Last week, an Indiana charity that “makes wishes come true” for children with life threatening illnesses filed arbitration claims over sub-prime related losses it allegedly suffered in a bond fund managed by Regions Morgan Keegan. The Indiana Children’s Wish Find claimed that it lost $48,000 or 22% of its $220,000 investment in the Regions Morgan […]
Three fixed-income funds offered by Morgan Keegan & Co., whose assets have been difficult to price because of the subprime mortgage crisis, still cannot file annual reports, a spokeswoman said on Monday. Morgan Keegan, a unit of Regions Financial Corp., said on Aug. 30 it was seeking a 15-day extension to file the annual reports […]
Jim Kelsoe, a top-ranked junk-bond fund manager since 2000, dropped to last place this year because of losses tied to mortgages for people with poor credit. Kelsoe’s $1.1 billion Regions Morgan Keegan Select High Income Fund fell 4.2 percent from the beginning of 2007 as defaults on subprime home loans reached a five-year high. The […]
Today, the Wall Street Journal reported that the credit crunch is starting to hit some bond mutual-fund investors in unexpected ways, some are now taking legal recourse for losses in their investments. In the most recent instance, an Indiana charity filed an arbitration complaint against Memphis, Tenn., broker-dealer Morgan Keegan & Co. unit of Regions […]