The Indian government is reportedly considering a proposal to allow mutual funds to float special schemes, in which part of the corpus or total assets can be invested abroad. The new scheme under consideration will fall under a pending proposal
SEBI has extended the deadline for the implementation of the guideline for mutual funds, which specifies a minimum requirement of 20investors per mutual fund scheme or plan, and that no single investor should account for more than 25% of the
Fixed income trading volume in Asia grew three fold from 2001 to 2004, and fixed income assets under management by Asian investors soared some 65% over the past 12 months, Greenwich Associates said in a report. With this growth, electronic
The NASD has collected a record $102 million in fines in 2004, more than triple the 2003 amount. In 2004, the NASD reported 1,360 new disciplinary actions filed, compared to 1,410 in 2003 1,293 resolved, compared to 1,324 23 firms
The Indian Securities Markets Infrastructure Leveraging Expert (SMILE) Task Force constituted by SEBI, has submitted its second report on 'Infrastructure and Process Flows for Enhancing Distribution Reach in the Mutual Fund Industry' Further to its first report with respect to
Moody's Investors Service upgraded the ratings of four classes and affirmed the ratings of three classes of Asset Securitization Corporation, Commercial Mortgage Pass Through Certificates, Series 1996 D3. The changes are as follows Class A 1C, $292,360,714, Fixed, affirmed at
The UK based Foresters Friendly Society says it will launch a Child Trust Fund next year, as part of a government backed scheme to increase the savings of children. From January, vouchers for £250 will be sent to parents of
As expected, the state of California is suing brokerage Edward D. Jones & Co. for improper marketing of mutual funds. The State criticized a $75 million settlement deal between the company and other regulators. California Attorney General Bill Lockyer says
Norwich Union has been chosen by Leeds & Holbeck Building Society as its sole provider of general insurance, starting on 1 January 2005. "We have a strong relationship with Leeds & Holbeck that goes back more than 30 years, and
ABN AMRO Asset Management has sold Chicago based ABN AMRO Trust Services Company to The Principal Financial Group. ABN AMRO Trust Services Company provides full service defined contribution recordkeeping and investment services in the US, administering approximately 300 employer sponsored