Monthly Archives: September 2003
Laxey has taste for Currie
LAXEY Partners, an Isle of Man-based hedge fund manager, has bought a 12.57% stake in the (pounds) 48m Martin Currie European Investment Trust. The well-known activist shareholder bought a tranche of 3.08 million shares in the trust to give it […]
U.S. Mutual Fund Firms Seek Assurances from Outside Sales Officers
Sep. 11–The nation’s mutual fund companies are asking outside sales representatives for assurances that the funds’ bans on market timing are being honored. The Securities and Exchange Commission is raising similar questions of brokerage firms, as the focus of the […]
Bangkok Post, Thailand, Nikhil B. Srinivasan Column
Sep. 11–What’s with the SET? I have received this question from several of my money manager friends. After all, while most markets around the world have had rallies, Thailand has been on a tear,rising 57 percent this year alone. For […]
Bank Traders Get the Word on Questionable Practices
Sep. 11–Facing separate mutual fund investigations, Charlotte’s big banks are making sure employees know they will not tolerate questionable trading practices. Wachovia Securities, the brokerage arm of Wachovia Corp., sent a bulletin this week to its 12,000 brokers reiterating the […]
Bank One to Pay Back Shareholders Harmed by Improper Trading with Canary
Sep. 11–Bank One will make “appropriate restitution” to mutual-fund shareholders who were harmed by improper trading with Canary Capital Partners, Chief Executive Jamie Dimon said. Dimon said Bank One is evaluating the trading policies of its One Group of mutual […]
Houston-Based Invesco Cooperates in New York Probe into Fund Trading Practices
Sep. 10–The New York attorney general’s office, which is investigating mutual fund trading practices, has contacted Houston-based Invesco Funds Group Inc., the company said Tuesday. In a statement on the company’s Web site, chief executive Mark H. Williamson said, “As […]
Fort Lauderdale, Fla., Man Accused of Bilking Investors Out of $13.7 Million
Sep. 10–Two years ago, Donald C. O’Neill set up offices in the same polished high-rise building in downtown Fort Lauderdale that houses the U.S. attorney. Now prosecutors say they shared thepremises with a sophisticated crook. O’Neill, prosecutors allege, used the […]
FBI Alleges Hedge Fund Fraud; Florida Man Sought Millions in Bogus Investments
Sep. 10–Donald C. O’Neill raised $13.7 million through a fraudulent foreign currency investment scheme and then spent much of it on personal indulgences, federal authorities charge. The FBI is looking for the former Lighthouse Point resident who used the money […]
Stock Market Solutions Discovers New Analytic Trading System
FORT LAUDERDALE, Fla.–(BUSINESS WIRE)–Sept. 10, 2003–Stock Market Solutions, Inc. (OTCBB:SMKT) In completing its highly anticipated software trading system based on Jesse Livermore methodology thecompany has discovered a new analytic based solely on Jesse Livermore trading theories. SMKT announced in July […]
Investors Seek Shield on Unethical Funds
NEW YORK (AP) – Investors trying to determine whether mutual fund companies put shareholders’ interests above their own face a difficult task. After last week’s charges against four companies that they allowed a hedge fund to make illegal trades, investors […]
Price for New Jersey Hedge Fund’s Returns Paid by Investors
Sep. 10–New Jersey hedge fund Canary Capital Partners squeezed sweet returns out of mutual funds whose investors were drinking from a bitter cup. Canary Capital averaged returns of more than 30 percent a year from 2000 to 2002 by trading […]
Milberg Weiss Announces The Filing Of A Class Action Suit Against Janus Capital Group Inc. Defendants and Canary on behalf of Purchasers of the Securities of the Janus Family of Funds
NEW YORK–(BUSINESS WIRE)–Sept. 10, 2003–The law firm of Milberg Weiss Bershad Hynes & Lerach LLP announces that a class action lawsuit was filed on September 9, 2003, on behalf of purchasersof the securities of the Janus Funds family of funds […]