Author Archives: the HedgeCo News Team
Bank of America CEO Lowers Growth Forecast Due to Fleet Acquisition
Dec. 3–Bank of America Corp. chief executive Kenneth D. Lewis yesterday scaled back a money-management growth forecast set by the company before its planned acquisition of New England’s largestbank, FleetBoston Financial Corp. and said the resulting company will reduce its […]
Wall Street regulators sue Amvescap unit
ELIOT SPITZER, the New York Attorney General, and the SEC filed civil lawsuits against Amvescap’s US unit Invesco Funds and Raymond Cunningham, its chief executive, charging them with allowingnumerous hedge funds to make improper “market timing” trades in mutual funds […]
The Dow Index Remains Fairly Valued Says Johnson Graduate School Study
<body.content> <block> <p>ITHACA, N.Y., Dec. 3 /PRNewswire/ — The Parker Center for Investment Research, an academic think tank and research institute housed at CornellUniversity’s Johnson Graduate School of Management, today said its proprietary analysis shows that the Dow Jones Industrial […]
SEC to Stop Fund Trading at 4 P.m. Daily
WASHINGTON (AP) – Federal regulators are moving to stanch a tide of trading abuses in mutual funds with new curbs on after-hours trading which brings profits to a favored few fund investors. As the mutual fund scandal widens, the Securities […]
Van Global Hedge Fund Index Gains 1.1% Net In November; Year-to-Date Return Rises to 15.7% Net
NASHVILLE, Tenn.–(BUSINESS WIRE)–Dec. 3, 2003–Van Hedge Fund Advisors International, Inc. (VAN) announced today a preliminary November return for the Van Global Hedge Fund Index of 1.1% net offees. The Index has gained 15.7% net for the year to date through […]
Denver-Based Invesco Funds Group Hit with Three Market-Timing Lawsuits
Dec. 3–New York Attorney General Eliot Spitzer, the U.S. Securities and Exchange Commission and Colorado Attorney General Ken Salazar sued Invesco Funds Group on Tuesday, claiming that theDenver-based money manager deceived its investors and failed to protect them from market-timing […]
Founder Strong Steps Down as Head of Wisconsin Financial Firm
Dec. 3–Richard Strong, a central figure in the ongoing mutual fund investigations, stepped down Tuesday as chairman, chief executive and chief investment officer of Strong Financial Corp., theWisconsin firm he founded in 1974. The target of probes by New York […]
Smart and Associates, LLP Names Louis McCall Director Of Accounting and Assurance Services
<body.content> <block> <p>PHILADELPHIA, Dec. 3 /PRNewswire/ — Smart and Associates, LLP is pleased to announce that Louis McCall has joined the firm as Director of Accounting andAssurance Services.</p> <p>(Logo: <a>http://www.newscom.com/cgi-bin/prnh/20031203/DCW043LOGO-a</a> )</p> <p>Lou has over 22 years experience providing clients withaudit, […]
Strong steps down
Strong steps down Embattled funds chairman says he’ll move to divest By KATHLEEN GALLAGHER [email protected], Journal Sentinel Wednesday, December 3, 2003 Battered by three months of accusations against him and his company, Richard S. Strong resigned Tuesday as Strong Financial […]
Regulators say Invesco defrauded its shareholders ; N.Y., SEC accuse fund firm of allowing market timing
NEW YORK – Regulators charged Invesco Funds Group Inc. and its chief executive with civil fraud Tuesday in the rapidly expanding mutual fund trading scandal. In separate filings, New York State Attorney General Eliot Spitzer and the Securities and Exchange […]
Federal, New York Regulators Accuse Invesco Funds Group of Fraud
Dec. 3–Federal and New York regulators filed civil complaints Tuesday against Invesco Funds Group and CEO Raymond Cunningham, the latest salvo launched in the probe of questionable trading practicesin the mutual fund industry. The complaint accuses Cunningham and the company […]
The Dow Index Remains Fairly Valued Says Johnson Graduate School Study
<body.content> <block> <p>ITHACA, N.Y., Dec. 3 /PRNewswire/ — The Parker Center for Investment Research, an academic think tank and research institute housed at CornellUniversity’s Johnson Graduate School of Management, today said its proprietary analysis shows that the Dow Jones Industrial […]