Blog

Our experts frequently write blog posts about the findings of the research we are conducting.

Displaying 81-90 out of 158 results for "Equity Indexed Annuities".

Major Tenants-in-Common Sponsor Charged with Fraud

(Apr 2013)

Four former executives of DBSI, one of the largest sponsors of tenants-in-common (TIC) interests, have been indicted on 83 counts of securities fraud, wire fraud, mail fraud, and interstate transportation of stolen property. The indictment is seeking approximately $169 million in forfeiture of properties and assets, alleging that the executives misrepresented the financial condition of DBSI to potential investors. The executives named wereformer president Douglas Swenson, general counsel...

Fees on Structured Products Rise as Sales Increase

(Apr 2013)

Kevin Dugan recently reported that fees on structured products linked to stocks have risen to their highest level in three years. In particular Kevin notes that "issuers and underwriters earned $137.7 million in disclosed fees, or 1.95 percent of the $7.08 billion of equity-tied securities" that have a stated commission. Average fees have ranged from less than 1.5% to nearly 2% over the past three years.

The increase in average fees is likely due to the increase in average term for products...

Goldman Sachs Uses JOBS Act to Sidestep Volcker Rule

(Apr 2013)

Evan Weinberger at Law360 is reporting that Goldman Sachs may have found a way around the Volcker Rule--the ban on proprietary trading by banks, which also prohibits sponsoring hedge funds and private equity funds--by using another controversial regulatory measure, the 2012 JOBS Act (of which we have spoken before):

By setting up an independent business development company in which it will hold a minority stake and limited leverage exposures, Goldman will be able to engage in at least limited...

TD Ameritrade Data Suggests Retail Investors Use ETFs in 'Sophisticated Ways'

(Mar 2013)

Exchange-traded funds (ETFs) are increasingly popular among retail investors. ETFs tend to have lower expense ratios than comparable mutual funds, and can be traded intraday like stock, giving them a comparable advantage that has proven attractive. The number of ETF issuers has grown, and that competition has driven down prices in what has become known in the financial press as the "ETF Fee War".

TD Ameritrade has produced an infographic that shows how their clients use ETFs, and the results...

SPIVA Scorecard Year-End 2012

(Mar 2013)

S&P Dow Jones Indices recently released their year-end 2012 report comparing the performance of actively managed mutual funds against their benchmark indices (we covered the year-end 2011 report previously). The S&P Indices Versus Active Funds (SPIVA) Scorecard once again shows that, for the most part, mutual funds tend to underperform their benchmarks:

The year 2012 marked the return of the double digit gains across all the domestic and global equity benchmark indices. The gains passive...

Private Equity Fund Advisers Charged with Misleading Investors about Valuation and Performance

(Mar 2013)

Earlier this week, the SEC charged Oppenheimer Asset Management (OAM) and Oppenheimer Alternative Investment Management (OAIM) with misrepresenting the performance of the Oppenheimer Global Resource Private Equity Fund I L.P. (OGR) in their marketing materials. The SEC found that OGR's manager used his own valuation methodology to value the fund's largest investment, Cartesian Investors-A LLC ("Cartesian"), at a significant markup. This inflated valuation led to a ten-fold increase in OGR's...

SEC Examination Priorities 2013

(Feb 2013)

Last week, the Securities and Exchange Commission announced their examination priorities for 2013 "to communicate with investors and registrants about areas that are perceived by the staff to have heightened risk, and to support the SEC's mission to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation."

For those that are unfamiliar, SEC staff conducts examinations of SEC registrants through their regional offices and headquarters

to determine...

SEC Litigation Releases: Week in Review - February 22nd, 2013

(Feb 2013)

SEC Charges Fund Manager in Scheme Involving Risky Mortgage-Related Investment
February 20, 2013, (Litigation Release No. 22622)
According to the complaint, George Charles Cody Price "raised $18 million for three investment funds through his firm ABS Manager LLC" promising investors that their investments were "secured by government-backed bonds yielding extraordinary double-digit returns as high as 18 percent per year." In reality, Price was allegedly "investing in one the riskiest tranches...

Structured CDs: The Big Picture

(Feb 2013)

This week we have reviewed some of the issues surrounding structured certificates of deposit, giving an introduction, example offering documents (both simple and complex), the basics of FDIC insurance of these products, and a description of some of the tax implications investors should be aware of. We hope we have conveyed our reasons for thinking that structured CDs are complex and risky investments that, like structured products, are rarely suitable for retail investors.

But there is a...

What Does a Simple Structured CD Look Like?

(Feb 2013)

Okay, we've talked a bit about what structured CDs are and why we think they are interesting. But what does a structured CD offering document actually look like? Unfortunately, it isn't possible to find such documents from Bloomberg or the SEC website since structured CDs are not registered securities. However, you can often find offering documents using Google. For example, as a relatively simple equity-linked CD, we're going to take a look at the "Global Opportunity Certificate of Deposit...

158 Results

<
1
...
7
8
9
10
11
...
16
>