Unprofitable investments in debt and emerging markets have devoured the value of Old Lane, Bloomberg said.
Individual annuity sales increased 6% in the second quarter to a record of $66.5 billion over the same period in 2006.
Richard M. Reilly, Michael Gilotti and Mathew Greenwald were honored and six new board members were added.
American Realty Capital Trust, under chief executive Nicholas Schorsch, plans to sell up to 150 million common shares, raising as much as $1.5 billion.
Turmoil in the credit markets will take a big bite out of hedge fund managers' bonuses this year, according to a report.
The addition of the 26 funds is the result of the recent Bank of America acquisition of U.S. Trust Corp.
Seniors may want to sell their homes and move in with relatives as a way to reduce overhead expenses.
Life insurance brokerage agencies could save up to $377 million annually in agent licensing costs if Congress were to adopt legislation.
The iShares S&P National Municipal Bond Fund from Barclays Global Investors won’t be the last.
Hedge funds lost 1.31% in August, marking the first negative returns since July 2006, according to HFR.
The subprime-mortgage crisis, pushed along by the high-profile collapse of two Bear Stearns Cos. Inc. hedge funds this summer, is turning out to be a boon for money managers looking to pick up bargains.
Recent market volatility has been good for ProShare Advisors LLC. The gyrations have drawn attention to its 52 exchange traded funds, all of which use leverage to provide short or magnified exposure to various indexes.
It’s only nine in the morning on this late-July day, but Tom Ensign’s white dress shirt is already blotted with dark circles of perspiration. Mr. Ensign, president and chief executive of Provest Management Group, is standing on a football field under a blazing-hot sun, which still is rising in a cloudless blue sky. The pungent smell of earth and grass hangs languidly in the hot, thick air.
Another threat to hedge fund managers: A new proposal may keep them from deferring taxes on compensation, The Wall Street Journal reports.
A steep fall in bonds has led to speculation that China may be pulling its funds from the U.S., The Telegraph said.
Hedge funds overall experienced outflows of $32 billion in July, according to data from the TrimTabs/Barclay Hedge Fund Report.
A group of investors in Bear Stearns’ two deflated hedge funds want to replace the funds’ general partner and director.
Van Eck Global launched the Market Vectors-Agribusiness ETF on the American Stock Exchange today.
ETF Insider's ETF 50 Index increased by 0.6% in August, following two consecutive months of declines.
New York City houses the bulk of the investment banking industry, but it holds second place when it comes to weekly pay.
