Canadian Imperial Bank of Commerce, the country's fifth-largest bank, agreed to buy a 41 percent stake in American Century Investments from JPMorgan Chase & Co. for $848 million to expand its asset-management business.
Baffico exits: sources claim that fund firm will meld Claymore, Rydex
Apparently, the new normal is not so bad for famed Pimco fund manager Bill Gross. According to reports, the bond king has purchased actress Jennifer Aniston's Beverly Hills house for $38 million.
A survey finds that cost is the most important factor for advisers when selecting exchange-traded funds. Service? Not so much.
No one knows how difficult it can be to manage a go-anywhere fund better than Dennis Stattman.
Fairholme boss surprised by flap over his activism at property company; 'will think long and hard about doing it again'
During his years as an investment manager at such big firms as Smith Barney Inc. and Lehman Brothers Holdings Inc., Bruce Berkowitz learned firsthand the dangers of going along with the crowd. “You would have an investment meeting with 12 to 20 people around the table, and an idea would be discussed, and everyone would feel the need to add their input,” he said.
Mutual fund managers are buying telecommunications stocks, many of them for the first time in years, as the sector emerges as a bright spot in an otherwise lackluster market
