Investment News articles from August 2005

Investment News archives from August 2005

North American wirehouses and regionals ranked by retail reps.(Broker-Dealers)
August 8, 2005... Broker-dealer No. of reps 1 Merrill Lynch & Co. Inc. 13,320 Four World Financial Center 250 Vesey St. New York, NY 10080 (212) 449-1000 E. Stanley O'Neal, chairman, CEO and president 2 Citigroup Global Markets...

Ruling offers lesson in fiduciary responsibility; Some 401(k) advisers might be plan fiduciaries under ERISA.(News)
August 8, 2005... Byline: Rick Miller CHICAGO - A federal appeals court case involving a Utah investment adviser who confessed to embezzlement in a suicide note and an accountant whose actions unwittingly contributed to the scheme serves as a lesson to...

One on One With Jane M. Young of Pinnacle Financial Concepts Inc.(One on One)
August 8, 2005... Byline: Charles Paikert Jane M. Young, co-owner of Pinnacle Financial Concepts Inc., has been passionate about investing since she was 15 years old. "I always wanted to know how the stock market worked,'' she said, "and I read...

LTC holders could catch a Medicaid break; 2 bills in Congress would give states option on eligibility.(News)
August 8, 2005... Byline: Sara Hansard WASHINGTON - Americans may soon have a new incentive to buy long-term-care insurance. Two bills introduced the day before the August congressional recess would encourage the purchase of LTC insurance by allowing...

Congress showing signs of life.(Short Interests)
August 8, 2005... Byline: Gary S. Mogel NEW YORK - In September, consumers' fancies will turn to thoughts of life insurance - or so Congress, the life insurance industry and actress Marilu Henner hope. On July 25, the U.S. House of Representatives...

Independent directors launch counterattack; Out to foil Chamber in its bid to stop SEC governance rule.(News)
August 8, 2005... Byline: Dan Jamieson IRVINE, Calif. - Independent mutual fund directors are mounting a counterattack against efforts to stop a new rule that would require independent chairmen for mutual fund boards. The Securities and Exchange...

Simon Cowell's 'Million Dollar' baby.(Short Interests)
August 8, 2005... Byline: Sara Hansard WASHINGTON - Sharp-tongued Brit Simon Cowell, who regularly disparages would-be pop stars on the "American Idol'' television show, now is looking for budding or overlooked entrepreneurs with promising business ideas....

Want to replace Greenspan? Get in line.(Reverse Spin)
August 8, 2005... Byline: Rick Miller Heard about the three candidates most likely to succeed Federal Reserve Board Chairman Alan Greenspan when he retires in January? Actually, make that four. The candidates that the White House is reportedly...

Court limits advisory-fee deductions.(Tax Watch)
August 8, 2005... Byline: Mark Battersby The U.S. Tax Court recently ruled that investment advisory fees paid by a trust are not unique to the administration of an estate or trust, as required for a full deduction. Therefore, the court ruled that they...

Firms are moving away from fee-based accounts; Regulatory spotlight influencing moves by brokerage houses.(News)
August 8, 2005... Byline: Dan Jamieson IRVINE, Calif. - Brokerage firms are de-emphasizing fee-based brokerage accounts as a result of the regulatory spotlight aimed at the programs. In some cases, broker-dealers are developing advisory accounts to...

S&P to track top-performing funds for consistency; Finds past performance may be an indicator of future results.(News)
August 8, 2005... Byline: Frederick P. Gabriel Jr. BOSTON - Standard & Poor's has a new measure for evaluating mutual funds: consistency. The company, which already ranks funds based on their performance, has unveiled a score card designed to track...

Schwab makes separate accounts more portable; New platform may entice wirehouse brokers.(News)
August 8, 2005... Byline: Brooke Southall SAN FRANCISCO - The king of asset custodians is adding a key item to its fast-food menu in an effort to keep its current adviser clients happy as well as to entice wirehouse and regional brokers. Schwab...

There's little longing for the long bond.(Short Interests)
August 8, 2005... Byline: Rick Miller CHICAGO - The 30-year Treasury bond will return, but don't bet on a welcome-back party from investment advisers and portfolio managers. "I don't think it's a huge deal,'' said Warren Pierson, senior portfolio...

