New York AG Schneiderman finally flexes muscles against Wall Street
NEW YORK (Reuters) - New York Attorney General Eric Schneiderman, long seen as a secondary force in policing Wall Street banks, is taking the lead in what may be the...
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Junk muni funds shine from land, leverage and Detroit sewer bets
(Reuters) - After Detroit filed for bankruptcy last summer, portfolio managers at Eaton Vance municipal bond funds saw a gem hidden in the plumbing of the beleaguered Midwestern city. As...
U.S. stock fund costs fall; money market fee waivers hit $5.8 billion
(Reuters) - U.S. stock fund expenses fell 4 percent last year while the sponsors of money market funds waived $5.8 billion in fees to shield investors from negative returns, an...
Junk bond fund yields trounce peers as managers buy stocks to boost returns
BOSTON (Reuters) - If you're looking for top performing U.S. junk bond funds, pick one that's maxed out in stocks. Bond-fund managers at Loomis Sayles, Fidelity and Eaton Vance are...
Fidelity Contrafund cut Yahoo stake by 28 percent in first quarter
BOSTON (Reuters) - Fidelity Investments' Contrafund, the largest mutual fund shareholder in Yahoo Inc, slashed its stake in the Internet company by 28 percent in the first quarter, according to...
Exclusive: Fidelity’s Danoff looks beyond tech stocks as performance lags
BOSTON (Reuters) - Will Danoff, who runs Fidelity Investments' behemoth Contrafund, is frustrated by his lagging performance this year and is pruning his exposure to cloud software stocks that got...
Fidelity biotech fund among worst performers in April sell-off
BOSTON (Reuters) - One of the biotechnology sector's worst two-week declines in the past decade has clobbered one of Fidelity Investments' hottest funds. The $9.4 billion Fidelity Select Biotechnology Fund...
GM is late delivering ignition switch fix to dealers
(Reuters) - General Motors Co is running two days behind Chief Executive Mary Barra's plan to begin shipping replacement ignition switches in its massive recall, dealerships and the company said...
BNY Mellon’s Arledge faces scrutiny as Main Street strategy lags
BOSTON (Reuters) - BNY Mellon Corp's investment management chief Curtis Arledge is on the hot seat. More than three years after the world's largest custody bank paid big money to...
Former Fidelity executive poses new challenge to 401(k) unit
BOSTON (Reuters) - Robert Reynolds, a former Fidelity Investments executive, wants to become a formidable rival to the largest U.S. 401(k) recordkeeper. Reynolds, who runs Great-West Lifeco U.S. Inc, said...