- Western Asset Municipal Partners Fund Inc. Announces Tender Offer
Western Asset Municipal Partners Fund Inc. (NYSE: MNP) (the “Fund”) announced today that the Fund’s Board of Directors has approved a tender offer to be commenced in the fourth quarter of 2006 for up to 5% of the Fund’s outstanding shares of common stock as of the commencement of the offer. The tender offer is pursuant to a Settlement Agreement, dated as of February 13, 2006, between the Fund and Karpus Management, Inc. (including certain affiliates thereof). - Fitch Affirms Washington Mutual
Fitch Ratings has affirmed the ratings of Washington Mutual, Inc. ('A'/'F1') and its primary subsidiary, Washington Mutual Bank ('A'/'F1') and other related debt. The Rating Outlook is Stable. A complete list of ratings can be found at the bottom of this release. - Valhalla Partners Raises $260 Million Fund
Valhalla Partners, a trusted partner and advisor to technology entrepreneurs in their quest to build world-class companies, today announced the closing of its most recent fund, Valhalla Partners II, L.P. (“Valhalla II”). Valhalla II is a $260 million fund, bringing the total capital under management at the firm to more than $440 million. The fund will be used to expand the firm’s portfolio of Internet, digital media, software, mobile and storage-based businesses. - Much Room for Improvement in Mutual Fund Firms Online Security, Says New Report from Corporate
As many financial services segments – banking, brokerage and credit card – continue to update their security requirements to meet hackers and other online predators head on, the mutual fund industry appears to be lagging behind, according to a new report from Corporate Insight. - Fitch Rates Washington Mutual Master Note Trust WaMu Card Series 2006-A4 'AAA' & 2006-C3 'BBB'
Fitch rates the following two classes of Washington Mutual Master Note Trust floating-rate notes:
--$500 million class 2006-4A 'AAA';
--$200 million class 2006-C3 'BBB'. - RMK Strategic Income Fund Declares $0.14 Per Share Dividend
The Board of Directors of RMK Strategic Income Fund, Inc. (NYSE: RSF) today declared three monthly dividends of $0.14 per share, a $0.01 per share decrease from the dividend rate paid in recent months due primarily to the increased cost associated with the leverage employed by the fund. - Fitch Rates New Haven, Connecticut's $40.6MM Rfdg GOs 2006 'A-'; Affirms Outstanding at 'A-'
Fitch rates New Haven, Connecticut's (the city) $40.6 million general obligation (GO) refunding bonds, issue of 2006 'A-'. The bonds are scheduled for pricing through negotiation with Wachovia Bank, National Association on Nov. 14, 2006. The bonds mature serially Nov. 1 2014-2021, with semiannual interest payments on each May 1 and Nov. 1, commencing May 1, 2014. Fitch also affirms the 'A-' rating on the city's approximately $483 million outstanding GO bonds. The Rating Outlook is Stable. - The Hartford Announces Settlement Agreement With The Securities and Exchange Commission
The Hartford Financial Services Group, Inc. (NYSE: HIG) announced today that it reached a settlement with the Securities and Exchange Commission (SEC) that resolves the issues related to the SEC’s investigation into the use of directed brokerage and revenue sharing in its mutual fund and variable annuity businesses. - BlackRock Europe Fund, Inc. Announces Conversion Ratio
BlackRock Europe Fund, Inc.’s (NYSE: EF – CUSIP: 09256G106) (formerly The Europe Fund, Inc., CUSIP 29874M103) reorganization with BlackRock EuroFund (New class I1 CUSIP: 09251N601) is effective as of the opening of business of the New York Stock Exchange on November 6, 2006. - Mutual Service Corporation Enters into Succession Planning Services Agreement with FP Transitions
Mutual Service Corporation (MSC), an independent broker-dealer with more than 1500 registered representatives licensed in all 50 states, has entered into a formal relationship with FP Transitions to provide an array of succession planning services to their reps. The program recognizes a growing trend in effectively dealing with an aging work force. - Jones Day Welcomes Prominent Private Equity Partner Dennis Barsky in New York
Dennis Barsky, a prominent Private Equity lawyer, has joined the New York office of international law firm Jones Day as a partner.
