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NEWS
By Michael Dresser and Michael Dresser,SUN STAFF | July 8, 2004
Once the toast of Wall Street, Alan B. Bond still speaks in the imposing voice in which he commented on stock market trends as a television personality during the 1990s. Yesterday that voice was heard in a far different venue - a federal courtroom in Baltimore where the convicted swindler described several years of using other people's money to benefit himself and Baltimore investment banker Nathan A. Chapman Jr. Bond, 42, is a star witness in federal prosecutors' effort to prove that Chapman committed fraud by using his position as a money manager for the Maryland pension system to have state pension funds invested in companies he controlled.
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BUSINESS
By WERNER RENBERG and WERNER RENBERG,Lipper Analytical Services, Standard & Poor's, funds1992 Werner Renberg | June 21, 1992
What a difference a few months can make!At the end of 1991, health/biotechnology funds were riding high, having achieved an average total return of 74.3 percent for the year, according to Lipper Analytical Services.Oppenheimer Global Bio-Tech Fund had led the group with a phenomenal 121 percent return, while even the year's laggard, Vanguard's Health Care Portfolio, had topped 46 percent, far ahead of the 30.5 percent return for the Standard & Poor's 500 Index.Now, with the broad stock market, as measured by the S&P 500, essentially where it was when 1992 began, the health-fund average is off more than 16 percent.
NEWS
By Julie Bykowicz and Annie Linskey, The Baltimore Sun | April 3, 2011
High hurdles remain for the most ambitious pieces of Gov. Martin O'Malley's legislative agenda, setting up a frantic sprint in the final week of the 2011 General Assembly session if the Democrat hopes to score major victories in the first year of his second term. It has been more than two months since O'Malley rolled out his signature proposals, including legislation to limit septic systems, build an offshore wind farm and create a $100 million investment fund, to a legislature controlled by his party.
BUSINESS
By Julie Bell and Julie Bell,SUN STAFF | March 17, 2001
Igen International Inc. of Gaithersburg said it raised $9.5 million yesterday by selling 789,075 shares of common stock to an investment fund that focuses on investments in life sciences companies. The stock purchased by Acqua Wellington North American Equities Fund Ltd. was part of the 3 million shares Igen registered in January to set aside and sell from time to time. Acqua Wellington has an agreement with Igen to buy up to $60 million of the company's shares at a discount. Yesterday's sale was made at about $12.04 a share, a discount of about 10 percent to Igen's closing price.
BUSINESS
By Gus G. Sentementes and Gus G. Sentementes,SUN STAFF | February 13, 2001
Igen International Inc., a Gaithersburg maker of biological detection systems, said yesterday that it will sell 211,900 shares of common stock for $3 million to an investment fund as part of an equity agreement that will help finance its corporate activities. Under the agreement, Acqua Wellington North American Equities Fund Ltd. will acquire with the Igen shares a stake of about 1 percent. Potentially, Igen could sell up to $60 million in stock to the investment fund over the next 28 months.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | August 6, 2010
Old Mutual announced Friday that it is selling its Baltimore-based life insurance operation to a private equity firm for $350 million, far less than what it paid nine years ago. The company bought the division — part of the former U.S. Fidelity & Guaranty Corp. — from the St. Paul Cos. in 2001 for $635 million. Old Mutual is trying to improve its balance sheet and reduce its "risk profile," and is selling to an affiliate of New York-based Harbinger Capital Partners LLC. The life insurance operation employs 163 in Baltimore.
BUSINESS
By Laura Smitherman and Laura Smitherman,SUN STAFF | January 11, 2005
Maryland officials plan to shop for a better deal for parents and others who have invested in the state's college savings plan, now managed by T. Rowe Price Associates Inc. of Baltimore. The College Savings Plans of Maryland board will solicit bids this month from the financial services industry to manage more than $600 million in assets in its 529 plan, which is projected to grow to $1 billion in two years. Individuals and families can invest in the plan and enjoy tax breaks as long as the money goes to pay for tuition and related expenses.
BUSINESS
By BLOOMBERG NEWS | October 2, 2003
NEW YORK - The National Association of Securities Dealers suspected 20 investment funds of paying kickbacks in return for shares of initial public offerings, according to testimony in the trial of former Credit Suisse First Boston banker Frank Quattrone. "These were some of the accounts that we suspected may have been involved in what we were investigating," Roger Sherman, who runs the enforcement division at the NASD, told a Manhattan federal court jury yesterday. Quattrone is accused of obstructing justice by urging his colleagues to destroy documents sought in a probe of the bank's IPO allocation process.
BUSINESS
By Hanah Cho and Hanah Cho,SUN REPORTER | April 25, 2008
Investors poured a record amount of money into T. Rowe Price Group's mutual funds and other investments in the first quarter, helping the Baltimore money manager's profit grow 6 percent. Price's shares jumped nearly 12 percent on yesterday's earnings news. The company said its net income in the three months that ended March 31 was $151.5 million, or 55 cents per diluted share, up from $142.9 million, or 51 cents per diluted share, in the corresponding period last year. Still, Price was hurt by market volatility as its assets under management fell 5.4 percent to $378.
BUSINESS
By New York Times News Service | February 26, 1995
When his $15,000 investment last October in the T. Rowe Price New Asia Fund sank to $11,500 in January, Bob Brooks bailed out."I made two mistakes," said Brooks, a high school teacher in the Bay Area community of Morgan Hill, Calif. "The first one was putting so much into that one fund, and my second was, when it started dropping so fast, not getting out more quickly."Plenty of market professionals would agree with Mr. Brooks on his first point. His New Asia position was almost the only international exposure in his retirement plan, and it was the lack of diversification that contributed to his loss of more than 23 percent.
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