University of Pennsylvania Endowment Beats Harvard Buying Stocks, Bonds The University of Pennsylvania, the Ivy League school founded by Benjamin Franklin, beat Harvard University’s endowment by choosing the right stock pickers, investing in credit strategies and boosting its Treasury bonds.

Hedge Funds Extend Rally in July as Stock Markets Gain, Eurekahedge Says Hedge funds extended their rally in July as equities managers benefited from global stock market gains, according to Eurekahedge Pte.

Pimco Says Buy Investment-Grade Debt of Banks, Utilities, Energy Companies Investment-grade bonds from large banks and financial institutions, utilities and some energy companies make “compelling” purchases, according to Pacific Investment Management Co. LLC.

China Will Force Corporate Bond Yields Higher in Bid to Attract Investors Chinese companies will need to boost yields on some new corporate bonds to make them more competitive as the government seeks to spur investor interest in fixed- income securities.

Australia Hedge Funds Rise 3.6% in July on Stock Rally; Fifth Monthly Gain Australian hedge funds returned an average 3.6 percent in July, the fifth straight monthly advance, buoyed by an equities rally and signals that the worst of the global recession may be over.

Madoff Had Affair With Ex-Hadassah CFO, Stole Life Savings, Her Book Says An accountant who has publicly blamed imprisoned con man Bernard Madoff for stealing her family’s savings has written a book that will disclose a secret she previously withheld — they once had an extramarital affair.

Stanford Caught Between Two Rights in Quest to Unfreeze Funds for Defense R. Allen Stanford, ranked by Forbes magazine last year as the 205th richest American, with a reported net worth of $2 billion, says he has no money for a lawyer to fend off charges that could imprison him for life.

China’s Stocks Rally to Resume Following `Normal’ Correction, Citic Says China’s stock market will resume its rally after entering a so-called correction as economic growth accelerates and earnings recover, according to Citic Securities Co., the nation’s biggest brokerage by market value.

Blackstone Group Sets Size of Its 10-Year Bond Offering at $600 Million Blackstone Group LP set the size of its offering of 10-year bonds at $600 million, according to a person familiar with the offering.