Fraud Charges, Arrest for Ex-State Street Transition Managers
Ross McLellan and Edward Pennings are guilty of “brazen fraud” and “backroom plotting” in overcharging transition management clients, US prosecutors claim.
Real estate and infrastructure funds saw a surge in capital raising between July and September—but also record numbers seeking assets.
Highly active fund managers tend to outperform those who buy-and-hold in absolute returns, but researchers found that adjusting for risk reversed their results.