Investment Strategies
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How Active is Your Fund Manager?
By Staff WriterDownload a copy of the paper How Active Is Your Fund Manager? A New Measure That Predicts Performance, by Martijn Cremers and Antti Petajisto here.
January 30, 2008
Cushioning the BlowSwiss banking and securities giant UBS took the unusual step of pre-announcing full-year and fourth-quarter results on January 30. The Zurich- and Basel-based company says it "will report a net loss attributable to shareholders of approximately [Swiss francs] CHF 4.4 billion for full-year 2007," or about $4 billion U.S. dollars,...
January 21, 2008
Mackey to Leave NAVAAfter more than 12 years as president and CEO of NAVA, Mark Mackey has resigned to pursue other opportunities in the financial services arena.
January 17, 2008
Merrill Lynch Reports $8.6 Billion LossMerrill Lynch suffered a loss of $8.6 billion "from continuing operations" for 2007, caused "by significant declines in Fixed Income, Currencies & Commodities (FICC) net revenues," for the last two quarters of the year, the firm said in a January 17 announcement.
January 15, 2008
Citigroup Posts Results and RevampThe stunning net loss of $9.83 billion reported for the fourth quarter by Citigroup Inc. (Citi) January 15, after writing down $18.1 billion in subprime and consumer credit exposures, underscores the depth and breadth of the credit and mortgage crisis.
January 15, 2008
Legg Mason Sells $1B in Notes to KKRThe Baltimore-based asset management firm Legg Mason said January 14 that it will sell $1.25 billion of convertible senior notes to an affiliate of the private equity firm Kohlberg Kravis Roberts (KKR).
January 14, 2008
Magellan Fund Reopens to New InvestorsAdvisors will be able to buy Fidelity's Magellan fund for new investors for the first time since September 30, 1997, Fidelity Investments announced on January 14. Because of redemptions by investors who had invested in Magellan for their retirement accounts, and are now poised to take distributions, the fund has...
January 09, 2008
Smith Replaces Smith as Social Investment Forum ChairCheryl Smith, executive vice president and senior portfolio manager at Trillium Asset Management Corporation, is the new chair of the board of the Social Investment...