Setting a new standard at the SEC.(Other Views)
August 8, 2005... Byline: Paul Schott Stevens The controversial manner in which the Securities and Exchange Commission readopted its mutual fund governance requirements should not obscure the fact that the decision of the U.S. Court of Appeals for the...

Smith Barney serves up attractive comp packages; Top reps to get bonuses of $1M+ in cash, stock.(News)
August 8, 2005... Byline: Bruce Kelly NEW YORK - In the wake of the the parent companies' proposed June swap of business units, Smith Barney appears intent on making retail brokers at Legg Mason Wood Walker Inc. happy with an attractive compensation...

Looking for firms on the right side of China's yuan switch; Currency revaluation by China is good and bad for U.S. companies.(News)
August 8, 2005... Byline: Liz Skinner WASHINGTON - The ubiquitous "made in China'' label just got more expensive. The recent revaluation of China's yuan boosted the currency by about 2% against the U.S. dollar. While the scale of the revaluation is...

Advice to advisers: Don't give away insurance business; No-load execs say fee-based advisers can charge.(News)
August 8, 2005... Byline: Gary S. Mogel NEW YORK - Fee-only financial advisers are leaving money on the table when they refer clients to agents instead of handling the business themselves, says the head of a life insurer specializing in no-load insurance...

Investors hedge their bets.(Short Interests)
August 8, 2005... Byline: Jeff Benjamin DETROIT - Investors are starting to tighten their purse strings when it comes to hedge funds, according to the latest data from Tremont Capital Management Inc. The Rye, N.Y.-based hedge fund industry consulting...

Estate lawyers fear being cut out of will; Legislation could diminish their role in living wills.(News)
August 8, 2005... Byline: Rick Miller CHICAGO - In the wake of the Terry Schiavo right-to-die case, Congress has been considering ways to promote living wills to the general public. But some estate planning lawyers are concerned that proposed...

Only 20% of pre-retirees understand LTC; Adviser puts costs of care in terms clients can fathom.(News)
August 8, 2005... Byline: Gary S. Mogel NEW YORK - Long-term-care costs continue to threaten retirees' assets and lifestyles, yet few retirees understand how LTC insurance works, according to research released last month. A financial adviser...

Gabelli-run fund cautiously invests in M&A targets.(Street Wise)
August 8, 2005... Byline: Jeff Benjamin It is safe to say that the Enterprise Mergers & Acquisitions Fund (EMAAX) came to the market in February 2001 with a certain amount of momentum. The $350 million fund is subadvised by Gabelli Asset Management...

Raymond James to stop battling with regulators; Concedes there are some fights it can't win.(News)
August 8, 2005... Byline: Bruce Kelly NEW YORK - Raymond James Financial Inc. is through publicly jousting with securities regulators and is developing a new system for its affiliated registered representatives to ensure clients get a better deal on...

NASD keeping the heat on fee-based brokerage accounts; Fines Morgan, says other probes are under way.(News)
August 8, 2005... Byline: Bruce Kelly NEW YORK - NASD last week took another swipe at a leading broker-dealer for failing to monitor sales of fee-based brokerage accounts properly, this time fining Morgan Stanley $1.5 million and ordering it to pay $4.6...

Closing Quote.(Quotes)
August 8, 2005... "It's going to encourage people to go see a doctor.'' David A. Rubin, an estate-planning attorney, responding to legislation that could diminish a lawyer's role in living wills. Page 36

Boston Capital Corp. offers its first REIT; It can be used as a hedge against more volatile real estate investments.(News)
August 8, 2005... Byline: Jeff Benjamin DETROIT - Boston Capital Corp. has carved out a section of the real estate market that could provide financial advisers with some ballast for their client's portfolios. The Boston-based asset management shop is...

Monitoring investment strategy: Beyond performance.(Fiduciary Corner)
August 8, 2005... Byline: Donald B. Trone Once a client's optimal portfolio has been designed and implemented, the final critical step is the monitoring of the investment process. Monitoring should extend beyond a strict examination of investment...

Five key lessons from top managers.(Investment Strategies)
August 8, 2005... Byline: Scott Kays It seems as though you can't pick up a financial publication or watch CNBC without reading and hearing about the latest stock-picking methodology "guaranteed'' to make you rich. But financial advisers know that if there...

Calendar.(Calendar/Datebook)
August 8, 2005... AUGUST 9 - Semiannual Market Forecast: Market Forecast Poker - Hold 'Em or Fold 'Em?, New York Society of Security Analysts. The Harvard Club, New York. (212)541-4530 or nyssa.org. 10 - On-campus review class, GS 836 Business...