Formerly a partner in Weil, Gotshal & Manges LLP's New York office, Mr. Barsky has worked on many high-profile M&A and private equity transactions. - Dividend Dates and Distribution Amounts Announced for Certain BlackRock Taxable Closed-End Funds
Today, the following funds announced monthly dividends payable on November 30, 2006 to shareholders of record as of November 14, 2006. The ex-date will be November 10, 2006. - Hedge Fund Study Reveals Increasing Trend Toward Outsourcing
Paladyne Systems, a leading provider of alternative investment solutions, today released a paper investigating the growing trend toward outsourcing within the hedge fund industry and identifies a number of external pressures that have increased the need for hedge fund management firms to significantly upgrade their middle- and back-office infrastructure in order to remain competitive. - Vanguard Charitable Endowment Program Launches Disaster Recovery Fund
The Vanguard Charitable Endowment Program today announced the launch of a charitable vehicle aimed at addressing the ongoing effects of major disasters, while offering donors the chance to make tax-free contributions directly from their IRAs. - News From USW: Innovative Trust Fund Makes Payment to 40,000 USW Retirees and Spouses
News From USW: More than 40,000 United Steelworker retirees and spouses who lost health care coverage in the bankruptcies of four steel companies are getting financial help with their Medicare Part B premiums from an innovative trust fund bargained by the USW to assist them. - Intrusic Secures $8 Million in New Funding
Intrusic, Inc., the internal threat intelligence leader, today announced that it has secured $8 million in Series B financing. Led by North Bridge Venture Partners and with participation from DFJ New England and Draper Fisher Jurvetson, this new funding will enable Intrusic to accelerate the development and market adoption of its internal threat intelligence technology and services. - Conducting Due Diligence into Private Equity Funds is More Important Now than Ever
IncreMental Advantage will run the first conference ever on Private Equity Funds Due Diligence in New York City on December 7, 2006. This conference is designed to help senior managers from pension funds; insurance companies; foundations; funds-of-funds; and, family offices improve their returns by ferreting out the most promising private equity funds in which to invest. - Fitch Upgrades Counterparty Ratings of Citadel Wellington & Kensington Funds to 'BBB+'; Off Watch
Fitch upgrades the Issuer Default Ratings (IDRs) of Citadel Kensington Global Strategies Fund Ltd. (Kensington) and Citadel Wellington LLC (Wellington) to 'BBB+' from 'BBB'. The positive rating watch is removed and the Rating Outlook is Stable. There is currently no unsecured debt outstanding. - Dividend Capital Realty Income Allocation Fund to Host Quarterly Conference Call
Dividend Capital Realty Income Allocation Fund, a closed-end investment management company (NYSE: DCA), announced today that it will be hosting a public quarterly conference call at 4:15 EDT on October 25, 2006. The conference call may be accessed by dialing 877.313.6462 and referencing Dividend Capital ID # 8792319. - Thomas J. Herzfeld Advisors, Inc., Specialists in Closed-End Funds, Announces Managed
-Thomas J. Herzfeld Advisors, Inc. announced today that the firm’s Managed Account Programs which invest exclusively in closed-end funds made a record high last night at $3,074,550 per unit. Year-to-date performance is ahead 13.93% and 412.43%, from inception. The program consists of a total of six Managed Portfolios, each of which has a different objective; each was funded with $100,000 at inception (total of $600,000). - Franklin Mutual Recovery Fund Announces Regular Quarterly Repurchase Offer for Fund Shares
Franklin Mutual Recovery Fund ("Mutual Recovery") [TMRAX], a continuously offered closed-end fund, announced that the Board of Trustees approved the next regular quarterly tender offer to repurchase up to 10% of outstanding Fund shares. The repurchase offer period will commence on December 1, 2006, when the notification of the repurchase offer is sent to shareholders. The repurchase request deadline is 4:00 p.m. ET (1:00 p.m. PT) on January 2, 2007. - Update: Fitch Rates Hillsborough County, Florida's $157MM Solid Waste and Resource Recov Revs 'A'
This is a update to a message issued on October 4, 2006. It revises the bond sale information in the first paragraph. - Update: Fitch Rates Hillsborough County, Florida's $157MM Solid Waste and Resource Recov Revs 'A'
Fitch assigns an 'A' rating to Hillsborough County, Florida's $157 million Solid Waste and Resource Recovery Revenue Bonds, Series 2006A and 2006B. The bonds, originally scheduled to sell competitively the week of Oct. 16, 2006, will instead sell through negotiation with Goldman, Sachs & Co. this week of October 30, 2006. Public Financial Management Inc. is the financial advisor. - Mutual Fund Firms Do Admirable Job of Providing Investors with Online Transaction Capabilities
As investors continue to become more self-sufficient, the ability to perform transactions online has become one of the most important functions of mutual fund Websites. In a newly released report, Corporate Insight, the leader in providing competitive intelligence, analysis, and consulting services to the financial services industry, takes an in-depth look at resources available to investors looking to initiate transactions directly from a mutual fund firm’s Website. - Jellyfish.com Secures $5 Million in Funding
Jellyfish.com today announced it has secured $5 million in funding led jointly by private equity funds Kegonsa Capital Partners and Clyde Street Investments. The funding will allow Jellyfish to drive continued growth and customer adoption for its innovative new comparison shopping search engine that eliminates click fraud for advertisers and shares back advertising dollars with consumers to create the lowest prices online. - Fitch Rates Port Authority of New York & New Jersey $250MM 145th Series 'AA-'
Fitch Ratings assigns an 'AA-' rating to the Port Authority of New York and New Jersey's (the authority) $250 million of consolidated bonds 145th series (taxable). The bonds are expected to sell competitively on Nov. 1, 2006. Bond proceeds will be applied to fund various capital plan projects. - Morgan Stanley Institutional Fund Trust – High Yield Portfolio
Morgan Stanley Institutional Fund Trust (the “Fund”) announced that its Board of Trustees approved a reverse 2:1 stock split for the Fund’s High Yield Portfolio to occur at the close of business on Friday, November 10, 2006. At such time, each two shares of the High Yield Portfolio that have been issued and are outstanding immediately prior to such time will be combined into one share of the High Yield Portfolio. Fractional shares also will be issued. - The Universal Institutional Funds, Inc. – High Yield Portfolio
The Universal Institutional Funds, Inc. (the “Fund”) announced that its Board of Directors approved a reverse 2:1 stock split for the Fund’s High Yield Portfolio to occur at the close of business on Friday, November 10, 2006. At such time, each two shares of Class I shares of the High Yield Portfolio that have been issued and are outstanding immediately prior to such time will be combined into one share of Class I. Fractional shares also will be issued. - Washington Mutual to Present at The BancAnalysts Association of Boston Conference
Washington Mutual, Inc.'s (NYSE:WM) Ken Kido, President, Banking Products and Operations, will present at The BancAnalysts Association of Boston Conference on Friday, November 3, 2006, at 11:30 a.m. ET.
