{"id":8500,"date":"2008-09-01T00:00:00","date_gmt":"2008-09-01T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"small-payback-belies-big-impact-of-2003-mutual-funds","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/09\/2008\/small-payback-belies-big-impact-of-2003-mutual-funds.html","title":{"rendered":"Small payback belies big impact of 2003 mutual-funds"},"content":{"rendered":"<p>Seattle Times &#8211; Five years ago, the mutual- fund world was rocked by the biggest scandal in its 80-year history.<\/p>\n<p>Fund companies gave some customers trading privileges that weren&#8217;t open to everyone; those special interests &mdash; notably some hedge funds &mdash; engaged in rapid trading that netted quick profits at the expense of the average shareholder.<\/p>\n<p>Headlines called it a &quot;market-timing scandal,&quot; a misnomer since there&#8217;s nothing illegal about trying to time the market. The problem wasn&#8217;t even so much the quick-fire trades as it was the special privileges that let traders play games that the ordinary shareholder couldn&#8217;t engage in and actually paid for.<\/p>\n<p>Now shareholders in scandal-tainted funds are starting to receive payments to compensate for their losses. The SEC just sent checks worth a total of $40 million to 600,000 Putnam investors. Another $18 million was distributed to some 325,000 Janus shareholders.<\/p>\n<p><strong><a target=\"_blank\" href=\"http:\/\/www.hedgeco.net\/news\/news_land.php?i=http:\/\/seattletimes.nwsource.com\/html\/businesstechnology\/2008149146_jaffe31.html\">Read Complete Article<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Seattle Times &#8211; Five years ago, the mutual- fund world was rocked by the biggest scandal in its 80-year history. Fund companies gave some customers trading privileges that weren&#8217;t open to everyone; those special interests &mdash; notably some hedge funds [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[249,2421,293,242,2422,592,2423,77,173,236,172],"class_list":["post-8500","post","type-post","status-publish","format-standard","hentry","category-syndicated","tag-asset-management","tag-doom","tag-guru","tag-img-src","tag-management-plc","tag-merger-talks","tag-road-to-riches","tag-sister-sites","tag-strategist","tag-trillion","tag-ty"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/8500","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=8500"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/8500\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=8500"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=8500"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=8500"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}