Monthly Archives: February 2004
CORRECTION: SEC Probes Fund Tied to U.S. Bancorp
Feb. 4–The Milwaukee Journal Sentinel has moved a correction for the story slugged MW-MUTUAL filed by Knight Ridder/Tribune Business News for Feb. 4. The new version deletes the penultimate grafbeginning “Milwaukee’s Artisan Partners …” to remove the company from the […]
Amvescap sets aside pounds 20m for US market timing investigation
AMVESCAP, THE Anglo-American fund manager, yesterday revealed that it had set aside more than pounds 20m to cover the costs of an investigation by US authorities into examples of controversial markettiming trading within its business. The company included a pounds […]
SHARES AND MARKET REPORT: US hedge fund stake building puts spark into British Energy
SHARES IN the electricity generator British Energy have been set alight in the past week by news that the US hedge fund Appaloosa has taken a 4 per cent stake in the company. The shares rose afurther 21 per cent, […]
Ex-bank official charged in fund case
A former executive at Canadian Imperial Bank of Commerce was arrested Tuesday and faces criminal and civil charges by U.S. regulators in an illegal mutual fund trading scheme. New York Attorney General Eliot Spitzer’s office arrested Paul Flynn, a former […]
Employers, Taxpayers Face Rising Subsidies to Fund Guaranteed Pensions
Feb. 4–Like a sunny morning after a bleak February storm, the stock market’s recovery has eased some of the strain on U.S. pension plans. But corporations and taxpayers still face years of rising subsidies to fund the checks promised to […]
Former CIBC Executive Arrested in Probe of Mutual Fund Trading
Feb. 4–Former CIBC managing director Paul Flynn was arrested outside his Larchmont home yesterday and led off in handcuffs to face criminal charges in the expanding probe of improper mutual fundtrading. Flynn, 46, pleaded not guilty to five felony counts […]
Federated to Pay $7.6 Million to Investors Harmed by Trading
Feb. 4–Federated Investors said yesterday it had fired one employee and punished five others in connection with questionable mutual fund trading. The company also said it would pay $7.6 million toinvestors who may have been harmed by the activity, but […]
SEC Probes Fund Tied to U.S. Bancorp
Feb. 4–Federal securities regulators are conducting an inquiry into a Milwaukee mutual fund affiliated with U.S. Bancorp for what the fund calls “potentially improper trading” of a security in itsportfolio. The informal probe by the Securities and Exchange Commission into […]
Schneider Capital Launches a Multi Strategy Hedge Fund
WEST PALM BEACH, FL (HEDGECO.NET) – Schneider Capital Management has unveiled a new hedge fund, according to a just released statement. This is the second hedge fund launched by the asset managerthis year so far. The first fund launched earlier […]
Emergent Asset Management Launches Two New Funds
WEST PALM BEACH, FL (HEDGECO.NET) – Emergent Asset Management Company is launching two new funds according to released company statements, the new funds, Emergent Diversified Emerging Markets MacroFund and the Emergent Global Fund would help �to streamline investment products for […]
Managed Futures Top $131 Billion, Money Under Management Nearly Doubles in 18 Months
Fairfield, Iowa, Feb. 3, 2005 — The Barclay Group reported today that money under management in managed futures climbed to a record $131.9 billion during the 4th quarter of 2004. Barclay is aleading provider of managed futures and hedge fund […]
Federated to Take $20M Charge
PITTSBURGH (AP) – Federated Investors Inc. will take a $20 million charge on fourth-quarter earnings to establish a fund for investors and pay for an internal review of mutual fund trading practices,the company announced Tuesday. Federated also said it had […]