BOSTON (Reuters) – Equity investors pursuing a buy-and-hold strategy might want to check out a fund that hasn’t made an original stock market bet in 80 years.
The Voya Corporate Leaders Trust Fund, now run by a unit of Voya Financial Inc bought equal amounts of stock in 30 major U.S. corporations in 1935 and hasn’t picked a new stock since.
BOSTON, Feb 27 (Reuters) – Equity investors pursuing a
buy-and-hold strategy might want to check out a fund that hasn’t
made an original stock market bet in 80 years.
The Voya Corporate Leaders Trust Fund, now run by
a unit of Voya Financial Inc bought equal amounts of stock in 30
major U.S. corporations in 1935 and hasn’t picked a new stock
BOSTON (Reuters) – Citigroup Inc (C.N: Quote, Profile, Research, Stock Buzz) said it will support a rule change to make it easier for shareholders to nominate directors, making it the latest large company to embrace the controversial reform.
James McRitchie, a private shareholder who often files corporate governance resolutions, said on Wednesday that Citigroup officials told him they will back a proposal he submitted for a vote at the company’s annual meeting in April. It calls for including on Citigroup proxy statement and voting forms candidates nominated by shareholders who may not own much stock, a change known as “proxy access.”
BOSTON, Feb 12 (Reuters) – Hewlett-Packard Co will
become the largest company to hold an online-only annual
shareholder meeting this March, joining a trend toward virtual
conferences that some activists worry keeps CEOs off the
The Silicon Valley technology giant announced in a Feb. 2
securities filing that its March 18 shareholder meeting will be
online only, a move that follows in the footsteps of dozens of
other companies including Sprint Corp and Martha Stewart
Living Omnimedia Inc.
BOSTON, Feb 12 (Reuters) – Fidelity Investments said on
Thursday operating profit rose 29 percent to $3.4 billion in
2014 as growth in its financial services business and cost cuts
outweighed the effect of an exodus of funds from its equity
The company said strong revenue growth and unit cost
reductions lifted profit over year-ago levels. Further details
about how it reined in expenses were not provided in the annual
BOSTON (Reuters) – Schools and most public transit systems remained closed around Boston on Tuesday as eastern Massachusetts dug out from its third major winter storm in two weeks.
Officials warned that buildings with flat roofs were at risk of collapsing after a three-day storm dropped about two feet (60 cm) across the region and a suburban school district north of Boston canceled all classes for the rest of the week to allow crews to clear roofs.
BOSTON (Reuters) – These are nervous times at the top of North America’s oil companies. Executives are trying to cope with the plunge in oil prices and are slashing costs as they watch earnings and revenue drop. Their own compensation, though, may not yet be on the chopping block.
According to compensation consultants and some investors, the mostly generous packages executives were receiving when the oil price was much higher, and the U.S. shale oil boom was roaring away, are in most cases going to survive – at least for awards based on their performance in 2014. Those will be announced in the next few months.
BOSTON, Jan 22 (Reuters) – Asset manager Janus Capital Group
said on Thursday that fourth-quarter profit rose 22
percent after the arrival of star bond fund manager Bill Gross
helped it reach its first quarter of net deposits since 2009.
The flows mark a long-awaited milestone for Janus and Chief
Executive Officer Richard Weil and sent the Denver company’s
shares up 3.9 percent to $16.93 in early trading.
BOSTON, Jan 21 (Reuters) – One of Fidelity Investments top
stock pickers said he remains positive on solar power despite a
drop in oil prices that hurt shares of First Solar Inc
and dragged on his own portfolio’s performance.
Steven Wymer, who runs the $42.3 billion Fidelity Growth
Company Fund, is the biggest fund investor in First
Solar, a large maker of photovoltaic panels for power systems.
Still, his fund’s 6.80 percent total return in the fourth
quarter beat the 4.93 percent advance of the Standard & Poor’s
BOSTON/BENGALURU, Jan 16 (Reuters) – The U.S. Securities and
Exchange Commission on Friday backed off a ruling it made on
when companies may ditch shareholder proposals, drawing praise
from activists aiming to add their own directors at grocer Whole
Foods Market Inc and other companies.
The SEC said it “will express no views” in the current proxy
season on challenges to shareholder proposals that cite similar
pending management proposals. That decision followed questions
over its application of rules in a case involving the
Texas-based grocery chain.