There will be a live audio Web cast of Kido’s presentation, which will be archived on the Washington Mutual Web site following the conference. - Fitch Rates Clough Global Allocation Fund Shares Rated 'AAA'
Fitch rates Clough Global Opportunities Fund's (AMEX:GLO) auction market preferred shares series M7, W7, F7, T28 and series Th28 'AAA'. The ratings are based on asset coverage and preferred share basic maintenance amount tests, as well as the quality and experience of the asset manager. - Fitch Rates Houston, Texas' $231MM Refunding PIBs 'AA-'; Outlook Negative
Fitch assigns an rates Houston, Texas' public improvement refunding bonds (PIBs) as follows:
--$135.3 million series 2006D 'AA-';
--$36.0 million series 2006E 'AA-';
--$47.7 million series 2006F 'AA-';
--$12.0 million series 2006G 'AA-'. - JCPenney Afterschool Fund Announces Board Expansion
The JCPenney Afterschool Fund, a charitable organization committed to providing access to safe and enriching afterschool programs for America’s underserved youth, announces the appointments of Jan Hart Black, a leader in the Dallas business and civic communities, and Karen Pittman, a noted author and sociologist, to its Board of Directors. - TheStreet.com Adds Stock Ratings to Its Free Services
TheStreet.com, Inc. (Nasdaq:TSCM), a leading provider of financial commentary, analysis, research, news and ratings, today announced the immediate online availability of stock ratings on its free flagship Web site www.thestreet.com. - Fitch: U.S. ABCP S.M.A.R.T. Update for Week of Oct. 16, 2006
For the week of Oct. 16, 2006, the following ABCP issuers in Fitch's U.S. ABCP SMART system were updated:
-- Aspen Funding Corp. (August 2006)
-- CCN (Independence IV) LLC (September 2006)
-- CCN (Orchard Park) LLC (September 2006)
-- Deer Valley Funding LLC (September 2006)
-- Falcon Asset Securitization Corp. (August 2006) - New PowerShares Cleantech Portfolio (PZD) Exchange Traded Fund (ETF) Will Be Based on Cleantech
The Cleantech Index™ (CTIUS, www.cleantechindex.com) will be the sole source for companies included in the PowerShares Cleantech Portfolio (Symbol: PZD) exchange traded fund (ETF), that was launched today. The PowerShares Cleantech Portfolio (PZD) ETF will focus on public companies that have a large portion of their revenue from products and services based on clean technology. - First Mutual Bancshares Posts Record Profits
First Mutual Bancshares, Inc., (Nasdaq:FMSB) the holding company for First Mutual Bank, today reported that continued strong loan production in business banking and sales finance contributed to the 56th consecutive quarter of record year-over-year profits. - Derivative Fitch Affirms Regional Diversified Funding, Ltd.
Derivative Fitch affirms one class of notes issued by Regional Diversified Funding, Ltd. (RDF). This affirmation is the result of Derivative Fitch's review process and is effective immediately: - Derivative Fitch Affirms MM Community Funding II, Ltd.
Derivative Fitch affirms two classes of notes issued by MM Community Funding II, Ltd. (MM Community II). These affirmations are the result of Derivative Fitch's review process. The following rating actions are effective immediately:
--$456,300,000 Senior notes affirmed at 'AAA';
--$205,000,000 Senior subordinate notes affirmed at 'A'. - Derivative Fitch Affirms TPref Funding I, Ltd.
Derivative Fitch affirms three classes of notes issued by TPref Funding I, Ltd. (TPref I). These rating actions are the result of Derivative Fitch's review process and are effective immediately:
--$208,966,665 class A-1 Senior Notes affirmed at 'AAA'; - Derivative Fitch Affirms MM Community Funding I, Ltd.
