ProFunds Group, the world's largest manager of short and leveraged funds, announced today that Todd Johnson has been named Chief Investment Officer. Mr. Johnson, formerly with World Asset Management, will oversee all investment operations for ProShares ETFs and ProFunds mutual funds. The firm's acting Chief Investment Officer, George O. Foster, CFA, is assuming new responsibilities, including directing the firm's product development strategy.
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PNC Global Investment Servicing announced today that Nancy B. Wolcott has been named president. Wolcott will report to Stephen M. Wynne, chief executive officer.

Local hotel executives Robert Solmson and Ed Ansbro have partnered with a New York businessman to launch a hotel investment fund. Fairwood Capital LLC will acquire full service hotels and maintain offices in Memphis and New York City. Solmson founded and is the former CEO of Memphis-based RFS Hotel Investors Inc., a hotel real estate investment trust which was acquired CNL Properties in 2003 for $700 million.

The 14th Annual Gaim International 2008, the global hedge fund industry’s flagship conference, attracted the largest proportion of asset allocators in alternatives than any other alternatives event.

Perth, Australia’s gateway to Biotechnology in Asia will host the inaugural annual BioNet Asia Pacific Investors Summit. The event will bring together investors, biotechnology executives and support professional from Australia and Asia to showcase their respective businesses and trade valuable business lessons with their counterparts from the region.

The 2008 Life Sciences & Healthcare Venture Summit presented by youngStartup Ventures is the premier bioscience industry gathering, connecting senior executives of early stage biotech, pharmaceutical, healthcare, medical device and diagnostic companies with venture capitalists, angel investors, corporate VCs and professional service firms.

Whether you're seeking funding, partnerships or new investment opportunities, The Life Sciences & Healthcare Venture Summit is one event you won't want to miss.

Medtech Insight and Windhover Information will present their "Investment In Innovation (In3) East" Conference Oct. 22-24 at The Westin Copley Place in Boston, MA. The event will bring together 50+ early- to late-stage medical device companies with the biggest dealmakers in the device business development and healthcare investment communities from the East Coast and around the world, for purposes of funding and/or strategic partnership. continue reading

BIT's Bio-Venture Capital Forum is the echo of successful and fruitful "Summer Davos" 2007, it is committed to a comprehensive, coordinated and sustainable path of biotechnology development. Bio-VC is the place where bio venture and high tech companies in & outside China present their unique technologies to professionals around the world.
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Finvest Asset Management recently launched its new proprietary risk and compliance operations management system (RACOM), in a move which is set to prepare it to accommodate accelerated entry into the European and offshore markets. Finvest is an asset management firm that has successfully managed several funds for non-US investors since 2000. The total AUM which it manages offshore exceeds USD 450 million.

Southeastern Asset Management, a longtime major General Motors Corp. investor, has sold its 7.9% stake in the auto maker's common stock and replaced it with 34 million shares of senior convertible debt that is convertible to a 2.3% stake in the company at any point, according to recent filings.

The whole managed funds sector is sorely out of favour and that's to be expected. But have investors overlooked the likely flow-on benefits of the proposed Westpac-St George merger to BT Investment Management? The union will deliver St George's Asgard wealth management platform to Westpac, which still owns BT Wrap. Combined, the operations will leapfrog rivals such as MLC and Macquarie, creating the biggest wealth manager.

THE EUROPEAN asset-management industry is set to shrink under the pressure of mutual funds' worst recorded outflows, institutional investors' lack of interest in mainstream products, and the first net redemptions from hedge funds in more than a decade.

HSBC Global Asset Management said on Thursday it will launch a Middle East and North Africa fund next month as part of its plans to expand its capabilities in frontier markets.

Financial Advisor Magazine published its "2008 RIA Ranking," in which it named its selection of the top registered investment advisors in the nation. The article appeared in July, 2008.

Financial Advisor Magazine ranked The Colony Group in the top 50 among the 384 leading advisory firms it recognized. This is the second time this year that The Colony Group has been ranked nationally by a major publication in the investment field. Earlier this year, Registered Rep Magazine included The Colony Group in its ranking of the top 100 registered investment advisors in the country. continue reading

Defense contractor Herley Industries Inc. said Tuesday it is exploring a possible sale and has enlisted an outside firm to serve as its financial advisor.

Jefferies Quarterdeck, a division of Jefferies & Company Inc., will assist Herley in its deliberations of "strategic alternatives," the company said in a statement.

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