Variable Annuity Sales Hit Record $128.4 Billion In 2004
By Rick CareyLink to charts: Top 25 Variable Annuity Issuer Sales, Top 25 Variable Annuity Contract SalesNew variable annuity sales of $128.4 billion for the full year ...
February 22, 2005
Paulson Hires Business Development DirectorNEW YORK (HedgeWorld.com)--Paulson & Co. has named Philipp Levy managing director for business development, a new position at the firm. Mr. Levy is responsible for strategic business development and asset raising for the firm's event arbitrage strategy. He reports to Dennis Pollack, chief operating officer. "We are seeing significant interest...
February 22, 2005
Report Sees High-Net-Worth'ers Drifting to Wealth ManagersLONDON (HedgeWorld.com)--Wealthy folks may not be going for brokers as much as they used to. The shaky condition of the traditional investment market in recent years is steering high-net-worth individuals away from a transactional model of investment and toward a more comprehensive, private banking-centered approach, according to a survey and...
February 22, 2005
New S&P DTI Fund Coming from RydexROCKVILLE, Md. (HedgeWorld.com)--Rydex Investments, an investment advisory firm, is preparing the launch of a registered fund that will track the performance of the Standard & Poor's Diversified Trends Indicator. The S&P DTI is a benchmark for trends in the commodity and financial futures markets, designed by Alpha Financial Technologies LLC,...
February 22, 2005
CalPERS' Hedge Fund Investments Return 8.9% in 2004SACRAMENTO, Calif. (HedgeWorld.com)--Thanks in part to its hedge fund investments, the California Public Employees' Retirement System earned a 13.5% return in 2004 and grew by US$21.5 billion to US$182.9 billion. The growth in assets means CalPERS is bigger than it's ever been and by far the largest public pension fund...
February 22, 2005
SEC Moves to Freeze Northshore AssetsCHICAGO (HedgeWorld.com)--In an emergency action filing, the U.S. Securities and Exchange Commission is requesting a freeze on Northshore Asset Management LLC's assets. The commission alleges that the firm committed fraud in diverting US$37 million in two hedge funds. The case follows reported investor complaints and the arrest of former Northshore...
February 22, 2005
Phoenix Unit Hires Strategic AdvisorNU Online News Service, Feb. 22, 2005, 3:40 p.m. ESTThe asset-management unit of a Hartford insurer has retained a consulting firm.[@@]The money manager, Phoenix ...
February 22, 2005
UnumProvident Updates Critical Illness, STD PoliciesNU Online News Service, Feb. 22, 2005, 4:54 p.m. ESTA Chattanooga, Tenn., insurer is giving the workers who buy some of its products more ...