Australian wealth manager IOOF hit with class-action lawsuit

SYDNEY (Reuters) – Australia’s embattled second-largest wealth manager, IOOF Holdings Ltd, was sued on Friday by shareholders who alleged the company engaged in deceptive conduct and breached stock market disclosure obligations. The class-action lawsuit is the ninth against a major financial firm since a public inquiry last year uncovered widespread misconduct in Australia’s financial system, […]

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U.S.-based investment-grade bond funds extend 2019’s weekly inflow streak

(Reuters) – Investors put money to work in corporate credit markets in the latest week, with U.S.-based investment-grade corporate bond funds attracting about $3.47 billion in the week ended on Wednesday, the group’s 11th consecutive weekly inflow, according to Refinitiv’s Lipper research service data on Thursday. Appetite returned for their equity counterparts. U.S.-based equity funds […]

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Starboard drops Dollar Tree board challenge

(Reuters) – Activist investor Starboard Value LP said on Friday it was withdrawing its nominations for directors at Dollar Tree Inc’s board, saying that it was pleased with the company’s decision to test multiple price points at its stores. Starboard in January pushed for changes at the discount chain, seeking to capitalize on criticism from […]

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Huge inflows to U.S. high-yield bond, investment-grade debt funds

(Reuters) – Investors’ appetite for risk-taking was strong in the latest week, as U.S.-based high-yield junk bond funds attracted more than $2 billion in the week ended Wednesday, marking the group’s fourth consecutive week of inflows, according to Refinitiv’s Lipper research service data. Additionally, U.S.-based investment-grade corporate bond funds attracted over $2.9 billion in the […]

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