Franklin’s Quarterly Earnings Increase as Investors Flock to Global Funds Franklin Resources Inc., manager of the Franklin and Templeton mutual funds, said fiscal second- quarter earnings more than tripled on rising stock prices and inflows to the firm’s global investment products.
Invesco Rises Most in 3 Months After Reporting Quarterly Earnings Tripled Invesco Ltd., manager of the Aim and PowerShares funds, rose the most in three months after projecting higher earnings from its acquisition of Morgan Stanley’s investment unit.
Vanguard Reviews $1.5 Billion Funds With Axa Rosenberg on `Coding Error’ Vanguard Group Inc., the largest U.S. provider of stock and bond funds, is deciding whether to keep Axa Rosenberg Group as manager for about $1.5 billion of its assets, after that firm said a “coding error” disrupted its quantitative investment process.
BlackRock Joins Blackstone in Loan Frenzy as Libor Rises: Credit Markets BlackRock Inc., the world’s largest asset manager, and Blackstone Group LP’s GSO Capital Partners LP are forming mutual funds to invest in loans as the London interbank offered rate rises to the highest level since August.
Pimco Says Avoid Japan’s Long-Term Bonds as Government Debts Keeps Rising Pacific Investment Management Co., which runs the world’s largest bond fund, said investors should avoid long-term Japanese government debt because of concerns about the sustainability of the nation’s finances.
Blankfein Says Goldman Has No Obligation to Disclose Own Trading Position Goldman Sachs Group Inc. Chief Executive Officer Lloyd Blankfein told a Senate panel that market-makers have no obligation to tell clients about their own position in a security.
Ex-Goldman Sachs Trader’s `Hedging’ Argument Falls Flat for Senator Coburn Senator Tom Coburn had what he thought was irrefutable evidence.
Blackstone Hires Former Client Huang From AIG for Corporate Advisory Unit Blackstone Group LP, the world’s biggest private-equity firm, hired Felix Huang, a former executive at client American International Group Inc., for its corporate-advisory unit as it expands beyond buyouts.
Nebraska Senator Nelson, Wife Own Up to $6 Million of Berkshire Stock Senator Ben Nelson owned with his wife as much as $6 million worth of stock in Warren Buffett’s Berkshire Hathaway Inc. and supported an exemption to proposed derivatives rules sought by the Omaha, Nebraska, company.
Levin Grilling Blankfein Over Ethics Means Clash of Harvard Law Standouts Lloyd C. Blankfein and Carl Levin both have degrees from Harvard Law School. Judging from their confrontation on Capitol Hill yesterday, they hardly speak the same language.