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.
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.
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.
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.
“Domestic equity has the highest predictability of earnings, and the lowest volatility. No other country comes close to the U.S. in terms of aggressiveness in monetary policy.”
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.
Thirteen banking and insurance executives have been selected to join the Washington-based trade association’s board.
Under the agreement, the Putnam fund purchased shares in Federated fund with cash and portfolio securities valued at $12.3 billion, said Putnam spokeswoman Laura McNamara.
The head of Lancer Management Group LLC and Lancer Management Group II LLC has been found guilty of overstating the hedge funds’ valuations, manipulating the prices of seven securities and falsely representing the funds’ holdings in newsletters.
The Securities and Exchange Commission has ordered more than two dozen hedge funds to turn over trading records and e-mail communications made between Sept. 1-19, The Wall Street Journal reported today.
Sales of existing homes fell to a seasonally adjusted rate of 4.91 million units in August, down 2.2% from July and 10.7% from a year ago, according to the National Association of Realtors of Chicago.
Second-quarter variable annuity sales fell to $41.9 billion, down 11.2% from the comparable period last year, according to NAVA Inc.
Third Avenue Institutional International Value Fund LP, a fund of Third Avenue Management LLC, filed a class action Friday against Reserve Management Corp. hinging on the firm's redemption process last week, when the net asset value of the Reserve Primary Fund fell to 97 cents.
Kohlberg Kravis Roberts posted a total investment loss of $1.1 billion for the six months ended June 30, down from a net gain of $3.4 billion in the first half of 2007, according to a prospectus filed with the SEC.
