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State Street settles lawsuit, bulks up legal reserve

By Barry B. Burr

State Street Corp. will pay $89.75 million to settle a class-action lawsuit with a group of employee benefit plans invested in certain active fixed-income strategies managed by its SSgA unit.

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Editor’s Pick

Panel: EC proposal could be death knell for some hedge funds

A European Commission draft proposal to strengthen regulations on alternative investment managers would hurt competition, restrict investor choice and put many hedge funds out of business, according to a report commissioned by the European Parliament's Committee on Economic and Monetary Affairs.

By Drew Carter

People

GSAM’s high-yield co-head lands at PIMCO

Andrew Jessop was named executive vice president and high-yield portfolio manager at PIMCO.

By Randy Diamond

Duo joins Strategic Value Partners

Jay Teevan White was named director at credit and distressed debt investment firm Strategic Value Partners and Harold Siegel was named managing director of SVP’s investor relations group.

By Timothy Inklebarger

Booth to help run RS High Yield Bond fund

Kevin Booth was named co-portfolio manager of the $99 million RS Investments High Yield Bond mutual fund.

By Timothy Inklebarger
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Blog Bank

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Charts

  • Fed asset changes 1 of 10
  • The worst of both 2 of 10
  • Smooth sailing for cat bonds 3 of 10
  • Still high on high-yield 4 of 10
  • In the long run we're all dead ... 5 of 10
  • Commodity winners and losers year-to-date 6 of 10
  • Securities lending rate 7 of 10
  • Retail investors lead money market redemptions 8 of 10
  • BlackRock bubble? 9 of 10
  • Who needs a pause to refresh? 10 of 10

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International

Panel: EC proposal could be death knell for some hedge funds

A European Commission draft proposal to strengthen regulations on alternative investment managers would hurt competition, restrict investor choice and put many hedge funds out of business, according to a report commissioned by the European Parliament's Committee on Economic and Monetary Affairs.

By Drew Carter    

Tate & Lyle eyes freeze on U.K. pension plan

Tate & Lyle PLC officials are considering freezing the company's £732 million ($1.2 billion) U.K. pension plan to future accruals beginning in April 2011, according to an interim financial report.

By Thao Hua    

Funding ratio for U.K. pension insurance fund declines

Britain's Pension Protection Fund returned 13.4% for the year ended March 31, but increased claims resulted in a drop in the funding ratio to 88% from 91% the previous year, according to the fund's annual report.

By Thao Hua     View more

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