Author Archives: the HedgeCo News Team
$2 billion pulled from Strong in November
$2 billion pulled from Strong in November Withdrawal rate rises as scandal continues By KATHLEEN GALLAGHER [email protected], Journal Sentinel Friday, December 5, 2003 Mutual fund shareholders pulled nearly $2 billion out of Strong Capital Management Inc. in November, suggesting an […]
Brokers: Trades OK by Pru’s top execs; They say firm almost marketed techniques
Two former Prudential Securities office managers admit that some brokers they oversaw in Boston used market-timing trades to reap profits from mutual funds, but they also claimed in formal responsesto regulatory charges that the trading had been authorized by top […]
Bear Stearns to Hold Conference Call on December 17 to Announce Fiscal Year and Fourth Quarter 2003 Results
NEW YORK–(BUSINESS WIRE)–Dec. 5, 2003–The Bear Stearns Companies Inc. (NYSE: BSC) plans to announce its fiscal year and fourth quarter 2003 financial results on Wednesday, December 17, 2003, in apress release that will be issued prior to the opening of […]
SEC Targets Dallas Broker
Dec. 5–A Dallas brokerage, Mutuals.com, was accused by the Securities and Exchange Commission of defrauding investors and mutual funds with illegal after-hours trading and market timing. The SEC’s suit, filed Thursday in U.S. District Court in Dallas, is the first […]
Former Investment Managers Confirm Take After Stake Sale of Sports Club
Dec. 4–Shrewd followers of the soap opera of Manchester United’s escalating share price will already know where to look for the next stock market raid by rich men with fat wallets. Lansdowne Partners, a secretive West End-based hedge fund led […]
Trading cutoff urged SEC tries to curb mutual fund abuse
WASHINGTON – Federal regulators on Wednesday proposed to close a loophole that allows after-hours trading in mutual funds, in a bid to help restore investor confidence shaken by a spreading scandal. The Securities and Exchange Commission voted 5-0 to tentatively […]
Amvescap Shares Take a Beating on US Fears
Dec. 4–Shares in London-listed Amvescap dropped 14 pence to 389 1/2 pence in heavy trading as investors fretted it might lose investment funds on the back of a civil action for fraud at its USsubsidiary Invesco Funds Group (IFG). In […]
Investment Firm in Great Britain Trims Stake in Manchester United
Dec. 4–Legal & General Investment Managers, the biggest institutional shareholder in Manchester United, has sold its stake to below the magic 3 percent level in a move highlighting the club’snew-found status as a plaything for tycoons. With its 7.8 million […]
Rich Pickings Of Ex Merrill Duo In M
SHREWD followers of the soap opera of Manchester United’s escalating share price will already know where to look for the next stock market raid by rich men with fat wallets. Lansdowne Partners, a secretive West End-based hedge fund led by […]
Amvescap shares take a beating on US fears
SHARES in London-listed Amvescap dropped 14p to 3891/2p in heavy trading as investors fretted it might lose investment funds on the back of a civil action for fraud at its US subsidiary Invesco FundsGroup (IFG). In a clear sign of […]
Ibbotson Announces 2004 Asset Allocation Conference
CHICAGO, Dec. 4, 2003 (PRIMEZONE) — Ibbotson Associates, a leading provider of investment tools and knowledge, today announced that its 2004 asset allocation conference will be held January 22-23 atthe Orlando World Center Marriott Resort and Convention Center. The company […]
Tokyo Stocks Rebound as Market Focuses on U.S. Events
Tokyo, Dec. 4 (Jiji Press)–Stocks rebounded on the Tokyo Stock Exchange Thursday, led by the strength of stock index futures, but the key Nikkei average was stuck in a tight range for most of theday amid a wait-and-see mood ahead […]