Fund That Lost Billions Moves to Shut Down
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The founder of Amaranth Advisors told investors tonight that withdrawals would be frozen while the fund sells off assets.
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SYDNEY: Directors of a compensation fund for asbestos victims set up by embattled building products group James Hardie Industries said it could run out of money by April and be forced to close down.
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Mortgage giant Freddie Mac announced Monday that it is shutting down some operations of its debt-securities sales division and transferring others - moves that experts said should tighten the company&#39;s internal controls after an accounting scandal.
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Credit Suisse  said it marked down the value of asset-backed investments by $2.85 billion, wiping $1 billion from its net income and sending its shares plummeting.
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Insurance company Prudential Financial Inc. said on Wednesday that it will shut down its institutional stock research and trading business, Prudential Equity Group.
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An Australian hedge fund felled by its exposure to risky credit derivatives filed for bankruptcy protection in the United States, and liquidators on Thursday were assessing how much money, if any, would be returned to investors.
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US mutual fund assets fell 2 percent to $7.4 trillion last month, as declining equity markets reduced the value of stock funds, according to a survey conducted by the Investment Company Institute.
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Funds can bring you a world of hurt, so be careful.
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Assets of the nation&#39;s retail money market mutual funds fell by $4.03 billion in the latest week to $828.98 billion, the Investment Company Institute said Thursday.
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After a $7.9 billion write-down, what's next for the financial powerhouse?
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Fidelity Investments will close its fast-growing $17.8 billion Diversified International fund to new purchasers at the close of business Oct. 25.
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Citigroup Alternative Investments is shutting down the hedge fund as its new leader, Vikram S. Pandit, puts his stamp on the long-overlooked division.
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Assets of the nation's retail money market mutual funds fell by &#36;1.92 billion in the latest week to &#36;829.07 billion, the Investment Company Institute said Thursday.
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Credit Suisse  said it marked  down the value of asset-backed investments by $2.85 billion,  wiping $1 billion from its net income and sending its shares  plummeting.
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How investors fare when closed funds start taking new money again.
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Withdrawal woes continue to plague the mutual fund manager.
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Investor's Business Daily - Investors yanked $9.99 billion from mutual funds focused on U.S. stocks in May, even as the market bobbed and weaved to higher ground.