MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Tuesday, March 23, 2010 Schwab Fights the SEC's YieldPlus Inquiry While defending itself against an investor lawsuit over the YieldPlus fund, Charles Schwab has also been fighting to prevent an attack from another party: the SEC. Fundsters interested in the details of the YieldPlus saga may want to take a look at Karen Gullo and David Scheer's article today in Bloomberg/BusinessWeek. The tale of YieldPlus' woes begins in 2006, when the fund began investing heavily in mortgage-backed securities. (Between January 1 and March 28, 2008, the fund lost 16.8 percent of its value.) Both the suing investors and the SEC have attacked Schwab for making that shift without holding a shareholder vote. The SEC first sent Schwab a Wells notice about the investigation in October 2009. Printed from: MFWire.com/story.asp?s=31733 Copyright 2010, InvestmentWires, Inc. All Rights Reserved |