Brokers must come to terms with the changing business; Industry now seeks wealthy clients while building fee business.(Broker-Dealers)
August 8, 2005... Byline: Dan Jamieson IRVINE, Calif. - Traditional brokerage firms are having a midlife crisis. They're attempting to create a "wealth management'' approach built around fee-based business in the hopes of capturing more assets from...

Industry is hopeful SEC chief will stem flood of regulations; But consumer units fear anti-investor bias.(News)
August 8, 2005... Byline: Sara Hansard WASHINGTON - All eyes are upon Christopher Cox as he begins his first full week as chairman of the Securities and Exchange Commission. While some consumer groups are sounding the alarm about his pro-business record...

Optimism about retirement linked to level of control.(Monday Morning)
August 8, 2005... Byline: Mike Clowes A new survey of international attitudes toward retirement, sponsored by AARP of Washington, suggested that Australians and Canadians are the most optimistic about retirement, followed by Americans and the Japanese,...

New kid on the blog.(Short Interests)
August 8, 2005... Byline: Charles Paikert NEW YORK - Blogging fever has hit financial services. Financial planners and advisers can now vent, rant, report, commiserate, ask questions or discuss current financial topics on a new web log, or blog,...

529 plan community unhappy with proposal to boost scrutiny; States, providers see regulations discouraging sales.(News)
August 8, 2005... Byline: Charles Paikert NEW YORK - A regulatory proposal that would shed more light on the sale of 529 plans through brokers is drawing fire from state officials and financial services companies. Under a rule proposed by the Municipal...

Tax reform, long overdue, must deliver predictability.(Editorial)
August 8, 2005... This country is at a very promising moment in time. Suddenly, the idea of tax reform is back on the radar of our legislators - and none too soon. For many years, the powers that be have tried a variety of Band-Aid solutions to solve the...

High hopes for repealing sunset on 529 exemptions.(Conference Call)
August 8, 2005... Byline: Charles Paikert BALTIMORE - State officials who oversee Section 529 college savings plans are becoming more and more confident that legislation to make their federal tax-exempt status permanent could become law by the end of 2006....

Getting in on the top floor.(Short Interests)
August 8, 2005... Byline: Frederick P. Gabriel Jr. NEW YORK - What goes up must come down, and mutual funds are no exception. ProFund Advisors LLC, which is best known for catering to market timers, is betting against some of the hottest segments of the...

Separates managers may drag feet on performance reports; CFA Institute's authority on rules could be challenged.(News)
August 8, 2005... Byline: Jeff Benjamin DETROIT - In a last-ditch effort to dodge tougher performance-reporting standards, the separately managed accounts industry is going for the jugular of the CFA Institute. If the standards are implemented in their...

CFP Board raises bar for mark; Tightens standards for designation.(News)
August 8, 2005... Byline: Riva Froymovich ***** Correction: An article, "CFP Board raises bar for mark,'' in the July 25 issue described an online-course option offered by the College for Financial Planning in Greenwood Village, Colo., as "a fast way...

Memo to U.S. workers: Time to follow the leader.(Monday Morning)
August 15, 2005... Byline: Jim Pavia Summer vacation is a time when many people consciously practice the art of relaxation. But for many American workers, kicking back is hard to do. There is one American, however, who has embraced the vacation concept....

Merrill settles lawsuit over error policy, overtime; Calif. reps will get checks; policies won't necessarily change.(News)
August 15, 2005... Byline: Dan Jamieson IRVINE, Calif. - Merrill Lynch & Co. Inc. of New York has settled a class action that challenged the firm's policies of forcing brokers to pay for trading errors and sales assistants, and of not paying brokers...

States probe MetLife over payout practices; Subpoenas signal push to crack down on incentives.(News)
August 15, 2005... Byline: Bruce Kelly NEW YORK - MetLife Inc. has received subpoenas from the attorney general of Florida and the insurance commissioner of Oklahoma seeking documents detailing compensation for, respectively, "intermediaries'' and "insurance...

Cowell, ABC sued.(Short Interests)
August 15, 2005... Byline: Sara Hansard WASHINGTON - A lawsuit filed in federal court in Los Angeles Aug. 10 claims that Simon Cowell, the prickly judge on the "American Idol'' reality television show, and ABC Television Network stole a trademarked brand - a...

