Author Archives: the HedgeCo News Team
Mutual fund scrutiny expands
The government investigation into mutual fund wrongdoing expanded to Alliance Capital Management on Tuesday, and the fallout from the scandal began to spread to retirement plans. Alliance Capital, the 25th-largest fund complex, said it has suspended two executives after finding […]
SEC Chairman Outlines Initiatives to Ensure Fair Treatment of Investors
Oct. 1–With inquiries and improprieties engulfing the mutual fund industry, Securities and Exchange Commission Chairman William Donaldson yesterday appeared on Capitol Hill and outlined initiativesdesigned to ensure that investors are treated fairly and kept well informed. The move comes one […]
New York Mutual Fund Manager Suspends Workers for Market Timing
Oct. 1–Mutual fund manager Alliance Capital suspended two employees after discovering conflicts of interest in trading activities. Alliance said a portfolio manager of the Alliance Bernstein Technology Fund and an exec involved in selling the firm’s hedge funds were both […]
FOREIGN INVESTMENT Hedge funds biggest SET players, NATION
xfdws FOREIGN-INVESTMENT sked Emerging Markets Datafile October 01, 2003 NATION THAILAND ENGLISH FOREIGN INVESTMENT: Hedge funds biggest SET players, NATION Siriporn Chanjindamanee ASIA WorldSources, Inc. 322 MASSACHUSETTS AVENUE 2ND FLOOR, NE WASHINGTON, DC 20002 COPYRIGHT 2003 BY WORLDSOURCES, INC., A […]
State Street Rated Top Lender in Isf Magazine’s 2003 Global Equity Finance Survey
LONDON–(BUSINESS WIRE)–Oct. 1, 2003–State Street Corporation (NYSE: STT), the world’s leading specialist in meeting the needs of institutional investors, announced today that it has been rated the”Top Lender (Rated by Borrowers)” in the 2003 Global Equity Finance Survey by International […]
Alliance Capital Suspends Fund Executives
NEW YORK (AP) – An arm of the Alliance family of mutual funds suspended two employees following an internal probe and said it was cooperating with authorities who are investigating shady tradingpractices. The two workers were suspended from Alliance Capital […]
US crackdown continues
The US regulatory crackdown on abuses in the fund industry gathered momentum yesterday as Alliance Capital Management said it suspended two executives after finding evidence of “conflicts ofinterest”. The company said it took action against a portfolio manager of its […]
Fox-Pitt, Kelton Hires U.S. Director of Research/Senior Bank Analyst
NEW YORK–(BUSINESS WIRE)–Oct. 1, 2003–Fox-Pitt, Kelton (“FPK”), the only investment bank specializing in financial institutions worldwide, today announced the appointment of Joseph C. Duwan asU.S. Director of Research and a senior member of the U.S. Bank Research Team. Mr. Duwan […]
Nightly Business Report
xfdce NIGHTLY-BUSINESS-REPO-00 Show: NIGHTLY BUSINESS REPORT> Date: October 1, 2003> Time: 18:30:00> Tran: 100100cb.118> Type: SHOW> Head: Nightly Business Report> Sect: Business> Byline: Paul Kangas, Susie Gharib> Guest: Barry Griswell, Kevin McCormally> Spec: Business; Economy> Time: 00:00:00> PAUL KANGAS, NIGHTLY […]
Prudential forces outsix after fund flap; Market-timing also takes toll elsewhere
The branch manager at Prudential Securities’ Boston office and five brokers there were forced out Monday, sources said yesterday, after the office was targeted by state and federal probes intoimproper mutual fund trading. The manager, Robert E. Shannon, was asked […]
Funds ‘safer than shares’
HEDGE fund guru Stanley Fink reckons some of his Man Group funds are safer for punters than shares. Man’s multimillionaire chief executive says: ‘We have certain funds that, mathematically, are safer than equities.’ He admits hedge funds are more complicated […]
Barrack Rodos & Bacine Announces the Filing of a Class Action Suit Against Bank of America/Nations Funds Defendants and Canary Defendants on Behalf of Purchasers of the Securities of the Nations Funds Family of Funds
<body.content> <block> <p>PHILADELPHIA, Oct. 1 /PRNewswire/ — Counsel for Class Plaintiffs, Barrack, Rodos & Bacine, today issued the following:</p> <p>A classaction has been commenced in the United States District Court for the Southern District of New York on behalf of […]