Search

Money manager BlackRock Inc.'s first-quarter profit nearly quintupled to $423 million from $84 million a year ago. Revenue more than doubled to $2 billion. Assets under management rose from $1.3 trillion a year ago to $3.36 trillion at the end of March.

Citigroup Inc. is selling three of Citi Alternative Investments L.L.C.'s businesses to SkyBridge Capital L.L.C. for an undisclosed amount. The three hedge funds have about $4.2 million in assets under management.

Photos by Matthew Atwan The mutual fund scandal has another side: the investors. Money Management Executive's roving reporter Joseph Checkler went around New York - from the 2005 NFL Draft [...]

After months of chipping away at the nation's biggest fund company, American Funds finally surpassed Fidelity Investments as the second-largest U.S. fund group in March, according to data from Financial [...]

Overall, inflows in stock and bond mutual funds, or long-term funds, rose 15% in March from the previous month, jumping to $28.4 billion from $24.6 billion in February. International and [...]

Less than half of the chief compliance officers hired in the past year would unconditionally accept the same jobs today, according to survey data provided exclusively for Money Management Executive. [...]

The Money Management Institute announced that its 2005 Pioneer Award recipients are Charles Widger of Brinker Capital, Lawrence Sinsimer of Eaton Vance and James Seuffert of Bank of New York. [...]

Investors poured $4.5 billion into equity funds during January, more than a $7 billion drop from December, according to Lipper of New York. Domestic stock funds were hit hard, but [...]

October was a positive month for equity mutual funds, which took in $15.3 billion, Lipper reported. The company compared the month's stock market rally to a similar period of good [...]

Stock and bond funds had inflows of $21.5 billion in September, an increase of $8 billion from a month earlier, according to Financial Research Corp. However, money market funds lost [...]

In the months before the 2004 presidential election, investors are opting for safety over risk. Equity fund inflows were an estimated $11.5 billion in August, according to Lipper, as value [...]

Stephen Treadway, the chief executive officer of PIMCO affiliate PA Distributors, who was charged with fraud back in May, has left the company. Treadway and his firm, PA Distributors, which [...]

Investors, mystified about current events and the seesaw stock markets of the past few months, invested less money in equity funds in May than in any month since April 2003, [...]

In a new kind of 'Me Generation' age dominated by high-speed Internet and color-screen Palm Pilots, it's not much of a revelation that young Y adults are less likely than [...]

Fidelity has injected extra flexibility and personalization into its variable annuities. By adding three new funds - a real estate, a dynamic capital appreciation and a value strategies portfolio - [...]

After near-record highs set by equity funds in January, not unexpectedly, February couldn't live up to the same expectations, according to a monthly report from Lipper. But it was a [...]

Fidelity has injected extra flexibility and personalization into its variable annuities, and is trying to sell its customers on virtually nonexistent tax penalties. By adding three new funds - a [...]

Canadian Imperial Bank of Commerce announced last Monday that it would pour $37 million to reform and educate employees on corporate governance. The funding is, in part, forced by a [...]

Michael Travaglini, a Putnam Investments executive who has also served as head of Boston's retirement fund operation, has been selected as the new director of Massachusetts' state pension fund, a [...]

There is something to be said for being in the right place at the right time. E*Trade Group announced an initiative to partially refund 12b-1 fees to investors using its [...]

The head of the world's No. 1 mutual fund company said last Tuesday that forcing firms to hire independent chairmen might not be the end-all solution to fixing problems in [...]

Franklin Resources last week said that improper trading of its mutual fund shares were isolated incidents that do not reflect widespread company abuses and didn't harm long-term shareholders. The company [...]

Morningstar has announced plans to create a global hedge fund and private partnership database. The initiative responds to market demand for practical hedge fund information and analytics, the company said. [...]

NEW YORK - Emphasizing the increased role of state attorney generals in criminal enforcement, Eliot Spitzer distinguished between recent financial services industry scandals to a packed criminal justice section of [...]

With a scandal comes a scramble. Major changes among top executives are taking place at Bank of America, Putnam, Alliance and other high-profile firms. A report by Russell Reynolds Associates, [...]

Fidelity Investments had affluent clients in mind last week when it introduced a wide-ranging platform designed to help registered investment advisers (RIAs) better serve those clients with a bevy of [...]

WASHINGTON - The fees at pension funds and mutual funds are virtually identical once the two entities are compared as apples and apples and include sub-accounts, an Investment Company Institute [...]

In what should have been a three-month red carpet rollout to an 80th birthday party, the mutual fund industry is not even thinking of a gala. Instead, it is pondering [...]

To restore industry confidence and nudge investors' interests back to the forefront, the Investment Company Institute told the SEC last Monday it supports the curtailing of soft dollars and banning [...]

Amid the shadow of the Securities and Exchange Commission's crucial drive toward assuring ethical mutual fund transactions, the National Securities Clearing Corporation, the commission's self-regulating organization that processes most fund [...]

Security Trust Corp., the Phoenix-based firm whose three top officials were charged with felonies by New York Attorney General Eliot Spitzer, will be shut down effective March 31, 2004. The [...]

Sen. Peter Fitzgerald (R-Ill.) has suggested banishing the phrase 'mutual fund' from our financial vocabulary because of investors wrongly thinking they collectively own a fund company. That got us thinking. [...]

Asset management firm Dreyfus will market $4.7 billion in Bear Stearns assets, the companies announced last Tuesday. The agreement, reached after months of negotiation and due diligence, calls for the [...]

Banks aren't exactly knocking the Big Five brokers out of the SMA ring but they're throwing them a few jabs. Domination by the five large sponsor firms in the separately [...]

The mutual fund industry, while still viable and in position to bounce back, needs drastic changes and needs them now, Securities and Exchange Commission Chairman William H. Donaldson said in [...]

With investors withdrawing their money from mutual funds, the corresponding stocks within those funds could see their prices plummet. Putnam Investment's loss of $14 billion in the first week of [...]

The Investment Company Institute's top officials presented ideas to the Senate and the Securities and Exchange Commission last week to fix the problems of late-trading, market timing and insider market [...]

Cumulus Media Inc., the radio broadcasting company, had bid almost $1.4 billion for Citadel Broadcasting Corp. in a cash-and-stock deal. The offer angered R2 Investments LDC, a large shareholder of Citadel, which it believed did not act in the interest of shareholders like itself.

Daryl Dworkin, a former analyst with NIR Group LLC pleaded guilty to charges of securities fraud and others, and faces as much as 30 years in jail. NIR Group and founder Corey Ribotsky have been under government scrutiny since 2009 which has focused on whether investors were misled about returns by Ribotsky and the other hedge fund managers.

The United States Securities and Exchange Commission says that is no longer investigating Third Point LLC, run by hedge-fund manager Daniel Loeb. The fund reported the move in a letter to shareholders, saying that the SEC had been looking into its communications with other fund managers.

Basis Capital, an Australian hedge-fund manager, has sued The Goldman Sachs Group Inc. for $1 billion, alleging fraud in the sale of a collateralized debt obligation known as Timberwolf. $78 million has been invested by Basis capital when the obligation fell apart in 2007 when housing prices plummeted.