Ventura highway to Social Security reform? Calif. FPA chapter tired of waiting for national to act.(News)
August 15, 2005... Byline: Sara Hansard WASHINGTON - As Washington lobbyists ponder upcoming Social Security and pension bills, one California chapter of the Financial Planning Association isn't waiting for its national organization to act. The Ventura...

FSI calls proposed NASD contest rule 'anti-competitive'; Trade group points to `unintended consequence'.(News)
August 15, 2005... Byline: Bruce Kelly NEW YORK - The Financial Services Institute says NASD's recent rule proposal on sales contests is "anti-competitive'' and "confusing,'' and would be a burden to independent-contractor broker-dealers. If the...

Owners setting up their furred and feathered friends for life; Pet trusts are a business opportunity that financial advisers may be missing.(News)
August 15, 2005... Byline: Rick Miller CHICAGO - Should something unfortunate occur to Steven and Kay Wyatt of Depoe Bay, Ore., they've made arrangements so that Blackie, Kaydee, Sasha, Smokey, Elliot, Nala and Heidi are set for life - probably all nine of...

One on One With E. Thomas Foster Jr. of The Hartford.(One on One)
August 15, 2005... Byline: Rick Miller E. Thomas Foster Jr. says God gave him a second chance at life. And as The Hartford's retirement plan guru, he spends each day trying to live up to his end of the bargain. Nine years ago, doctors told Mr....

A shift for iShares.(Short Interests)
August 15, 2005... Byline: Brooke Southall SAN FRANCISCO - Barclays Global Investors believes that the health of its exchange traded funds is best served by moving most of them. But it still fears that they could end up with bum tickers. The San...

The k's not for 'kryptonite'.(Short Interests)
August 15, 2005... Byline: Rick Miller CHICAGO - Faster than a day trader, more powerful than New York Attorney General Eliot L. Spitzer, able to read mutual fund prospectuses in a single sitting: It's Captain 401(k). With personal-savings rates at...

Charter seen likely to halve regulatory costs.(Short Interests)
August 15, 2005... Byline: Sara Hansard WASHINGTON - About 55% of the nearly $1.2 billion in annual regulatory costs for the life insurance industry could be eliminated by offering the industry an optional federal charter for regulation, according to a study...

NASD offers guidance in sale of indexed annuities.(News)
August 15, 2005... Byline: Bruce Kelly NEW YORK - Continuing its push to regulate broker-dealer sales of insurance products, NASD last week issued guidance to its member firms for sales of equity-indexed annuities. In a notice to members last Monday, the...

NASD investigating two execs of small N.Y. broker-dealer; Target of PIPEs probe, it faces `solvency issue'.(News)
August 15, 2005... Byline: Bruce Kelly NEW YORK - NASD is investigating two top executives of a small New York broker-dealer for a variety of rule violations, including a failure to maintain the firm's net capital requirements. Anthony Ottimo, chief...

Assisted living gets boost from decline in nursing home beds.(Short Interests)
August 15, 2005... Byline: Gary S. Mogel NEW YORK - A decline in the amount of nursing home beds has caused more elderly and disabled people to rely on assisted living, according to a study released this month by the Center for Personal Assistance Services...

Retirement planning, insurance top issues.(Short Interests)
August 15, 2005... Byline: Gary S. Mogel NEW YORK - Three-quarters of 47 respondents to an adviser's client survey released last week said that retirement planning is the most pressing issue they face. Among their other key concerns was that they might not...

Fraudsters pose as anti-fraud group.(Short Interests)
August 15, 2005... Byline: David Clarke OTTAWA - Fraudsters are attempting to fleece financial institutions by claiming to represent an intergovernmental policy-making group that works at both national and international levels to combat money laundering and...

Closing Quote.(Quotes)
August 15, 2005... "The friends who do not have pets think we are nuts.'' Kay Wyatt, who with her husband, Steven, has established a pet trust for their seven cats. Page 26

Russell's new index a beacon to micro-cap manager.(Street Wise)
August 15, 2005... Byline: Jeff Benjamin When the Russell Investment Group of Tacoma, Wash., launched its first micro-cap-stock index June 24, Stephen Shipman felt as though a light was being shone upon his efforts. Mr. Shipman, a portfolio manager with...

