Monthly Archives: February 2004
MFS agrees to settlement
MFS agrees to settlement Fund to pay $350 million in trade scandal By JUSTIN POPE Associated Press Friday, February 6, 2004 Boston — The company credited with inventing the mutual fund 80 years ago was formally swept up in the […]
Fund abuse scandals hit new low
Daniel Calugar was what they call a whale. He was the biggest of the big fish (OK, whales are mammals) in an open sea where the small fish, as we now know, don’t really matter all that much. But in […]
Brit Energy meltdown after hedge fund sells
AN AMERICAN hedge fund which mysteriously appeared on British Energy’s share register last Friday as the owner of a 4.56 per cent stake just as swiftly disappeared yesterday, netting a pounds 1.4mprofit. Apaloosa Investment Management, which bought 28 million shares […]
Shares And Market Report: Market Movers
bICI 220.25p (up 6.25p, 2.9 per cent). HSBC Securities upgrades to “add” from “reduce” following forecast-busting fourth quarter numbers from the chemicals giant. bSmith & Nephew 498.5p (up 13.5p, 2.8 per cent). Hits its full year profit targes and issues […]
Ex-Chicago Options Trader Convicted of Securities Fraud
Feb. 6–A federal jury on Thursday convicted former Chicago options trader Edward Thomas Jung on 10 counts of wire and securities fraud for bilking dozens of investors out of more than $21 million. Jung’s wife, Diane Juergens, fell to her […]
Venture Firm Relocates to Wakefield, MA Improving Accessibility to Investors and Portfolio Companies
WAKEFIELD, MA February 6, 2004 — Brook Venture Partners, a venture capital firm investing in early expansion stage companies and currently raising Brook Venture Fund II, announces today it has movedits corporate office to Wakefield, MA. The new location provides […]
Longship Capital Management Launches a Multi-Strategy Fund
WEST PALM BEACH, FL (HEDGECO.NET) – Longship Capital Management has announced the launching of its new hedge fund product, a Multi-Strategy Debt Fund. According to the press release, the fund isaimed at investors seeking to allocate capital to fixed income […]
CFTC to Subpoena Trading Records of Some Hedge Funds
WEST PALM BEACH, FL (HEDGECO.NET) – The Commodities and Futures Trading Commission, [CFTC] has subpoenaed the trading records of some hedge funds, in connection with its new investigations into theskyrocketing of natural gas prices last December. The CFTC is the […]
Has Cullen run out of options?
SO NOW we know what Finance Minister Michael Cullen’s options are to curb the high dollar. Sort of. It has been a long journey to revelation since November 5 when Doctor No told a parliamentary committee that he had unnamed […]
Fund scandal spreads to Franklin’s parent firm
BOSTON (AP) — In the latest legal blow to a major mutual fund company, Massachusetts regulators accused the parent company of Franklin Templeton Investments of fraud Wednesday, alleging the firm leta Las Vegas businessman make $45 million worth of improper […]
Scottish Power profits up by pounds 6m
ENERGY group Scottish Power, which owns Merseyside electricity supplier Manweb, has lifted third quarter profits by pounds 6m. The company also revealed UK customer numbers had hit 4m for the first time. The Glasgow-based group, which operates power networks as […]
Investors Pull Plug on Shady Hedge Funds
NEW YORK (AP) – Investors fled hedge funds accused of shady trading practices in droves last year as their strategies came under intense scrutiny from regulators, according to a survey. The funds saw $1.8 billion, or nearly half of their […]