Blog
June 18, 2008
One of Citigroup’s much-beleaguered Falcon Strategies hedge funds has been given the green light to move forth with a tender offer initiated in May as part of its wind down. As reported June 17 on Bloomberg.com, a New York federal judge rejected a request by investors to halt the tender offer of the Falcon Strategies […]
March 24, 2008
The investing public and Wall Street has surely made note of the recent bailout of megabank, Citigroup’s, Asta and Mat hedge funds due to uncertainty in the once-safe municipal bond market. The latest news brings one more warning to be wary of hedge funds whether you invest in them or manage them. According to Financial […]
December 28, 2007
On December 28, 2007 Bloomberg news reported: “The worst-performing bond fund was the $190 million Regions Morgan Keegan Select high Income, which plunged 59 percent because of losses tied to subprime mortgages. It’s managed by Jim Kelsoe at Morgan Asset Management Inc. in Memphis, Tennessee. The Morgan Keegan bond mutual funds are “worst in class” […]
December 12, 2007
Last week, an Indiana charity that “makes wishes come true” for children with life threatening illnesses filed arbitration claims over sub-prime related losses it allegedly suffered in a bond fund managed by Regions Morgan Keegan. The Indiana Children’s Wish Find claimed that it lost $48,000 or 22% of its $220,000 investment in the Regions Morgan […]
December 11, 2007
Columbia Management, a unit of Bank of America Corp., has closed its Strategic Cash Portfolio amid losses on asset-backed securities. According to the Wall Street Journal, the fund is currently valued at $12 billion, down from $40 billion just months ago. Bank of America closed this fund just weeks after announcing that it had set […]