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MUTUAL FUNDS SEP 28, 2008
Fund focuses on precise value

In times like these, when the equity markets swing wildly and just about everything can look cheap from certain angles, the focus on value has to be especially precise.

MUTUAL FUNDS SEP 28, 2008
Stock lending isn't worth the money for now, some mutual funds decide

Some mutual fund companies are deciding that the cash their funds earn from lending stocks doesn't justify the risk in light of unpredictable markets and the Securities and Exchange Commission's crackdown on short sales of selected financial stocks.

MUTUAL FUNDS SEP 26, 2008
Ameriprise resists bailout of subsidiary clients

Ameriprise Financial Inc. has no immediate plans to bail out clients of advisers of its independent broker-dealer subsidiary, Securities America Inc., which saw $60 million erased last week when a giant money market fund, the Reserve Primary Fund, “broke the buck."

EQUITIES SEP 26, 2008
Financial intermediaries drawn to equity funds

Despite the volatility of the markets in recent weeks, nearly a third of financial intermediaries are choosing to invest more in equity funds, according to a new survey.

EQUITIES SEP 26, 2008
BlackRock's Doll bullish on domestic equity

“Domestic equity has the highest predictability of earnings, and the lowest volatility. No other country comes close to the U.S. in terms of aggressiveness in monetary policy.”

ALTERNATIVES SEP 25, 2008
Hedge fund manager convicted of fraud

The head of Lancer Management Group LLC and Lancer Management Group II LLC has been found guilty of overstating the hedge funds’ valuations, manipulating the prices of seven securities and falsely representing the funds’ holdings in newsletters.

MUTUAL FUNDS SEP 25, 2008
Federated buys Putnam fund's investments

Under the agreement, the Putnam fund purchased shares in Federated fund with cash and portfolio securities valued at $12.3 billion, said Putnam spokeswoman Laura McNamara.

ALTERNATIVES SEP 25, 2008
SEC demands records from hedge funds

The Securities and Exchange Commission has ordered more than two dozen hedge funds to turn over trading records and e-mail communications made between Sept. 1-19, The Wall Street Journal reported today.

ALTERNATIVES SEP 24, 2008
Existing home sales, prices continue to fall

Sales of existing homes fell to a seasonally adjusted rate of 4.91 million units in August, down 2.2% from July and 10.7% from a year ago, according to the National Association of Realtors of Chicago.

ALTERNATIVES SEP 23, 2008
KKR loses $1.1 billion in first six months

Kohlberg Kravis Roberts posted a total investment loss of $1.1 billion for the six months ended June 30, down from a net gain of $3.4 billion in the first half of 2007, according to a prospectus filed with the SEC.

MUTUAL FUNDS SEP 23, 2008
Third Avenue files suit against Reserve

Third Avenue Institutional International Value Fund LP, a fund of Third Avenue Management LLC, filed a class action Friday against Reserve Management Corp. hinging on the firm's redemption process last week, when the net asset value of the Reserve Primary Fund fell to 97 cents.

MUTUAL FUNDS SEP 22, 2008
Money market fund redemptions taper off

Redemptions from U.S. money market mutual funds declined on Friday, with investors pulling out $5.2 billion compared to $47.7 billion the day before, according to the Westborough, Mass.-based research firm iMoneyNet.

ETFS SEP 22, 2008
Barclays said to steer clear of Lehman ETNs

Barclays PLC won’t be “assuming the obligation” of traditional structured products and exchange traded notes issued by Lehman Brothers Holdings Inc., according to a source close to the situation.

MUTUAL FUNDS SEP 22, 2008
Ameriprise: Reserve tipped off big clients

A suit filed by Ameriprise alleges that The Reserve gave special treatment to its largest clients just as the Primary Fund was losing value and about to “break the buck,” or dip below $1 per share.

ALTERNATIVES SEP 22, 2008
Hedge funds set to sue U.K. regulator

A group of the world's largest hedge funds are planning to sue the Financial Services Authority for millions of pounds of losses allegedly resulting from the regulator's ban on short selling, according to a report in the Sunday Telegraph.

ALTERNATIVES SEP 22, 2008
Report: Legg Mason eyeing private sector move

Baltimore-based Legg Mason is weighing a privatization move that could include one or two private-equity investors, with Kohlberg Kravis Roberts & Co. being one of the interested parties, the New York Post reported.

MUTUAL FUNDS SEP 22, 2008
Tax-exempt money market funds to be covered

The Department of the Treasury’s plan to back money market funds will include both taxable and tax-exempt funds.

MUTUAL FUNDS SEP 22, 2008
The Reserve to halt redemptions on funds

Reserve Management Corp. New York filed with the SEC on Friday to suspend all redemptions from its Primary Fund and the U.S. Government Fund and postpone the date of payment of redemption proceeds for a period longer than seven days after the tender of shares for redemption.

MUTUAL FUNDS SEP 22, 2008
As asset levels drop off, funds act to cut costs

Mutual fund families are cutting expenses because asset levels have dropped, reflecting the rocky markets.

ESG SEP 22, 2008
Congressional caucus asks funds to divest in Sudan

The Congressional Human Rights Caucus is pressuring mutual fund companies voluntarily to divest their holdings in companies that do business in Sudan.