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  • Cash withdrawals totaled $150 billion from Pimco's U.S. open-end mutual funds in 2014. In January, investors pulled $11.6 billion from the Pimco Total Return Fund. 'said Mendel Melzer, chief investment officer for The Newport Group, a Heathrow, Florida- based consultant to institutional investors, including 400 retirement plans, with $21 billion in assets...

  • NEW YORK, Feb 5- Undaunted by the popularity and outperformance of index-tracking investments, mutual fund companies last year rolled out 193 new actively managed stock funds, many with some highly colorful concepts. Last year, passive funds brought in $166 billion in new investor dollars, while investors pulled $98 billion out of traditional funds run by...

  • NEW YORK, Feb 5- William Gerber, chief financial officer of TD Ameritrade Holding Corp for the last eight years, will receive a $2.5 million retirement package when he leaves the discount brokerage firm at the end of September, the company said in a quarterly regulatory filing on Thursday. Gerber, 56, began his career at TD Ameritrade in 1999 as director of finance...

  • UPDATE 1-LSE puts Russell Investments up for sale Thursday, 5 Feb 2015 | 12:55 PM ET

    LONDON, Feb 5- The London Stock Exchange Group said on Thursday it would sell Russell Investments, the asset management arm of the Frank Russell Co business which it acquired for $2.7 billion last year. The exchange beat a number of interested buyers, including the Canadian Imperial Bank of Commerce and a handful of private equity firms, sources told Reuters last...

  • LSE puts Russell Investments up for sale Thursday, 5 Feb 2015 | 12:28 PM ET

    LONDON, Feb 5- The London Stock Exchange Group said on Thursday it would sell Russell Investment, the asset management arm of the Frank Russell Co which it acquired for $2.7 billion last year. LSE said in a statement on Thursday it was launching a sale process, after already having received a number of expressions of interest in the unit. Reuters reported in January...

  • NEW YORK, Feb 5- SilverRange Financial Partners and the local union at the oil refinery in Come By Chance, Newfoundland, Canada, have come to an impasse over a new contract, and a mid-March strike looms unless the two sides can break the deadlock, the union's chief negotiator said Thursday. SilverRange is a New York- based merchant bank run by veteran energy traders,...

  • Feb 5- Investment bank and asset manager Lazard Ltd reported a better-than-expected quarterly profit as a jump in corporate dealmaking boosted M&A advisory fees. Lazard's M&A and other advisory fees rose 17 percent to $297.2 million in the fourth quarter ended Dec. 31, from a year earlier. Among the deals Lazard advised on during the quarter were specialty...

  • Feb 4- Active investors are the hidden beneficiaries of the rise of index funds. Regardless of whether you believe in the value of active asset management, a new study of the global experience shows that the growth of index funds tends to make active funds more truly active and better performers. This finding is consistent with the idea that enhanced competition...

  • Jefferies CEO Richard Handler turns down bonus Wednesday, 4 Feb 2015 | 3:35 PM ET

    Feb 4- Richard Handler, the chief executive of Leucadia National Corp, parent of investment bank Jefferies Group LLC, turned down his bonus for the previous year, which was dogged by lackluster performance. Handler, also the CEO of Jefferies, was entitled for a performance-based cash bonus of $2.2 million for the year ended Nov. 30, Leucadia said in a regulatory...

  • ZURICH, Feb 4- Swiss bank UBS is hiring former ING executive Eli Leenaars a vice-chairman of its flagship private bank, in a bid to win new clients among the ultra wealthy. "Eli has built up a substantial and worldwide network of contacts right across the industry which he is keen to leverage for UBS," UBS private bank head Juerg Zeltner wrote in a memo to staff on...

  • DIARY- Top Economic Events to Feb 17 Tuesday, 3 Feb 2015 | 7:01 PM ET

    CALIFORNIA- Andrew Gracie, Bank of England's executive director for resolution, speaks at the FIA-SIFMA asset management derivatives forum- 1200 GMT. COLUMBUS- Federal Reserve Bank of Cleveland President Loretta Mester speaks on the economy before the Ohio Bankers League annual economic summit- 1745 GMT. LONDON- Bank of England holds monetary policy...

  • NEW YORK, Feb 3- Credit Suisse Group is getting out of the U.S. equity retail market-making business by the end of the first quarter after failing to gain enough scale to justify continuing, the bank confirmed on Tuesday. The decision was part of Credit Suisse's ongoing review of its investment banking business and does not affect the rest of its retail execution...

  • Feb 3- DuPont has interviewed activist investment firm Trian Fund Management LP's slate of directors, including its founder Nelson Peltz, according to people familiar with the matter, a step that could lead to a compromise with the chemical company over the composition of its board. Trian has put John Myers, Arthur Winkleblack, Robert Zatta and Peltz forward for...

  • Feb 3- Activist investor Mick McGuire said Tuesday Lear Corp's stock price could surge by nearly 50 percent if the auto supplier splits into two publicly traded companies, a proposal that Lear's management said it was considering. McGuire's $3- billion hedge fund Marcato Capital Management, which owns 4.6 percent of Lear's shares, proposed dividing the auto...

  • Feb 3- U.S. brokerage firms and financial advisers are a routine target of cyber criminals and some have lost money as a result of fraudulent emails requesting transfers of client funds, the U.S. Securities and Exchange Commission said in a report. Cybersecurity is a growing concern for business, as highlighted by recent hacking incidents at Home Depot Inc, Sony...

  • NEW YORK, Feb 2- DoubleLine Funds, an investment firm that has been a major competitor to bond fund Pimco, whose co-founder Bill Gross was fired last year, on Monday reported a monthly record net inflow in January of $3.04 billion. The Los Angeles- based firm, whose co-founder Jeffrey Gundlach is Gross's fiercest rival in the bond market, said the previous strongest...

  • RIYADH/ KHOBAR, Saudi Arabia, Feb 2- Several of Saudi Arabia's largest listed companies said on Monday they would pay out hundreds of millions of dollars in bonuses, days after the new king ordered a handout to Saudi state employees to mark his accession. Saudi Arabia has sold minority stakes in big state firms and listed them on its bourse partly to expose them to...

  • ZURICH, Feb 2- Swiss bank Julius Baer plans to cut around 100 million Swiss francs of costs, including about 200 jobs, it said on Monday, blaming the recent surge in the Swiss currency. Private bank Julius Baer, which employs around 5,250 staff worldwide, said it aimed to cut both personnel and general costs. Zurich- based Baer said adjusted net profit in 2014 rose 22...

  • Wilmington, Del., Jan 30- Hedge funds lost a court bid to get extra cash for their shares of online family research site Ancestry.com Inc, in a ruling involving an increasingly popular hedge fund strategy. A Delaware judge ruled on Friday that a private equity firm paid a fair value of $32 per share in 2012 to acquire Ancestry.com and rejected hedge fund claims the...

  • Wilmington, Del., Jan 30- A Delaware judge ruled on Friday that a private equity firm paid a fair value of $32 per share to acquire Ancestry.com Inc and rejected hedge fund claims the price should have been as high as $47 per share. The online family research company was sold to European private equity firm Permira Advisors in 2012. The private equity firm paid 40...