WASHINGTON, May 22- Pension funds- those old guaranteed-benefit retirement plans your grandma might have told you about- outperform those in 401 plans year after year, according to new research from consulting company Towers Watson.» Read More
Mesh Tandon, the head of Simran Capital Management, neither admitted nor denied the findings by the U.S. Securities and Exchange Commission. The SEC said he will pay $121,698 in penalties, interest and disgorgement of ill-gotten gains.
BOSTON/ NEW YORK, April 18- Hedge fund manager. John Paulson's Advantage Fund is losing money again this month in the wake of a sharp selloff in gold, a source familiar with the numbers said on Thursday.
*Spain sees successful debt sale on rate cut hopes. NEW YORK, April 18- Stock markets around the world dipped on Thursday, fluctuating between gains and losses as investors worried about the economic outlook following weak U.S. data but also looked for a rebound from recent declines.
NEW YORK, April 18- Morgan Stanley's wealth management business plans to grow revenue by lending more of its customer deposits, but the bank is growing its loan book slowly to avoid taking on excessive risk, Chief Financial Officer Ruth Porat said on Thursday.
BOSTON, April 18- Hedge fund manager John Paulson's Advantage Fund is losing money this month in the wake of a sharp sell-off in gold. Paulson's Advantage Fund, one of the $18 billion firm's best-known portfolios, has lost 2.4 percent in the first two weeks of April but is still up for the year, a source familiar with the numbers said on Thursday.
April 18- Blackstone Group LP, the world's largest alternative asset manager, reported a 28 percent rise in first-quarter profit on Thursday as its real estate, private equity, credit and hedge fund units successfully sold assets. This translates into 55 cents per share, a penny above the average forecast of analysts polled by Thomson Reuters.
*Adj EPS 61 cents vs Street view 57 cents. April 18- Morgan Stanley reported a stronger-than-expected first-quarter profit of $958 million, compared with a year-earlier loss of $119 million, as its wealth management business grew.
April 18- Blackstone Group LP, the world's largest alternative asset manager, reported on Thursday a 28 percent rise in profit in the first quarter of 2013, as its private equity, real estate, credit and hedge fund units successfully sold assets.
*First-qtr profit $958 bln vs loss $119 mln a year earlier. April 18- Morgan Stanley reported a stronger-than-expected first-quarter profit of $958 million, compared with a year-earlier loss of $119 million, as its wealth management business grew.
The SEC said he will pay $121,698 in penalties, interest and disgorgement of ill-gotten gains. The SEC said that Tandon misled CalPERS in 2008 when he told the pension fund that his firm satisfied its minimum assets under management requirements- a key metric used by CalPERS when screening for prospective advisers.
-For the week ended on April 10, outflows from Russia- dedicated funds totaled $393 million, according to data from Boston- based fund-tracking firm EPFR Global.
LOS ANGELES, April 17- The tiny California city of Canyon Lake has served notice on the state's pension fund that it wants to quit the plan, at a time when cities across the state and the United States are looking at ways to rein in soaring retirement costs. Canyon Lake in southern California is a city of 11,000 people.
*Lipper data shows India focused equity fund net outflows of $7 bln in 2012. Chidambaram is in the United States seeking foreign investment for India's ailing economy, the third-largest in Asia, before making his way to Washington for the annual spring meetings of the International Monetary Fund and World Bank.
April 17- The California State Teachers' Retirement System said on Wednesday it had not seen details of a plan by Cerberus Capital Management LP fund managers to bid for gun maker Freedom Group but that it understood Cerberus had to explore several options.
April 17- Bank of America Corp's revenue fell across almost all its businesses in the first quarter, and the bank was hit yet again by mortgage mess cleanup costs, showing the difficulties Chief Executive Brian Moynihan faces in moving past the housing crisis. Bank of America shares closed down 4.7 percent at $11.70 on Wednesday.
*Morgan Stanley had biggest team defections in first quarter. Roughly half of the $23 billion assets were managed by advisers who departed Morgan Stanley's wealth management unit. "This is not a prime recruiting environment right now," said San Diego- based financial services recruiter Ron Edde, of Millennium Career Advisors.
April 17- Bank of America Corp revenue fell across almost all its businesses in the first quarter, and the bank was further hit by a legal settlement for mortgages, highlighting the difficulties Chief Executive Brian Moynihan faces in moving past the housing crisis.
April 17- Bank of America Corp's global wealth and investment management division, largely composed of its Merrill Lynch retail operations, was a bright spot for the No. 2 U.S. bank, which reported lower-than-expected overall results on Wednesday.
LONDON, April 17- A forecast surge of Japanese cash into euro zone government bonds may be months away but will drive down already depressed borrowing costs across the bloc, say asset managers positioning for its arrival.
*Gulf economies strong, markets picking up. DUBAI, April 17- Across much of the Middle East, economic growth is strong and financial markets are picking up.