Trusts and fund management

FILE - This May 22, 2020 photo shows the Federal Reserve building in Washington. The Federal Reserve and four other bank regulatory agencies announced on Thursday, June 25, that they have finalized a rule that will ease restrictions curtailing the ability of banks to make investments in such areas as hedge funds. The announcement of the easing of regulations know as the “Volcker Rule” gave an immediate boost to bank stocks because the rule change could free up billions of dollars in capital in the banking industry.(AP Photo/Patrick Semansky, File)
June 25, 2020 - 1:59 pm
WASHINGTON (AP) — The Federal Reserve and four other regulatory agencies announced on Thursday that they have finalized a rule that will ease restrictions curtailing the ability of banks to make investments in such areas as hedge funds. The announcement of the easing of regulations know as the “...
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February 18, 2020 - 8:24 am
SAN MATEO, Calif. (AP) — Franklin Resources is buying competitor Legg Mason for $4.5 billion, creating a financial company with a combined $1.5 trillion in assets under management. Franklin Resources Inc., which operates as Franklin Templeton, said Tuesday that it will pay $50 for each Legg Mason...
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December 04, 2019 - 5:07 pm
NEW YORK (AP) — A hedge fund manager whose company paid $1.8 billion in U.S. criminal and civil settlements is in negotiations to increase his stake in the New York Mets, who left open the possibility he eventually could become controlling owner. The team said Wednesday the deal between Sterling...
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FILE - In this Aug. 11, 2019, file photo, Democratic presidential candidate and businessman Tom Steyer waits to speak at the Des Moines Register Soapbox during a visit to the Iowa State Fair in Des Moines, Iowa. Tax records released by Steyer show he made well over a billion dollars over the last decade. (AP Photo/Charlie Neibergall, File)
August 29, 2019 - 7:29 pm
WASHINGTON (AP) — Democratic presidential candidate Tom Steyer made well over a billion dollars over the last decade from holdings that not only include the hedge fund he founded, but also investments in Chinese private equity firms, tech startups, pharmaceutical companies and nursing homes, his...
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Founder of the Baring Vostok investment fund Michael Calvey looks through a cage's class in the court room in Moscow, Russia, Saturday, Feb. 16, 2019. A Moscow court has ordered Baring Vostok's founder Michael Calvey to be kept in custody until April 13, 2019. (AP Photo/Alexander Zemlianichenko)
February 21, 2019 - 11:29 am
MOSCOW (AP) — The United States Embassy in Moscow has called on Russian authorities to allow its staff to visit a U.S. investment fund manager who has been jailed pending a fraud investigation. Michael Calvey, founder and senior partner at the Baring Vostok equity firm, was detained last week and...
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February 15, 2019 - 6:46 am
MOSCOW (AP) — A veteran U.S. investment fund manager was detained in Moscow on Friday and faces fraud charges. Michael Calvey, founder and senior partner at Baring Vostok equity firm, was detained alongside two other fund managers in the morning, and a Moscow court is expected to rule on their...
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FILE- This Aug. 17, 2010, file photo shows William H. Gross founder and Managing Director of PIMCO at the Conference on the Future of Housing Finance at the Treasury Department in Washington. Janus Henderson Investors says that "Bond King" William H. Gross is retiring to concentrate on his personal assets and private charitable foundation. The 74-year-old Gross will retire on March 1. (AP Photo/Pablo Martinez Monsivais, File)
February 04, 2019 - 2:39 pm
DENVER (AP) — William H. Gross, the famed and colorful bond investor who once controlled the world's largest mutual fund, is closing his professional career of more than 40 years and retiring to focus on managing his personal assets and private charitable foundation. Gross, 74, was nicknamed the "...
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FILE - In this Tuesday, May 20, 2008, file photo, John Bogle, founder of The Vanguard Group, talks during an interview with The Associated Press, in New York. Vanguard announced Wednesday, Jan. 16, 2019, that John C. "Jack" Bogle has died at the age of 89. (AP Photo/Mark Lennihan, File)
January 16, 2019 - 8:39 pm
VALLEY FORGE, Pa. (AP) — When he lost his job running a mutual fund company after stocks tanked in the early 70's, John C. Bogle decided that money managers knew very little about predicting the market — and charged way too much for that lack of knowledge. He founded a new fund company, Vanguard,...
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FILE - In this Tuesday, May 20, 2008, file photo, John Bogle, founder of The Vanguard Group, talks during an interview with The Associated Press, in New York. Vanguard announced Wednesday, Jan. 16, 2019, that John C. "Jack" Bogle has died at the age of 89. (AP Photo/Mark Lennihan, File)
January 16, 2019 - 6:31 pm
VALLEY FORGE, Pa. (AP) — John C. Bogle, who simplified investing for the masses by launching the first index mutual fund and founded Vanguard Group, died Wednesday, the company said. He was 89. Bogle did not invent the index fund, but he expanded access to no-frills, low-cost investing in 1976 when...
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In this Nov. 2, 2018 photo, a sign in the window at Sears promises that "This isn't goodbye," at the Livingston Mall in Livingston, N.J. Sears is closing 80 more stores as it teeters on the brink of liquidation. The 130-year old retailer set a deadline of Friday, Dec. 28, 2018 for bids for its remaining stores to avert closing down completely. (AP Photo/Ted Shaffrey)
December 29, 2018 - 1:03 am
NEW YORK (AP) — Sears Chairman Eddie Lampert's hedge fund said it submitted a last-minute bid Friday valued at $4.4 billion to keep the struggling retailer from being liquidated. Transform Holdco LLC, an affiliate of the ESL Investments hedge fund that Lampert heads, said it hoped to keep 425...
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