Archive forFinance News

Dubai developer takes on additional operations (AP)

Dubai is giving oversight over a sprawling complex of partially built high-rises to the struggling developer of the sheikdom’s palm-shaped islands, as the government works to bring its skidding property market under control.

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Brookstone Partners Launches Brookstone Partners Asset Management (PR Newswire)


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SS&C Acquires MAXIMIS Business from Unisys (Business Wire)

WINDSOR, Conn.—-SS&C Technologies, Inc. , a global provider of financial services software and software-enabled services, today announced it has acquired the assets and related business associated with Unisys Corporation’s MAXIMIS software, investment accounting software designed to meet the regulatory and management reporting needs of large finance and insurance companies and public pension funds.

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Neuberger Berman Closed-End Funds Announce Preliminary Results of Tender Offers (Business Wire)

NEW YORK—-Neuberger Berman California Intermediate Municipal Fund Inc. , Neuberger Berman Dividend Advantage Fund Inc. , Neuberger Berman High Yield Strategies Fund , Neuberger Berman Income Opportunity Fund Inc. , Neuberger Berman Intermediate Municipal Fund Inc. , Neuberger Berman New York Intermediate Municipal Fund Inc. and Neuberger Berman Real Estate Securities Income Fund Inc. each announced today the preliminary results of its tender offer.

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Piedmont Community Bank Group, Inc. Announces First Quarter Results (Business Wire)

GRAY, Ga.—-Piedmont Community Bank Group, Inc. today announced a consolidated net loss of approximately $178,000 for the quarter ended March 31, 2009 as compared to a consolidated net income of approximately $30,000 for the first quarter of 2008.

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Fortress Approved to Manage D.B. Zwirn & Co. Funds (PR Newswire)

Fortress Investment Group LLC today announced that the Company has replaced D.B. Zwirn & Co., L.P. as the manager of D.B. Zwirn’s funds and accounts. These funds will be renamed the Fortress Value Recovery Funds I.

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Fitch Affirms ‘AAA/V1+’ Ratings of Two Fifth Third Money Market Funds (Business Wire)

NEW YORK—-Fitch Ratings affirms the following ratings assigned to two money market funds managed by Fifth Third Asset Management :

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Scout Investment Advisors, Inc. Repositioned as UMB Financial Corporation Subsidiary (Business Wire)

KANSAS CITY, Mo.—-UMB Financial Corporation announced today that it is restructuring its asset management business which manages and distributes investment services to the institutional market.

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Insite Security Opens Greenwich Office (PR Newswire)


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State Street to Rebalance Eight SPDR® Exchange Traded Funds In Accordance with New S&P Procedures (Business Wire)

BOSTON—-State Street Global Advisors , the investment management arm of State Street Corporation , today announced it will rebalance the holdings of eight SPDR® exchange traded funds that seek to track S&P Select Industry Indices on June 19, 2009 in accordance with the new procedural changes implemented by Standard & Poor’s.

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