Funds Management
Funds management: US SEC files charges for misrepresentating risk
The USA's Securities and Exchange Commission has filed fraud charges against Kevin H Blood of Arizona, the majority shareholder in Capital Wealth Management based in Phoenix. He's been barred from the US financial advisers industry for life.
Funds management: Trikona Advisers nnnounces plans to sue Trikona Trinity Capital
Trikona Advisers Limited ("TAL") today said that it will lodge a claim with the London Court of International Arbitration for GBP112,000,000 for an allegedly unlawful attempt by Trikona Trinity Capital Plc (Code "TRC" on AIM) to terminate its management agreement with the Fund six years early. The agreement was for ten years from 16 April 2006, says TAL.
Funds management: Commonwealth Bank closes Colonial First State fund
As the credit crisis bit, investors in funds started to demand their money back. All over the world, fund managers froze repayments - called "redemptions" in the industry. But as property prices have recently shown an upward trend, some would think it was safe to go back into the water. That's not a universally held opinion, as the decision to close Colonial First State's Mortgage Income Fund shows. Or is Commonwealth getting a jump on the regulators?
Funds Management: Omnium heads to Hong Kong
More evidence that Hong Kong is fighting off bids for its crown as Asia-Pacific's primary financial centre as Omnium opens in Hong Kong with two major contracts.
Funds: scale of Madoff fraud becomes clearer
Can it get any worse for the banks? Each time the bottom is seemingly reached, someone digs the pit a little bit deeper. The list of Madoff's victims is beginning to look like yet another serious blow to banks - and the governments that are rescuing them.
Funds: Legendary trader arrested
Bernard L Madoff, founder of Bernard L Madoff Investment Securities, a trading "hedge fund" has been arrested amid accusations of a USD50 milliard fraud.