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Montgomery Advertiser – State officials are seeking $36.2 million in damages from OppenheimerFunds Inc., which managed a fund responsible for steep losses in the Oregon College Savings Plan.
Officials said in a statement Monday that risky, "hedge-fund like" investments cost the Oppenheimer Core Bond Fund 36 percent of its value last year — and 10 percent more so far this year.Meanwhile, comparable funds in a benchmark index posted a gain of about 5 percent for 2008, they said.
New York Times Blogs – Officials in Oregon are seeking $36.2 million in damages from OppenheimerFunds, which managed an account responsible for steep losses in the state’s college savings plan.
Officials said in a statement on Monday that risky “hedge-fund like” investments cost the Oppenheimer Core Bond Fund 36 percent of its value last year and 10 percent more so far this year.
Comparable funds in a benchmark index posted a gain of about 5 percent for 2008, they said.
IndexUniverse.com – Two new db x-trackers ETFs were admitted to trading on the Deutsche Boerse Xetra platform on Wednesday, one tracking a Deutsche Bank hedge fund index, and the other tracking the Russell 2000 Index.
The db x-trackers db Hedge Fund Index ETF (ISIN: LU0328476337) tracks the performance of the db Hedge Fund Index. The index captures five different core hedge fund strategies, as represented by the dbX-Tactical Hedge Fund ("THF") Index family, all proprietary Deutsche Bank indices. The five core hedge fund strategies are equity hedge, market-neutral, systematic macro, event-driven, and credit and convertible. The Index is systematically rebalanced quarterly. Allocations to each of the underlying THF Indices will be made on a non-discretionary basis, to reflect distributions of assets by strategy across the hedge fund industry, and mapped to a well recognised third party industry benchmark index.