Derivative Fitch affirms two classes of notes issued by MM Community Funding I, Ltd. (MM Community I). These affirmations are the result of Fitch's review process and are effective immediately:
-- $224,000,000 senior notes at 'AAA';
-- $140,500,000 senior subordinate notes at 'BBB'. - Derivative Fitch Affirms MMCapS Funding I, Ltd.
Derivative Fitch affirms two classes of notes issued by MMCapS Funding I, Ltd. (MMCapS I). These affirmations are the result of Fitch's review process and are effective immediately:
--$187,800,000 senior notes 'AAA';
--$77,000,000 mezzanine Notes 'BBB'. - Seligman Select Municipal Fund, Inc. and Seligman Quality Municipal Fund, Inc. Announce Dividend
Seligman Select Municipal Fund, Inc. (NYSE: SEL) announced that it currently estimates that 3.9% of the monthly distributions paid to common stockholders in 2006 will be in excess of the Fund’s net investment income (i.e., a return of capital), but under applicable federal law, will be taxable as ordinary income. - Box.net Lands Funding, Expands Offering
Box.net, a leading provider of free and premium web-based file storage and sharing, announced today that it has raised $1.5 million in a Series A investment from venture capital firm Draper Fisher Jurvetson (DFJ), led by DFJ partner Josh Stein. - Derivative Fitch Affirms ALESCO Preferred Funding V, Ltd.
-Derivative Fitch affirms seven classes of notes issued by ALESCO Preferred Funding V, Ltd., (ALESCO V). These affirmations are the result of Fitch's review process and are effective immediately:
--$183,972,950 class A-1 notes 'AAA';
--$42,000,000 class A-2 notes 'AAA'; - Bank Mutual Corporation Reports Earnings for the Third Quarter of 2006 and Nine Months Ended
Bank Mutual Corporation (NASDAQ:BKMU) reported net earnings of $5.1 million or $0.09 diluted earnings per share for the three months ended September 30, 2006 as compared to $6.9 million or $0.11 diluted earnings per share during the same period in 2005. - Fitch Rates New York City TFA $650MM State Building Aid Bonds 'A+'
Fitch Ratings assigns an 'A+' rating to $650 million New York City Transitional Finance Authority (TFA) state building aid appropriation bonds, fiscal 2007 series S-1. The bonds are scheduled to sell the week of Oct. 30 through negotiation with a syndicate led by Bear, Stearns & Co. Inc. This is the first offering of TFA state building aid bonds; the bonds are secured separately from the TFA's future tax secured bonds. The Rating Outlook is Stable. - Wilmington Trust Announces Third Quarter Results
Wilmington Trust Corporation (NYSE:WL) reported today that net income for the 2006 third quarter was $5.2 million and earnings per share (on a diluted basis) were $0.07 per share. The company recorded a non-cash charge of $72.3 million during the quarter against its valuation of affiliate money manager Roxbury Capital Management (RCM). This non-cash charge reduced operating net income by $41.7 million and reduced earnings per share (on a diluted basis) by $0.60 per share. - Liberty Mutual Group Schedules Third Quarter Earnings Conference Call
Liberty Mutual Group (“LMG”) is scheduled to release its third quarter 2006 financial results on Friday, November 3, 2006. At 1 p.m. EST that day, Edmund F. Kelly, Liberty Mutual Group Chairman, President and CEO, will host a conference call to discuss the company's financial results. - GASB Invites Public Comment on Accounting Issues Related to Fund Balance Reporting and Governmental
An Invitation to Comment (ITC) was issued today, and the Governmental Accounting Standards Board (GASB) is seeking constituent comments and perspectives on issues currently being addressed in the Board’s project on fund balance reporting and governmental fund type definitions. - Fitch Rates Illinois Educational Facilities Authority's $109.96MM 2002 Revs 'AAApre'
Fitch assigns a rating of 'AAApre' to the $109,960,000 Illinois Educational Facilities Authority Student Housing Revenue Bonds, Educational Advancement Fund, Inc. (University Center Project), Series 2002, maturing May 1, 2007- May 1, 2030. - Fitch Withdraws Certain Verizon Ratings
Fitch Ratings has withdrawn the 'A+' issuer default rating (IDR) assigned to Verizon Global Funding Inc. and the 'F1' commercial paper rating of Verizon Network Funding. No other ratings of its parent, Verizon Communications Inc. (Verizon) or other Verizon subsidiaries are affected by this action. - Fitch Rates St. Petersburg, Florida's $51.5MM 2006 Utility Revs 'AA-'
Fitch assigns an 'AA-' rating to the City of St. Petersburg, Florida's approximately $51.5 million public utility refunding revenue bonds, series 2006. The bonds are scheduled for competitive sale on Oct. 24. Bond proceeds will be used to refund a portion of the city's outstanding public utility revenue bonds, series 1999A. Concurrently, Fitch affirms the 'AA-' on $125.6 million outstanding parity bonds. The Rating Outlook is Stable. - Hedge Funds Flat in September – Strong Long-Term Results
