Investing

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ALTERNATIVES JAN 30, 2009
KKR exec sees ‘next wave of greed’

The country is facing at least two more years of tough economic times, with no significant rebound for three-to-five years, said George Fisher, a senior adviser at New York private-equity firm Kohlberg Kravis Roberts & Co.

ALTERNATIVES JAN 29, 2009
NASAA calls for hedge fund regulation

“Congress should grant the SEC explicit statutory authority to regulate hedge fund advisers as investment advisers,” Colorado securities commissioner Fred Joseph said at a press conference in Washington held by the North American Securities Administrators Association Inc.

ETFS JAN 29, 2009
Invesco to launch residential MBS-centered ETFS

Invesco PowerShares Capital Management LLC has filed registration statements for two actively managed exchange traded funds focused on the non-agency prime and Alt-A residential-mortgage-backed securities markets.

ALTERNATIVES JAN 28, 2009
Tremont to close hedge fund unit

Tremont Group Holdings Inc. of New York is closing its hedge fund division following $3.1 billion in losses associated with the Bernie Madoff scandal, according to the firm.

ALTERNATIVES JAN 28, 2009
Hedge fund fugitive comes in from the cold

Florida hedge fund manager Arthur Nadel has come out of hiding and turned himself in yesterday to the Federal Bureau of Investigations in Tampa, Fla.

FIXED INCOME JAN 27, 2009
<h1>Morningstar unveils gov't-backed bond index</h1>

The genesis of the index is the Temporary Liquidity Guaranty Program created by the Federal Deposit Insurance Corp., which allows bank holding companies to issue senior unsecured debt guaranteed by the U.S. government.

ETFS JAN 27, 2009
State Street launches fixed-income ETFs

State Street Global Advisors today announced the launch of two new fixed-income exchange traded funds: the SPDR Barclays Capital Short Term International Treasury Bond ETF and the SPDR Barclays Capital Mortgage Backed Bond ETF.

ALTERNATIVES JAN 26, 2009
MBA sees long road to housing recovery

The Mortgage Bankers Association is predicting that 2009 will be another rocky year for the housing sector, with housing starts falling 22.9%, new-home sales declining 31% and new-home prices falling another 5.1%.

MUTUAL FUNDS JAN 25, 2009
Mass-affluent investors are still optimistic about green investing

Despite the economic downturn, investors with more than $100,000 in assets were still optimistic about investing in green ventures, according to a survey released today by Allianz Global Investors.

MUTUAL FUNDS JAN 25, 2009
Trend fund turns focus to infrastructure

A rocky history notwithstanding, the U.S. Global Investors Global Mega Trends Fund (MEGAX) hopes to turn the corner in 2009 by focusing heavily on infrastructure-related investing.

ALTERNATIVES JAN 23, 2009
Builder battles ‘unprecedented homebuyer hesitancy’

The deepening recession and rising unemployment took a toll on homebuilding giant Centex Corp. in the final three months of 2008 as the company saw new-home sales plunge 80%.

ALTERNATIVES JAN 22, 2009
Lehman offloads two private-equity funds

A Luxembourg investment partnership has agreed to purchase two private-equity funds from Lehman Brothers Holdings Inc.&#8217;s bankruptcy estate.

MUTUAL FUNDS JAN 22, 2009
Forward march: Firm launches frontier funds

Forward Management LLC of San Francisco, adviser to the Accessor Funds, announced today the launch of a mutual fund that gives investors access to &#8220;frontier&#8221; equity markets which are smaller, less liquid and less developed.

FIXED INCOME JAN 22, 2009
S&P: Corporate-junk-bond defaults will soar

The default rate for issuers of U.S. corporate junk bonds &#8212; bonds that Standard &amp; Poor&#8217;s rates BB+ and below &#8212; is expected to &#8220;catapult&#8221; to an all-time high of 13.9% by December, S&amp;P said in a report today.

ALTERNATIVES JAN 22, 2009
Housing starts sink to historic low

The housing market continued its downward spiral in December, with new-home construction plummeting to a record low, according to data released today by the Department of Commerce.

MUTUAL FUNDS JAN 22, 2009
Pimco to launch money market funds

Pacific Investment Management Co. of Newport Beach, Calif., has filed with the Securities and Exchange Commission to launch the Treasury Money Market and Government Money Market funds.

ALTERNATIVES JAN 21, 2009
HFR: Hedge fund redemptions hit record

Hedge funds experienced record net redemptions of $155 billion in 2008, which when combined with a performance decline of 18.3% for the HFRI Fund Weighted Composite index for the year, dropped total industry assets 25% to $1.4 trillion as of Dec. 31.

ALTERNATIVES JAN 20, 2009
Hedge funds severely trimmed in 2008

According to preliminary data from Hennessee Group LLC in New York, total hedge-fund assets declined by 39% to $1.21 trillion in 2008 &#8212; their lowest level since 2006.

ALTERNATIVES JAN 19, 2009
SEC, FBI on trail of vanished hedger

The mysterious disappearance of a Florida hedge fund manager five days ago has prompted the Federal Bureau of Investigation and the Securities and Exchange Commission to join the investigation, published reports said.

ETFS JAN 18, 2009
Amid gloom, ETFs' future looks brighter

Actively managed equity mutual funds suffered record net outflows of $208.3 billion last year, while equity index funds enjoyed net inflows of $28 billion, according to estimates from Morningstar Inc.