Mutual Fund-Investor Lawsuits Limited by U.S. Supreme Court in Fees Case Judges play only a limited role in reviewing the fees charged by mutual fund advisers, the U.S. Supreme Court ruled, insulating the industry from some investor suits even while reviving one against Harris Associates LP.
Volatility Hedge Funds Merge as Financial Market Rebound Hurts Performance AM Investment Partners LLC, a $300 million hedge-fund firm, will combine with BAM Capital LLC as managers that bet on price swings seek to shore up assets eroded by the financial market rebound.
Moody’s, S&P Win Dismissal of Investors’ Fraud Suit Over Mortgage Bonds Moody’s Investors Service Inc., Standard & Poor’s and Fitch Ratings won dismissal of a negligence and fraud lawsuit by two California investors who lost money on highly rated bonds.
Wilson Joins BlackRock’s Fink 16 Years After Schwarzman’s Shouting Match Laurence D. Fink can trace the moment he decided he wanted to go into business with his old friend Kendrick Wilson III to a shouting match Fink had with the chief executive officer of the Blackstone Group LP.
Subprime-Mortgage Debt Rallies as Treasury Boosts Loan Aid: Credit Markets Subprime-mortgage securities are rising at an accelerating pace as the U.S. begins to encourage reductions to homeowners’ balances, which may lead to fewer foreclosures and a quicker end to the housing slump.
State Street Selects Nuveen to Manage Almost $2 Billion of Muni-Bond ETFs State Street Corp., the second- largest manager of exchange-traded funds, selected Nuveen Investments Inc. to oversee its municipal-bond ETFs as the company seeks to expand its lineup.
Temasek Invests $100 Million in Platmin as It Seeks to Expand Into Mining Temasek Holdings Pte agreed to buy $100 million of convertible debt in Platmin Ltd., the South Africa-based platinum miner controlled by Brian Gilbertson’s Pallinghurst Resources Ltd.
Franklin Templeton Favors Short-Term Indian Bonds on Inflation Outlook Franklin Templeton Investments has moved into shorter-term corporate bonds in India as economic growth spurs inflation, risking higher interest rates.
Investec Offers Shares for Rest of Investment Manager Rensburg Sheppards Investec Plc, the South African investment and private bank, offered about 218 million pounds ($328 million) for the 53 percent of Rensburg Sheppards Plc it doesn’t already own to build up its wealth management business.