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Barclays rolls out ETF-based charitable-giving program

October 6th, 2009

Before You Invest

Donors will be able to use 25 different iShares offerings to customize their investments

Barclays Global Investors has launched the iShares Charitable Giving Program, which offers clients access to donor-advised funds using pools of its exchange-traded funds.
It’s thought to be the first time that a major fund firm has offered a charitable-giving program using only ETFs, said Eileen Heisman, president and chief executive of the National Philanthropic Trust, a national donor-advised fund program and charity with $660 million in assets under management.

“To my knowledge, it’s very unique among [large financial] firms,” said Ms.

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Tags: Assets Under Management, Barclays Global Investors, Charitable Causes, Donor Advised Fund, Donor Advised Funds, Endowment Foundation, Exchange Traded Funds, Financial Advisers, Heisman, Industry Officials, Investment Account, Investment Firms, Investment Pools, John Tobin, Michael Latham, Minimum Investment, National Philanthropic Trust, Natural Fit, Philanthropic Legacy, Philanthropic Projects

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Freeze Of Wisconsin-Based Investment Adviser Charged in Kickback Scheme

May 22nd, 2009

Before You Invest

The Securities and Exchange Commission has obtained an emergency court order to freeze the assets of an Appleton, Wisc.-based investment adviser charged with engaging in a kickback scheme and other fraudulent conduct involving six unregistered investment pools it managed.

According to the SEC’s complaint, Wealth Management, Putman, and Fevola caused clients to invest in the pools throughout the period of May 2003 through August 2008, and Wealth Management claims to currently have approximately $102 million of its clients’ assets invested in these pools.

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Tags: Appleton, Assets, Complaint Alleges That, Complaint Charges, Disgorgement, Emergency Relief, Federal Securities Laws, Fevola, Fraudulent Conduct, Injunctions, Investment Adviser, Investment Pools, Kickback Scheme, Putman, Redemptions, Securities And Exchange, Securities And Exchange Commission, Valuations, Wealth Management, Wisc

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Hedge funds bank on gold

March 12th, 2009

Before You Invest

Falling currency yields and continuing uncertainty over the worldwide economy have sparked a new gold rush in the global hedge fund industry.

According to the Financial Times, investment pools that have traditionally avoided gold investments are buying up the precious metal at a sometimes record pace as a way of betting against central banks and paper currencies.

These “gold bulls” include funds that last year bet against investment banks like Lehman Brothers being able to cover their exposure to a collapse in US house prices.

One such fund manager, David Einhorn of Greenlight Capital, wrote to investors last week stating that he is buying gold because the US dollar is “being debased” as the Federal Reserve takes on more and more debt.

“Deflation will lead to further steps to debase the currency, while inflation speaks for itself,” he added.

Peter Munk, the founder of the world’s largest gold miner Barrick, recently said that the price of metal’s price could break the $2,000-per-ounce barrier if central banks shift some of their dollar reserves into gold.