The Greenwich-Van Global Hedge Fund Index returned +0.01% in September (+6.55% YTD), according to Greenwich-Van Advisors, LLC. By comparison, the S&P 500, Lehman Brothers Aggregate Bond Index, MSCI World Equity Index and FTSE 100 returned +2.58% (8.53% YTD), +.88% (+3.06% YTD), +1.22% (+11.23% YTD), and +.93% (+6.09% YTD), respectively. - A.M. Best Affirms Ratings of The West of England Ship Owners Mutual Insurance Association
A.M. Best Co. has affirmed the financial strength rating of A- (Excellent) and the issuer credit rating of “a-” of The West of England Ship Owners Mutual Insurance Association (Luxembourg) (WOE or the Club). The outlook for both ratings is stable. - Strategic Global Income Fund, Inc. Reports Earnings
Strategic Global Income Fund, Inc. (NYSE: SGL), a closed-end management investment company seeking high current income and secondarily capital appreciation through investments in US and foreign debt securities, today announced its performance for the fiscal third quarter and fiscal year-to-date ended August 31, 2006. - Merrill Lynch: The Emergence of Passive Hedge Funds
Rules-based passive hedge fund strategies could provide an increasingly attractive alternative to active hedge fund management as the industry continues to mature according to Merrill Lynch (MER) analysts. They expect strategies will increasingly emerge that aim to replicate hedge fund performance – either by using liquid assets like stocks or by mechanically executing hedge fund strategies – enabling investors to achieve similar returns to hedge funds with lower fees. - Global Lottery Corporation (GTTC) Announces That It Has Received A Letter of Commitment
The Royal Indian Raj International Corporation (RIRIC) www.royalindianraj.com Chairman/CEO Manoj Benjamin states, “We are happy to facilitate up to two hundred fifty million US dollars ($250,000,000) financing for the Global Lottery Corporation, for the financing... - LaCrosse Global Fund Services Launches as Independent Hedge Fund Service Provider and Administrator
Cargill and Black River Asset Management LLC, an alternative investment company and wholly owned subsidiary of Cargill, announced today the launch of LaCrosse Global Fund Services as an independently run hedge fund service provider and administrator based in New York, with 150 employees and offices in Bogotá, Buenos Aires, Caracas, Istanbul, London, Minneapolis, Moscow, São Paulo and Singapore. - Fitch Rates Corpus Christi, Texas $84MM Utility Revs 'AA-'; Outlook Revised to Negative
Fitch Ratings assigns an 'AA-' rating to Corpus Christi, Texas' $84.1 million utility system revenue refunding and improvement bonds, series 2006. The bonds are expected to sell Oct. 12 via negotiations through a syndicate managed by Morgan Stanley & Co. - Fitch Rates Austin, Texas $129.2MM 2006A Electric Util Sys Rev Rfdg Bnds 'AA-'
The City of Austin, TX's $129.2 million of electric utility system (Austin Energy) revenue refunding bonds, series 2006A are rated 'AA-' by Fitch. Fitch also affirms the 'AA-' ratings on the outstanding Austin Energy (AE) separate lien bonds, the outstanding Austin Combined Utility System (ACU) prior lien senior and subordinate bonds, and the outstanding Austin Water & Wastewater (AWU) separate lien bonds. - A.M. Best Assigns Rating to Subordinated Bond Issue by Kiln plc
A.M. Best Co. has assigned a “bbb” rating to the USD 35 million floating rate subordinated bonds, issued by Kiln plc (United Kingdom) (Kiln). The rating outlook is stable. - aquaICE, LLC Announces Funding and Appointment of New Chief Executive Officer
aquaICE, LLC, the leading producer and marketer of patented, purified, shelf stable ice, announced today that it has closed a seven figure capital funding raise to support marketing and strategic partnership initiatives. The funds were secured from investors via private placement. They will be used as a platform for a nation-wide rollout of the company’s original aquaICE™, Natural Lemon Essence aquaICE™, and Natural Lime Essence aquaICE™ products throughout the United States. - Fitch Rates Forney ISD, Texas' ULT Ref Bonds 'AAA' PSF; 'A' Underlying
Fitch assigns an 'AAA' rating to Forney Independent School District (the district), Texas' $16.195 million unlimited tax refunding bonds, series 2006D, based on the guarantee provided by the Texas Permanent School Fund (PSF), whose insurer financial strength is rated 'AAA' by Fitch. In addition, Fitch assigns an underlying 'A' rating for the series 2006D bonds and affirms the underlying 'A' rating on the district's $115.9 million of outstanding unlimited tax bonds (net of refunding). - Fitch Rates Summit County Port Authority, Ohio Bond Fund Revs 'BBB+'