SIA draws fire for trying to delay the Merrill rule; Bureaucracy said to trump investor needs.(News)
August 15, 2005... Byline: Brooke Southall SAN FRANCISCO - The Securities Industry Association's attempt at delaying the so-called Merrill Lynch rule drew caustic responses from various industry observers, including securities lawyers, industry consultants,...

VA sales fuel strong 2Q for many life insurers; But CFOs worry about new biz, capital.(News)
August 15, 2005... Byline: Gary S. Mogel NEW YORK - To an industry in the midst of so much regulatory scrutiny and other troubles, second-quarter financial results for the major life and annuity insurers looked pretty good. But most life insurance...

Independent fund boards? Not yet.(Reverse Spin)
August 15, 2005... Byline: Rick Miller Independence Day for mutual fund boards is off the calendar for now. A federal appeals court last week ordered the Securities and Exchange Commission to delay implementation of a rule requiring mutual-fund-board...

Antidote for investor fear: Some careful planning.(Other Views)
August 15, 2005... Byline: John Valentine I recently spent some time engaged in some deep introspection. It was during a flight home from one of the frequent trips I make to meet with my clients in different parts of the country. My trip had gone well, and I...

Retail future cloudy at Morgan Stanley; With 1,000 reps gone, survivors ponder firm's direction.(News)
August 15, 2005... Byline: Dan Jamieson IRVINE, Calif. - The first "Mack attack'' at Morgan Stanley, which eliminated about 1,000 lower- producing reps last Thursday, has left survivors wondering about their own futures and the future of retail at the firm....

Advisers plowing back profits into growth; Significant increases in capital spending.(News)
August 15, 2005... Byline: Brooke Southall SAN FRANCISCO - At long last, independent financial advisers are spending on the future. "This feels like a spending year,'' said Dan Skiles, the Denver-based senior vice president of technology consulting at...

At the Bell; NASD hits Mich. firm with 675G fine.(Late News)
August 15, 2005... NASD has hit another broker-dealer with a fine over revenue sharing. Hantz Financial Services Inc. of Southfield, Mich., was fined $675,000 Thursday for "fraud and misrepresentation relating to undisclosed revenue-sharing arrangements'' and...

Board's education policy riles CFPs; Would narrow scope of available courses, according to critics.(News)
August 15, 2005... Byline: Jeff Benjamin DETROIT - The Certified Financial Planner Board of Standards Inc. has inadvertently ruffled the feathers of some financial advisers in its efforts to improve the management and organization of the continuing-education...

Analysts question wirehouses' fee-based numbers; Some lump together all non-commission biz in calculating fee revenue.(News)
August 15, 2005... Byline: Dan Jamieson IRVINE, Calif. - A report issued this month by the Securities Industry Association offers good news: A third of retail brokers' production comes from "fee-based products.'' But some analysts question that number....

Conseco road show a bid to win back distributors; New products, attitude promised.(News)
August 15, 2005... Byline: Gary S. Mogel NEW YORK - Top sales executives of Conseco Insurance Group have embarked on a 30-city road show to win back the hearts and minds of insurance agents and advisers. Many insurance salespeople understandably are wary of...

Contrarian view: High hopes for the long bond; Adviser sees opportunity to make great sums from zero coupons.(News)
August 15, 2005... Byline: Brooke Southall SAN FRANCISCO - Most financial advisers believe that the Department of the Treasury's promise to issue 30-year bonds by February creates the wrong bond at the wrong time. They question why any adviser would want...

To: SEC chairman, re: Unfinished business.(Editorial)
August 15, 2005... Mr. Cox, below is a list of items that should be at the top of your "to do'' list as you take office. Adopt the correct mind-set. You have a reputation for being business friendly. You must adopt an investor-friendly mind-set. Although...

45% cash out 401(k) balance upon leaving.(Short Interests)
August 22, 2005... Byline: Rick Miller CHICAGO - A significant number of employees "cash out'' of their 401(k) plan when they leave their job, according to new research by Hewitt Associates LLC, a human resources services firm in Lincolnshire, Ill. ...

LTC agents link to groups for estate lawyers, women.(Short Interests)
August 22, 2005... Byline: Gary S. Mogel NEW YORK - Long-term-care insurance agencies reached out to two important constituencies this month by establishing affinity marketing programs with trade groups representing estate-planning attorneys and professional...

