Simon Treacher, the former manager of BlueBay Asset Managementâ??s emerging markets fund, has been fined £140,000 and banned from the industry for falsifying valuations and misleading investigators from the FSA.
Commerzbank winds down fund of hedge funds arm (Fund News)
Commerzbank AG has wound down its $1 billion fund of hedge funds management business, Comas (Commerzbank Alternative Investment Strategies), after abandoning a sale process run by Goldman Sachs. The bank has returned the assets to investors and let the team go.
BlackRock, the worldâ??s largest asset manager with $3,350bn under management, on Wednesday reported a sharp jump in fourth-quarter income. Boosted by the rebound in financial markets and new fund inflows, net income rose to a higher-than-expected $256m in the quarter from $52m in the same period last year.