Fitch Ratings assigns a 'BBB+' rating to the Summit County Port Authority, OH's (bond fund program) $3,145,000 taxable development revenue bonds, series 2006D (Superior Roll forming Co., Inc. Project). The series 2006D will be offered by Robert W. Baird & Co. Inc. during the week of Oct. 16. Fitch also affirms the 'BBB+' rating on the authority's $29.7 million outstanding bond fund development revenue bonds. The Rating Outlook is Stable. - Select Sector SPDRs Weave Their Way into Portfolios in Fourth Quarter Ad Campaign
Industrious little spiders weave intricate webs into strong three-dimensional sector icons in the new fourth quarter ad campaign launched by Select Sector SPDRs, a family of exchange-traded funds (ETFs) that divide the S&P 500 into nine individual sector index funds. Following their debut in last week’s Barron’s, the ads will appear in major financial news and trade publications between now and year end. - Milestone Growth Fund Names New President and CEO
Milestone Growth Fund today announced it has reached an agreement with Richard Venegar, currently senior vice president of Pacesetter Capital Group, a $250 million private equity fund based in Dallas, to succeed Esperanza Guerrero-Anderson as president and CEO. Guerrero-Anderson, the founder of Milestone, retired as its president and CEO September 30, after leading the development of the fund since 1990. - Hedge Funds Return +.10% in September
The Greenwich-Van Global Hedge Fund Index returned +.10% in September according to a preliminary report released today by Greenwich-Van Advisors, LLC, a leading hedge fund index provider. In comparison, the S&P 500, NASDAQ, Nikkei 225 and the Lehman Brothers Aggregate Bond Index returned +2.58%, +3.42%, -.08% and +.88%, respectively. - Eaton Vance Short Duration Diversified Income Fund Report of Earnings
Eaton Vance Short Duration Diversified Income Fund (NYSE: EVG), a diversified closed-end investment company, today announced the earnings of the Fund for the three months ended July 31, 2006 and for the nine months ended July 31, 2006. The Fund’s fiscal year ends on October 31, 2006. - Fund Data Now Available For Nuveen Municipal Closed-End Funds
Nuveen Investments, a leading provider of diversified investment services, today announced the latest fund data for its 98 municipal closed-end funds is now available. The information is posted on Nuveen’s web site at www.nuveen.com/cef. For further information, call 800-257-8787 or write to Nuveen Investments, 333 W. Wacker Drive, Chicago, IL 60606. - Nuveen Equity Premium Income Fund Data Now Available
Nuveen Investments, a leading provider of diversified investment services, today announced that the latest fund data for the Nuveen Equity Premium Income Fund (NYSE:JPZ) is now available. The information is posted on Nuveen’s web site at http://www.nuveen.com/ETF/products/fqf.aspx?fundid=JPZ. - Nuveen Floating Rate Income Opportunity Fund Data Now Available
Nuveen Investments, a leading provider of diversified investment services, today announced that the latest fund data for the Nuveen Floating Rate Income Opportunity Fund (NYSE:JRO) is now available. The information is posted on Nuveen’s web site at http://www.nuveen.com/ETF/products/fqf.aspx?fundid=JRO. For further information, call 800-257-8787 or write to Nuveen Investments, 333 W. Wacker Drive, Chicago, IL 60606. - Nuveen Equity Premium & Growth Fund Data Now Available
Nuveen Investments, a leading provider of diversified investment services, today announced that the latest fund data for the Nuveen Equity Premium & Growth Fund (NYSE:JPG) is now available. The information is posted on Nuveen’s web site at http://www.nuveen.com/ETF/products/fqf.aspx?fundid=JPG. - Nuveen Preferred and Convertible Income Fund Data Now Available
Nuveen Investments, a leading provider of diversified investment services, today announced that the latest fund data for the Nuveen Preferred and Convertible Income Fund (NYSE:JPC) is now available. The information is posted on Nuveen’s web site at http://www.nuveen.com/ETF/products/fqf.aspx?fundid=JPC. - Nuveen Diversified Dividend and Income Fund Data Now Available
-Nuveen Investments, a leading provider of diversified investment services, today announced that the latest monthly fund data for the Nuveen Diversified Dividend and Income Fund (NYSE:JDD) is now available. The information is posted on Nuveen’s web site at http://www.nuveen.com/ETF/products/fqf.aspx?fundid=JDD. - Nuveen Equity Premium Advantage Fund Data Now Available
Nuveen Investments, a leading provider of diversified investment services, today announced that the latest fund data for the Nuveen Equity Premium Advantage Fund (NYSE:JLA) is now available. The information is posted on Nuveen’s web site at http://www.nuveen.com/ETF/products/fqf.aspx?fundid=JLA. - Washington Mutual Third Quarter 2006 Earnings Release and Conference Call
Washington Mutual, Inc. (NYSE:WM) will release the company’s third quarter 2006 earnings on Wednesday, October 18, 2006, following the close of the New York Stock Exchange. - The Reaves Utility Income Fund Announces Regular Monthly Dividend
