InvestmentNews – Three former investment managers in Boston are planning to launch a hedge fund in April, according to a report published by FINalternatives, a news service of Stone Street Media LLC.

The firm, Vernon Square Capital LLC, is developing a market-neutral hedge fund, the New York-based news service said.

Based in Boston, the firm was founded by Robert Earl, formerly of The Goldman Sachs Group Inc. of New York, and Richard Weed and Geoff Kelly, both formerly of Putnam Investments of Boston.

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Tags: boston, capital llc, geoff kelly, goldman-sachs, goldman-sachs-group, goldman-sachs-group-inc, investment managers, neutral hedge, news service, putnam investments, robert earl, sachs group inc, weed

Seattle Times – With their investment records in tatters, some mutual-fund companies are pinning their hopes on products with an old-fashioned ambition: delivering steady returns.

Many of these funds are doing just that, while others are falling short of the mark.

Putnam Investments recently introduced four "absolute return" funds that use such strategies as buying foreign securities or bonds to smooth out their performance and aim to earn investors 1 to 7 percent a year above inflation.

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Tags: absolute-return, aim, ambition, bonds, foreign securities, inflation, investment records, investors, mutual-fund-companies, putnam investments, seattle-times