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Oct 17, 2014

New Eaton Vance stocks chief reorganizes analysts to boost results

BOSTON, Oct 17 (Reuters) – Taking a page from his last job,
Eaton Vance’s new Chief Equity Investment Officer bets that
reorganizing his analysts into new teams will boost performance.

Since joining the Boston company in April from Goldman
Sachs, Edward Perkin has regrouped Eaton Vance’s 27 stock
analysts into teams meant to develop investment ideas that match
the strategies of the firm’s various funds.

Oct 9, 2014

American Funds flows on track to break even – executive

BOSTON, Oct 9 (Reuters) – The stock-heavy American Funds
family is on track to report its first year without big investor
withdrawals since 2008, a top company executive said as improved
performance helped bring money to its actively managed products.

“Year-to-date our flows are about even, and if trends
continue we expect to end the year about even,” said Timothy
Armour, who chairs the management committee of American Funds
parent Capital Group Companies, in a telephone interview on
Wednesday.

Oct 7, 2014

A thousand miles apart, Janus bond chief Smith embraces Bill Gross

BOSTON/NEW YORK, Oct 7 (Reuters) – Before hiring star bond
fund manager Bill Gross last month, Janus Capital Group Inc
Chief Executive Dick Weil took care to check with the
bond chief he already had, Gibson Smith.

Smith said he has embraced the idea, despite concerns in the
industry that Gross may not be enough of a team player. Smith
said on Tuesday he plans to stay at Janus, with his team intact,
after Weil said continuity was important.

Oct 7, 2014

Third Ave’s Lapointe likes corporate drama, ready for higher rates

BOSTON (Reuters) – Fear of rising interest rates has driven billions of dollars from junk bond funds this year, but a top-performing manager at Third Avenue sees relatively little risk in his portfolio even if corporate borrowing costs surge.

Amid years of rock-bottom interest rates, many troubled companies have had time to get in better financial shape and to secure attractive borrowing terms. And they face less danger than many investors believe if rates rise, said Tom Lapointe, manager of the $3 billion Third Avenue Focused Credit Fund.

Oct 3, 2014

Challenge awaits bond star Gross at team-spirited Janus

BOSTON/NEW YORK (Reuters) – Investors hope the Bond King can remake himself as a team player.

Bill Gross last week abruptly left Newport Beach, California-based Pimco, the firm he built into a bond giant, to join Janus Capital Group (JNS.N: Quote, Profile, Research, Stock Buzz), a small Denver firm that touts on its website how its friendly, team-oriented culture creates “strong collaborators.”

Oct 3, 2014

Insight – Challenge awaits bond star Gross at team-spirited Janus

BOSTON/NEW YORK (Reuters) – Investors hope the Bond King can remake himself as a team player.

Bill Gross last week abruptly left Newport Beach, California-based Pimco, the firm he built into a bond giant, to join Janus Capital Group (JNS.N: Quote, Profile, Research), a small Denver firm that touts on its website how its friendly, team-oriented culture creates “strong collaborators.”

Sep 26, 2014

Hiring of Gross sprinkles star power on Janus shares

BOSTON/NEW YORK (Reuters) – Janus Capital Group shares surged 38 percent on Friday as investors bet that famed bond manager Bill Gross will bring his old star power to the small mutual fund company, even though his last months at Pimco were tainted by infighting and heavy investor outflows.

In the surprise hire by Denver-based Janus on Friday, Gross, who earned the moniker the Bond King, is moving from one of the great whales of the U.S. mutual fund industry to a relative minnow.

Sep 26, 2014

Proxy advisers turn up heat in Darden Restaurants board brawl

By Lisa Baertlein and Ross Kerber

(Reuters) – Advisory firms Glass, Lewis & Co and Institutional Shareholder Services (ISS) each have recommended that Darden Restaurants Inc investors back Starboard Value LP’s 12-director slate, which would oust the embattled company’s full board.

In an unusual move late on Thursday, smaller firm Egan-Jones Proxy Services temporarily withdrew its recommendation that shareholders vote for the eight director nominees put up by Darden, which is leaving spots open for Starboard candidates.

Sep 24, 2014

Harvard picks insider Blyth to helm $36 bln endowment

BOSTON, Sept 24 (Reuters) – Harvard University on Wednesday
named an insider, Stephen Blyth, to run its $36.4 billion
endowment, the world’s largest.

Blyth, who heads public markets at Harvard Management Co,
the school’s investment arm, will replace President Jane
Mendillo after she retires in December. Mendillo has run the
endowment for six years, steadily rebuilding it following heavy
losses during the financial crisis.

Sep 24, 2014

U.S. companies offer more political spending detail -study

BOSTON, Sept 24 (Reuters) – Top U.S. companies are reporting
more detail about their political contributions, according to a
survey by the Center for Political Accountability, a trend that
won praise from the group, which pushes for greater
transparency.

In a survey provided to Reuters ahead of its scheduled
release on Wednesday, the Washington-based organization scored
191 companies on a complex scale that tracked actions such as
whether they disclose corporate contributions to political
candidates, parties or trade associations. Such spending can be
controversial amid the broader debate over campaign-finance
rules.

    • About Ross

      "I cover mutual funds and the companies that offer them including Fidelity Investments and Legg Mason Inc, plus related topics like retirement savings issues and socially responsible investing. I'm based in Boston and joined Reuters in 2009."
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