Announcement of Allianz Global Investors Fund Management LLC (Press Releases)
Allianz Global Investors Fund Management LLC ("AGIFM"), investment manager to PIMCO High Income Fund (NYSE:PHK) (the "Fund"), announced today that effective November 13, 2009, the Fund's non-fundamental investment policy regarding minimum investment in below investment grade securities will be revised.
Banks should not be allowed to own hedge funds or equity funds and their trading activity should be limited, former Federal Reserve Chairman Paul Volcker said in an interview with Il Sole 24 Ore on Thursday.
Pension shortfalls in the UK near £200bn (Fund News)
According to the Pension Protection Fund??s 7800 Index, a monthly tracker of the total assets and liabilities of schemes where benefits are insured, the total deficit of schemes with shortfalls stood at £194.6bn at the end of August, up from £179bn a month earlier. The PPF said that 85 per cent of all UK schemes were in deficit.
The SEC's internal watchdog has concluded that the agency missed many chances to expose Bernard Madoff??s giant ??Ponzi? scheme because the staff either did not know what to do or failed to follow up on detailed complaints.