Prudential Financial Inc. yesterday pre-released third quarter results for its financial services businesses, warning investors of large investment losses.
Moody's Investors Service announced yesterday that it has downgraded Legg Mason Inc.'s senior debt rating to A3, from A2.
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.
MetLife Inc. of New York recently approached Hartford (Conn.) Financial Services Group Inc. about a merger, insiders told The Wall Street Journal.
The Reserve Management Co. Inc. of New York announced yesterday the liquidation of 15 money market mutual funds.
The ProShares UltraShort Financials (SKF), and ProShares Short Financials (SEF) exchange traded funds resumed the normal process of creating new shares today.
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.
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.
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.
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.
Under the terms of the binding agreement, Allianz will purchase, at $31 per share, $750 million in preferred shares convertible to common stock.
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.
Bank revenue from the sale of annuities rose 39.6% in the first half to $1.3 billion, from $935.9 million in the first half of 2007, according to a report released today by bank insurance consulting firm Michael White Associates LLC of Radnor, Pa.
Two members of the team responsible for the success of the First Eagle Funds Group began running their own funds last week.
Robert L. Reynolds, Putnam Investments' recently installed chief executive, has received high marks for decisive action to protect investors in an institutional money market fund awash in redemptions, but clients say they need more data points to judge his longer-term prospects for rebuilding the once highflying firm.
Launching a fund amid market turmoil may be a challenge, but one fund creator sees opportunity with a fund designed for the risk-averse.
High-net-worth clients aren't immune to having serious concerns about their finances because of the tumultuous economy, according to financial advisers.
With stocks falling, credit tightening and the economy in a tailspin, mutual funds that comply with Shariah, or Islamic law, are becoming more appealing to some advisers.
Since the financial crisis shined a harsh light on the viability of stable-value and money market funds, advisers who counsel employers on their 401(k) plans are taking a closer look at these investments.
Hedge fund managers and other short sellers will have to continue to work around an emergency SEC rule that prohibits short selling of more than 800 banks and related financial companies — but the prospect of a permanent ban has the industry up in arms.
