Worries Peak on Puerto Rico Utilities Debt After New Bankruptcy Law
After debt-restructuring bill’s passage, bondholders watch to see if the commonwealth's electric utility will make Tuesday payment; two fund companies sue to declare law unconstitutional.
New Hire Roundup: BNY Mellon Announces Organizational Changes
Commonfund's president and CEO Verne Sedlacek will step down; Sarr to head ESG investing at Northern Trust Asset Management.
New Hire Roundup: Curian Capital Names Czaicki CIO
Also, the SEC brought in Stephanie Avakian as deputy director of enforcement.
The Retirement Apocalypse That Isn’t Coming
Fears of a looming retirement crisis are overblown, Ben Steverman says in the blog Ventured & Gained.
Some American Funds Clients Vulnerable to Heartbleed Bug
Parent company Capital Group urged 800,000 customers to change account passwords and other information to protect themselves from risk caused by the Heartbleed computer bug.
New Hire Roundup: BrightScope Names Riggio Its First Chief Revenue Officer
Also, Pacific Life announced changes in its sales organization, and Edmond Markel joined Hennion & Walsh.
Bill Gross’ Wild Ride: PIMCO Total Return Fund Bottom of Bloomberg Ranking
The PIMCO Total Return Fund notched the worst risk-adjusted returns among 16 similar funds ranked by Bloomberg.
Vanguard Takes 90% of ETF Inflows in First Quarter
Vanguard added seven times more to ETFs in the first quarter than rest of the U.S. industry combined.
FINRA Examining Trading in New Puerto Rico Bonds
The Financial Industry Regulatory Authority said it’s examining trading in the $3.5 billion of general-obligation bonds that Puerto Rico sold this month.
PIMCO Replaced by TCW as Manager of $1.3 Billion Bond Strategy
The PIMCO Mortgage-Backed Securities Fund will be renamed TCW Core Plus Bond Fund. The decision was made before Mohamed El-Erian's departure, sources said.