Tuesday, 30 September 2014
Last updated 1 hour ago
Nov 23 2009 | 6:11am ET
Accused of running a hedge fund instead of the promised “conservative” strategy, OppenheimerFunds has settled a lawsuit filed by Oregon.
The MassMutual division agreed to pay $20 million to settle a $36 million claim against it. Oregon alleged that Oppenheimer, which it had contracted to run its 529 college savings program, advertised the plan as conservative, but then put the money into risky and speculative investments. Eight of Oregon’s 15 college investment portfolios suffered losses in Oppenheimer’s Core Bond Fund.
The $20 million in settlement money will be distributed to 529 plan participants.
Oppenheimer did not admit any wrongdoing as part of the settlement.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...