Fund Managers Lift Results With Timely Trading Sprees The practice, known as «marking the close» or «portfolio pumping,» is a form of «window dressing» — a term for a variety of techniques
employed by asset managers to make their results look better at the end of the quarter.
Not exact matches
The gravamen of the complaint is that the
asset - allocation models adopted
by the retirement plans» investment committee departed dramatically from prevailing standards
employed by professional investment
managers and plan fiduciaries, and as a result, caused participants to suffer massive losses and excessive fees.
Before that, he was
employed as a senior bond analyst
by W.R. Huff
Asset Management, a private institutional money
manager specializing in high yield bonds and mezzanine investments.
The complaint points out the two main differences between CITs and mutual funds, one of which is that, while ERISA explicitly excludes mutual fund
managers from the definition of a fiduciary to the extent they are managing
assets of a plan covered
by ERISA, the trustees (and any sub-advisers they
employ) of CITs are ERISA fiduciaries, according to Department of Labor (DOL) Advisory Opinion 2005 - 09A.