The Reaves Utility Income Fund (AMEX: UTG) today announced the next three monthly dividends at a rate of $0.105 per common share per month. The dividend represents an annualized yield of 6.00% based on the current market price. As of September 22, 2006, the Fund’s market price was $21.01 per share and its net asset value was $24.43. - The Arizona Foundation for Women Awards $115,000 from the Deborah G. Carstens Fund to Help Women
Four organizations were recently awarded $115,000 from the Deborah G. Carstens Fund at the Arizona Foundation for Women. The Fund is dedicated to helping motivated girls and women to take responsibility for their own economic lives by developing skills, building self-esteem and identifying pitfalls that may impede their success. - ABA Retirement Funds Introduces Two Plan Features: Retirement Date Funds and Roth 401(k)
ABA Retirement Funds (ABA/RF), which offers tax-qualified retirement plan services to qualified legal professionals, has introduced five new investment options and a Roth 401(k) feature for forward-minded investors who want to accumulate hassle-free retirement savings. Retirement Date Funds and a Roth 401(k) have been added to ABA/RF’s program to meet the changing retirement planning needs of their participants. - DWS Strategic Income Trust (KST) Declares a Monthly Distribution
DWS Strategic Income Trust (NYSE: KST) declared a monthly dividend of $0.09 per share, payable on October 31, 2006 to shareholders of record on October 16, 2006. The Ex-date is October 12, 2006. The previous monthly dividend was $0.09 per share. The Fund’s initial offering was April 21, 1988. - DWS High Income Trust (KHI) Declares Monthly Distribution
DWS High Income Trust (NYSE:KHI) declared a monthly dividend of $0.045 per share, payable on October 31, 2006, to shareholders of record on October 16, 2006. The ex-date is October 12, 2006. The previous monthly dividend amount was $0.045 per share. The Fund’s initial offering was April 21, 1988. - DWS High Income Trust (KHI) Declares Monthly Distribution
DWS High Income Trust (NYSE:KHI) declared a monthly dividend of $0.045 per share, payable on October 31, 2006, to shareholders of record on October 16, 2006. The ex-date is October 12, 2006. The previous monthly dividend amount was $0.045 per share. The Fund’s initial offering was April 21, 1988. - Fitch Rates Town of Huntington, New York's GO Bonds 'AA+'; Affirms Outstanding; Outlook Stable
Fitch assigns an 'AA+' rating to the Town of Huntington, New York's (the town) $14.9 million public improvement serial bonds 2006. The current offering is expected to sell competitively on Oct. 26, 2006. Proceeds of the 2006 bonds will redeem $5.1 million outstanding bond anticipation notes maturing Nov. 17, 2006 and provide new money for various capital projects. Additionally, Fitch affirms the 'AA+' rating on the town's $101.9 million outstanding general obligation bonds. - The Zweig Total Return Fund, Inc.
The Zweig Total Return Fund, Inc. (NYSE:ZTR), announced that its current monthly distribution will be $0.043 per share, payable on October 25, 2006, to shareholders of record on October 12, 2006 (ex-date October 10, 2006). - SEC Concludes Investigation of BISYS® Fund Services
BISYS, a leading provider of outsourcing solutions for the financial services sector, announced today that it has reached an agreement with the Securities and Exchange Commission (SEC) to settle an investigation into past marketing arrangements with mutual fund advisers. - Fitch Rates Pasadena, Texas' GO & Refunding Bonds 'AA-'; Affirms Outstanding; Outlook Stable
Fitch assigns an 'AA-' rating to Pasadena, Texas' (the city) $8.9 million general obligation (GO) and refunding bonds, series 2006. Additionally, Fitch affirms the 'AA-' rating on the city's outstanding $105.2 million GO bonds and $45.5 million certificates of obligation. The Rating Outlook is Stable. - HomeStreet Capital Finances Multifamily Renovation in Fife
HomeStreet Capital has provided $8.229 million in bridge financing to GRE Lakes LLC to renovate The Lakes at Fife Apartments, a 136-unit complex located in Fife, Wash. Financing was arranged by Tom Meunier through portfolio funds from HomeStreet Bank. - Fitch Rates $1B Texas GO Mobility Fund Bonds 'AA+'
Fitch Ratings assigns an 'AA+' rating to the $1 billion Texas Transportation Commission, State of Texas general obligation (GO) mobility fund bonds, series 2006-A, expected to sell Oct. 4 through negotiation with a syndicate led by Goldman, Sachs & Co. Fitch also affirms the 'AA+' rating on outstanding GO bonds of the State of Texas, including the $1.725 billion outstanding GO mobility fund bonds. The Rating Outlook is Stable. - Fitch Rates Galveston County, Texas $86.9MM GO Bonds 'AA'; Upgrades Outstanding Debt
