty program on the heels of yesterday’s announcement that Fidelity Investments, The Vanguard Group and the T. Rowe Price Group will do the same.
Hedge funds are absorbing their share of the market woes, according to the latest performance data from Hennessee Group LLC in New York, which show a 6.2% decline for the alternative strategies in September.
Despite the credit turmoil this year, U.S. private-equity firms are on pace to exceed last year’s capital-raising totals, according to a new report.
FundQuest Inc. today announced a partnership with New Frontier Advisors LLC, a research and investment advisory firm, to offer exchange traded fund managed-account portfolios to financial advisers.
Two members of the team responsible for the success of the First Eagle Funds Group began running their own funds last week.
Launching a fund amid market turmoil may be a challenge, but one fund creator sees opportunity with a fund designed for the risk-averse.
