Erste’s Kober Sees Novartis, Pharmstandard Bolstering Top-Performing Fund Harald Kober, whose ESPA Stock Pharma fund beat two thirds of competitors last year, has increased his holdings of Novartis AG and Russia’s OAO Pharmstandard because he says they will benefit from increased demand for generic drugs.
Ex-Merrill’s Tsuchiya Bets on Hatoyama Policies for New Japan Hedge Fund Atsuko Tsuchiya, a former Merrill Lynch & Co. managing director, plans to start a new Japan- focused hedge fund in March, employing an event-driven strategy that seeks to profit from a change in government.
TCW Sues Former Investment Chief Jeffrey Gundlach Over DoubleLine Founding TCW Group Inc., the Los Angeles-based unit of Societe Generale, sued former investment chief Jeffrey Gundlach and three ex-employees after more than half of its fixed-income professionals joined his new firm.
Janus Capital Appoints Pimco’s Richard Weil as CEO After Black’s Departure Janus Capital Group Inc., the Denver- based fund manager that’s struggled to attract investors, hired Richard M. Weil, head of Pimco Advisory, as chief executive officer, filling a vacancy left when Gary Black quit in July.
State Tax Revenue Falls Most Since 1963 as U.S. Recession Shrinks Incomes U.S. state tax collections fell the most in 46 years in the first three quarters of 2009 as the recession shrank revenue from sources including personal income, the Nelson A. Rockefeller Institute of Government said.
Robeco Increases Holdings of `Punished’ Greek Bonds After Prices Tumble Robeco Groep NV, which oversees $186 billion in assets, increased its holding of Greek bonds because they have cheapened enough to reflect concern the country may struggle to pay its debts.
Kumar, Rajaratnam Friend, Pleads Guilty in Galleon Case, Says He Took Cash Anil Kumar, a former McKinsey & Co. director, told a judge he leaked inside information to Galleon Group LLC founder Raj Rajaratnam over five years in return for $1.75 million.