Fitch Ratings assigns an 'AA' rating to the Galveston County, Texas' (the county) $86.9 million general obligation (GO) refunding bonds, series 2006. Additionally, Fitch upgrades to 'AA' from 'AA-' its rating on the county's $35.1 million unlimited tax bonds and $74.9 million limited tax bonds outstanding (post refunding). The bonds are scheduled to sell via negotiation through a syndicate led by Estrada Hinojosa & Co., Inc. the week of Oct. 9th, subject to market conditions. - Fitch Rates LIPA $525.61MM Electric System General Revenue Bonds 'AAApre'
Fitch assigns a rating of 'AAApre' to the Long Island Power Authority's (LIPA) $525,610,000 electric system general revenue bonds, series 1998A, maturing Dec. 1, 2018 and 2022 (CUSIP numbers 542690BE1 and 542690YM8, respectively). The bonds were refunded on Sept. 26, 2006, with proceeds of LIPA's electric system general revenue bonds, series 2006E, and other monies of the Authority. All refunded bonds will be redeemed on June 1, 2008 at 101%. - Fitch Rates Tacoma, Washington's 2006B Rfdg LTGOs 'AA-'
Fitch rates the City of Tacoma, Washington's $12,420,000 Limited Tax General Obligation Refunding Bonds, Series 2006B 'AA-'. In addition, Fitch affirms the 'AA-' rating to $88.7 million in outstanding parity limited tax general obligation (LTGO) bonds. The Rating Outlook is Positive, revised from Stable on Sept. 6. The new issue will sell via negotiation with Banc of America Securities LLC on or about Oct. 17. - Fitch Rates Hartford Financial Senior Notes 'A'
Fitch has assigned an 'A' rating to Hartford Financial Services Group, Inc.'s (HFSG) $1 billion issue of unsecured senior notes due 2011, 2016, and 2036. The Rating Outlook is Stable. - FreeHand Systems Closes First Institutional Round of Funding from Large Institutional Investor
FreeHand Systems, Inc., wholly owned subsidiary of FreeHand Systems International, Inc. (OTC:FSYI), announced today that it has just completed its first institutional round of private funding from Vision Opportunity Master Fund Ltd. FreeHand Systems is the elite digital music company whose revolutionary technology is shaping the future of the distribution and performance of sheet music. - Fitch Rates Florida Atlantic University 2006B Dormitory Rev Rfdg Bnds 'A'
Fitch assigns its underlying 'A' rating to Florida Board of Governors $21.6 million Florida Atlantic University (FAU or the university) dormitory revenue refunding bonds, series 2006B. In addition, Fitch affirms the underlying 'A' ratings on $62.5 million of housing system revenue bonds, series 2000, 2003 and 2006A. The Outlook is Stable. - Fitch Upgrades 1 Class of Penn Mutual 1996-PML
Fitch Ratings upgrades the Penn Mutual Life Insurance Company's (Penn Mutual) commercial mortgage pass-through certificates, series 1996-PML, as follows:
--$11.7 million class M to 'AA' from 'A'.
In addition, Fitch affirms the following classes:
--Interest-only class X-1 at 'AAA';
--Interest-only class X-2 at 'AAA'; - Fitch Rates BAFC $707MM P-T Ctfs Series 2006-5
Banc of America Funding Corporation (BAFC) mortgage pass-through certificates, Series 2006-5, are rated by Fitch Ratings as follows:
--$680,804,133 Classes 1-A-1 through 1-A-14, 2-A-R, 2-A-1 through 2-A-13, 3-A-1 through 3-A-4, 4-A-1 through 4-A-8, 30-IO, and 30-PO, 'AAA' ('senior certificates');
--$15,232,000 Class B-1 'AA';
--$4,605,000 Class B-2 'A';
--$2,834,000 Class B-3 'BBB'; - Forbes.Com and Podbridge Announce Agreement to Offer New Advertising Capabilities for Downloadable
Forbes.com and Podbridge, Inc., the leading audio and video podcast advertising platform, today announced that Podbridge will be the exclusive provider of audience measurement tools and ad insertion services for all Forbes.com podcasts. Under the agreement, Forbes.com will utilize the Podbridge platform to gain insight into podcast consumption, including detailed statistics on the number of downloads and plays, and to dynamically insert targeted ads into all of Forbes.com’s video podcasts. - Full Capture Solutions, Inc. Secures $7 Million in Series B Funding
Full Capture Solutions, Inc., a provider of predictive, analytic-driven solutions for the insurance industry, has secured $7 million in a Series B financing round. Greylock Partners, one of the world's leading venture capital firms, led the round, with existing investor Ignition Partners also participating. - IncreMental Advantage and Due Diligence Digest Open 2006 Pension Fund and Endowment Due Diligence
IncreMental Advantage and Due Diligence Digest have released their 2006 Pension Fund and Endowment Due Diligence Survey Tuesday, September 26, 2006 to gain more insight into this topic for an upcoming research report. - First Mutual Bancshares Schedules Third Quarter 2006 Conference Call
First Mutual Bancshares, Inc. (Nasdaq:FMSB) today scheduled its quarterly earnings release and conference call. The holding company for First Mutual Bank expects to report results for the third quarter of 2006 after the market closes on Tuesday, October 24, 2006. Management will host an analyst call the following morning to discuss the results.
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