Gartmore to lose flagship investment trust (Fund News)
Gartmore is braced to lose Gartmore Growth Opportunities (GGO), one of its flagship investment trusts, as the fallout from the departure of leading fund manager Gervais Williams continues.
Alliance Trust sells part of UK equity portfolio (Fund News)
Alliance Trust, the UKâ??s largest listed investment trust, said it had sold off £140m from its UK equity investment portfolio during the past six months, shifting £166m in cash in its pan-Asian fund and £124m to a general emerging market fund.
3i is paying £18.3m for Mizuho Investment Management (MIM), which was founded in 2005 by the Japanese bank to invest third-party money in senior and subordinated corporate debt, including collateralised loan and debt obligations (CLOs and CDOs).
A former Chicago hedge fund manager has been accused of swindling clients out of about $25m, most of which he spent paying himself and on things like insurance for his airplane, alleges Colorado Deputy Securities Commissioner Gerald Rome.