Net new issuance of Treasury coupon securities is expected to hit $47 billion in the second quarter.
The board of directors also announced a plan to repurchase up to $1.5 billion of the company's stock over the next two years.
Derek Kaufman, who spent 12 years at JPMorgan, will serve as the hedge fund's senior managing director.
The redemptions would be the first involving tax-free closed-end funds caught in failed auctions.
Greg Coffey, a portfolio manager with the hedge fund, who oversees $7 billion in assets, is stepping down May 1.
Sales of existing homes decreased by 2% last month to a seasonally adjusted rate of 4.93 million units.
“We are certainly ... disappointed that NAIFA’s board would suddenly change course on this important consumer protection issue"
If investors were expecting the first actively managed exchange traded funds to look anything like their mutual fund counterparts, they are probably disappointed by three ETFs that Invesco PowerShares Capital Management LLC introduced this month.
Bank of America Corp. reported a 77% decline in first-quarter earnings, to $1.21 billion, or $0.23 cents a share.
The current economic and market challenges apparently aren't enough to derail the growth and prosperity of the $2 trillion hedge fund industry, according to a survey of hedge fund managers.
