Latest Trusts and fund management News

China announces timetable for opening finance industries

Oct. 11, 2019 7:51 AM EDT

BEIJING (AP) — China announced a timetable Friday for carrying out a promise to allow full foreign ownership of some finance businesses, starting with futures traders on Jan. 1, as Beijing tries to make its slowing economy more competitive and efficient. Ownership limits will be ended for mutual fund...

Stock-picking fund managers are clawing back. Can it last?

Sep. 12, 2019 10:36 AM EDT

NEW YORK (AP) — Mutual fund managers are making the most of the shaky stock market, which has provided them an opportunity to prove themselves and lure back investors who dumped them in recent years. Nearly half of all actively managed U.S. stock funds turned in better returns than their average index-fund...

Elliott invests $3.2B in AT&T, seeks changes

Sep. 9, 2019 10:53 AM EDT

NEW YORK (AP) — Activist hedge fund manager Elliott Management is making a new $3.2 billion investment in AT&T, roughly a 1% stake, and calling for changes at the company such as selling assets and paying down debt. The move comes as AT&T readies a streaming service following its $81 billion...

Ex-drug company CEO Martin Shkreli sues former investor

Sep. 6, 2019 5:02 PM EDT

NEW YORK (AP) — Convicted former drug company CEO Martin Shkreli sued the son of one of his investors Friday in a dispute over losses from one of his failed hedge funds. The suit, filed in federal court in Brooklyn, claims that after investor George Yaffe lost a $100,000 investment in one of Shkreli's...

International organization set to meet in Juneau next week

Sep. 4, 2019 2:09 PM EDT

JUNEAU, Alaska (AP) — Representatives of more than 30 nations will attend a meeting of the International Forum of Sovereign Wealth Funds that is taking place in Juneau next week. The gathering is the first time the voluntary global organization's annual conference has met in the United States, the Juneau...

Billionaire Democratic hopeful Steyer releases his taxes

Aug. 29, 2019 7:29 PM EDT

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 tax...