Guggenheim Partners LLC, the U.S. firm seeking to acquire Deutsche Bank AG’s asset management businesses, would quintuple in size with the deal, enabling it to better compete against the biggest global investors.
Allianz SE, defending its Pacific Investment Management Co. unit against shareholder criticism over declining returns and management infighting, said the bond manager has been a very profitable investment since the German insurer took it over in 1999.
When John Bichelmeyer’s mutual fund fell 48 percent in 2008, he decided his portfolio needed an upgrade. The Buffalo Emerging Opportunities Fund would still invest in small companies with the potential to become big ones. What it wouldn’t do is invest in businesses that were burning cash, or in biotechnology firms whose prospects were difficult to gauge, Bloomberg Markets magazine will report in its April issue.
A Morgan Stanley broker and a law firm employee were charged with insider trading in a scheme that included passing tips on notes and napkins that a middleman swallowed under the big clock in Grand Central Terminal.