Your ideas can make you famous (and rich).(Practice Management)
August 22, 2005... Byline: Henry Stimpson If you want to get rich in the financial business, get famous. Do you need to have a megawatt smile full of white teeth, bulging muscles, a glib motor mouth or the investment results of Warren Buffet to achieve...

State Street adds corporate governance to web menu.(Product Watch)
August 22, 2005... State Street Corp. in Boston has added several services and analytics to my.statestreet.com, its secure web-based platform for customer data and applications. The website provides a secure, single entry point to State Street's full suite...

Financial companies use 'pre-emption' against state regulators; Counter sue when officials challenge them.(News)
August 22, 2005... Byline: Sara Hansard WASHINGTON - Financial services companies are trying to turn the tables on state securities regulators by taking the agencies to court, challenging regulators' authority to bring some enforcement actions. State...

Merrill Lynch rule: shoe is on other foot.(Short Interests)
August 22, 2005... Byline: Sara Hansard WASHINGTON - Consumer groups have asked the Securities and Exchange Commission not to delay implementation of a rule that the groups originally opposed. In an Aug. 11 letter to the SEC, the Consumer Federation of...

Surge expected in life insurer M&As; Back-office savings, better ratings sought.(News)
August 22, 2005... Byline: Gary S. Mogel NEW YORK - The quest by life insurers for higher financial ratings and savings in administration costs will likely fuel a new round of consolidation, according to industry analysts. "Many of the lower-rated...

CFA lets separates off the hook; Allows managers to isolate those assets from overall performance.(News)
August 22, 2005... Byline: Jeff Benjamin DETROIT - The separately managed account industry has emerged victorious from its four-year tug of war with the CFA Institute over the issue of performance-reporting standards for money managers. Money managers...

ING brings 'Simplicity' to VA process.(Short Interests)
August 22, 2005... Byline: Gary S. Mogel NEW YORK - Advisers who complain that variable annuities have become too complicated now have an alternative. On Aug. 15, ING U.S Financial Services of Atlanta introduced Simplicity, which senior vice president...

Value fund managers deliver mixed market outlooks.(Conference Calls)
August 22, 2005... Byline: David Hoffman NEW YORK - Put a group of value-oriented fund managers in a room, and you'd expect them to have a similar take on the markets. That was not the case, however, when a handful of value managers whose funds were...

Life agent group supports optional federal charter; Agents for Change looks to counterbalance push by P&C insurance group.(News)
August 22, 2005... Byline: Sara Hansard WASHINGTON - A group of life and health insurance agents is trying to counterbalance the hefty weight of property-casualty agents in the battle over optional federal insurance regulation. The Agents for Change,...

Bond managers adopting absolute-return strategies; Pulling out the stops to increase alpha.(News)
August 22, 2005... Byline: Joel Chernoff SAN FRANCISCO - Move over, traditional fixed income. Absolute-return strategies have arrived. A growing number of "best ideas'' strategies - designed to pick up alpha, or excess return, from a variety of sources...

Philly exchange could be new rival for the NYSE; Investment by Merrill and Citadel is key.(News)
August 22, 2005... Byline: Gregory Crawford NEW YORK - While all eyes are watching The Nasdaq Stock Market Inc. to see if it can make a dent in the New York Stock Exchange's long-standing 80% market share in listed stock trading, the Philadelphia Stock...

Tech IPO market suffers from chronic problems; Even Google couldn't turn the tide for VC-backed technology companies.(News)
August 22, 2005... Byline: Brooke Southall SAN FRANCISCO - A bewildered venture capital industry is licking its wounds now that the market for initial public offerings of technology firms has hit the skids again. Only 10 venture-backed companies pulled...

Janus pushing into institutional market it had neglected; Touts five-year record in traditional growth strategies.(News)
August 22, 2005... Byline: Cecily O'Connor DENVER - Janus Capital Group Inc. is making a major push into the institutional market after largely overlooking it for years. The Denver-based firm, whose assets under management are down 50% from a peak of...

Cohen & Steers broadens its reach, diversifies; Real estate specialist wants to lure more institutional money.(News)
August 22, 2005... Byline: Mark Bruno NEW YORK - One year after becoming a publicly traded company, real estate specialist Cohen & Steers Capital Management Inc. is expanding outside of its comfort zone. The firm, which manages $18.5 billion in worldwide...