MUMBAI, Dec 11- When Franklin Templeton's India unit wanted to launch a mutual fund that would switch allocation among stocks, bonds, gold and money markets, the Indian regulator baulked, deeming it too risky for domestic investors, according to the company.» Read More
NEW YORK, July 29- Prices of U.S. Bank Wealth Management in Kansas, Missouri, said the market would likely trade "in a pretty tight range" unless Friday's employment report "is incredibly weak" and persuades market participants that the Fed won't begin to cut back on its bond purchases until December. "
July 26- A former hedge fund manager pleaded guilty on Friday to defrauding investors in a $12.6 million scheme, more than five years after the fund collapsed under the weight of failed real estate loans.
NEW YORK, July 26- Hedge funds took huge positive bets on U.S. crude oil this week just before the market turned south but they had better luck going long on gold as the precious metal rallied, trade data and price charts showed on Friday.
*Q2 dividend 42 cents per share vs 13 cents per share last year. NEW YORK, July 26- KKR& Co LP said on Friday that its second-quarter earnings declined by 74 percent as a lower appreciation in its private equity funds overshadowed a quadrupling in the cash it received from the profits its funds generated.
July 25- Bloomberg LP is canceling its new wealth management service, BloombergBlack, before it hits the market. For $100 a month, the service was expected to cater to individuals looking to track their investment portfolios- including mutual fund holdings, 401 K retirement plans and college savings plans. Thomson Reuters is a competitor of Bloomberg LP.
NEW YORK, July 25- Federal prosecutors came down hard on billionaire hedge fund manager Steven A. Cohen on Thursday, unveiling criminal fraud charges against his SAC Capital Advisors LP that could put an end to his investment career. Cohen, 57, was not personally charged in either the criminal case or the civil case filed in U.S. District Court in New York.
NEW YORK, July 25- Federal prosecutors on Thursday unveiled criminal fraud charges against billionaire Steven A. Cohen's SAC Capital Advisors LP, capping a nearly seven-year probe into one of Wall Street's most renowned firms. The indictment accused SAC and various affiliates of four counts of securities fraud and one count of wire fraud.
July 25- Legg Mason Inc Chief Executive Joseph Sullivan said the Baltimore asset manager has sold its Private Capital Management equity investment unit to its management team.
*Asia gold funds see quarterly inflows vs $18 bln outflows in western peers. *Paper gold catching up in Asia, where physical metal rules. *India's SBI gold ETF, Japan's Nomura futures fund see qtrly inflows.
*Caterpillar, AT&T hit Dow, Boeing falls after lifetime high. *Facebook, Baidu fly in after-hours trading on results. Caterpillar and AT&T dragged on the Dow following weak results.
July 24- T. Rowe Price Group reported an $8 billion net outflow of investor cash as part of second-quarter results that missed Wall Street expectations, and the asset manager's shares fell on Wednesday.
July 24- Asset manager T. Rowe Price Group said its second-quarter profit rose 20 percent but reported a net outflow of investor cash, sending its stock down 6 percent in premarket trading.
July 24- Asset manager T. Rowe Price Group said its second-quarter profit rose 20 percent but reported a net outflow of investor cash. For the three months ended June 30, T. Rowe Price of Baltimore on Wednesday reported net income of $247.8 million, or 92 cents per share, up from $206.8 million, or 79 cents per share, a year earlier.
Peter Lenardos, director of pan-European financials at RBC, discusses asset managers following RBC's downgrade of Man Group and says that the industry as a whole continues to underperform.
* "A lot of the players had expected the yields to go up after the election," said Tadashi Matsukawa, head of Japan fixed income at PineBridge Investments. " *Prime Minister Shinzo Abe's ruling bloc, with coalition partner New Komeito Party, won decisively in the upper house election held on Sunday.
While the world's rich are getting wealthier and putting more money into private banks, a growing proportion of the cash is from geo-political troublespots in the Middle East and Asia.
ROME, July 21- A senior Catholic prelate arrested last month used his influence at the Vatican to provide private, illegal financial services for rich friends, Italian investigators say in a judicial document.
NEW YORK, July 19- Hedge funds are betting on a big commodity price rebound after a dismal second quarter, with trade data showing bets for higher prices at a near six-month peak after the U.S. Wagers on U.S. crude oil are already at record highs, the weekly data from the U.S. Commodity Futures Trading Commission showed on Friday.
NEW YORK/ SEATTLE, July 19- Members of Microsoft Corp's board have held talks with ValueAct Capital Management LP in recent days over the activist shareholder's demands to secure a seat on the company's board, two sources close to the matter said.
LONDON, July 19- The number of demands to pull money out of hedge funds fell in July as investors took stock after making mid-year adjustments to portfolios the previous month.