Morgan Keegan Investment Fraud » Helios http://www.morgankeegan-lawsuit.com Tue, 06 Jul 2010 16:03:08 +0000 http://wordpress.org/?v=2.8.5 en hourly 1 Helios bond funds set for liquidation http://www.morgankeegan-lawsuit.com/news/2009/04/08/helios-bond-funds-set-for-liquidation/ http://www.morgankeegan-lawsuit.com/news/2009/04/08/helios-bond-funds-set-for-liquidation/#comments Wed, 08 Apr 2009 13:00:46 +0000 Wendi Lewis http://www.morgankeegan-lawsuit.com/?p=123 SOURCE: Morgan Keegan Investment Fraud › Helios bond funds set for liquidation

]]> Three former Regions Morgan Keegan bond funds that were renamed under the Helios brand when Hyperion Brookfield Asset Management acquired them are now set for liquidation, pending stockholder approval. The troubled funds were acquired after suffering significant and sudden losses during the subprime mortgage crisis.

Morgan Keegan is defending hundreds of arbitration lawsuits regarding the funds, which were backed by risky mortgage-related assets. Investors allege the funds were represented as low-risk securities, but when the mortgage crisis hit beginning in the middle of 2007, the funds suffered staggering and sudden losses. Some funds dropped between 62 and 82 percent almost overnight.

After Hyperion aquired the RMK funds, several of them were rebranded under the Helios name. Funds set for liquidation are Helios Select High Income (HIFAX), Helios Select Intermediate Bond (HSIBX) and Helios Select Short Term Bond (MSBIX).

Source: Morningstar Fund Times

SOURCE: Morgan Keegan Investment Fraud › Helios bond funds set for liquidation

]]> http://www.morgankeegan-lawsuit.com/news/2009/04/08/helios-bond-funds-set-for-liquidation/feed/ 0 McCarver gets $100,000 in RMK claim http://www.morgankeegan-lawsuit.com/news/2009/03/03/mccarver-gets-100000-in-rmk-claim/ http://www.morgankeegan-lawsuit.com/news/2009/03/03/mccarver-gets-100000-in-rmk-claim/#comments Tue, 03 Mar 2009 22:56:41 +0000 Wendi Lewis http://www.morgankeegan-lawsuit.com/?p=108 SOURCE: Morgan Keegan Investment Fraud › McCarver gets $100,000 in RMK claim

]]> tim mccarver 150x150Noted baseball announcer Tim McCarver, who entered an arbitration case against Morgan Keegan & Co. in November 2008 claiming $1.6 million in losses has received $100,000 in compensatory damages, The Memphis Daily News reports.

The Memphis native best known for his Major League career with the St. Louis Cardinals wanted to work with his hometown brokerage firm when he selected Morgan Keegan – based in Memphis and owned as a subsidiary of Birmingham, Ala. based Regions Financial Corp. – for his investments, the News says. However, his funds were placed in high-risk funds, resulting in unusually fast and severe losses.

The troubled funds were shifted to Hyperion Brookfield Asset Management in the summer of 2008, and the company has rebranded the funds under the Helios name.

Although McCarver received much less than his reported losses, the News quotes him as being happy with the result of the case, saying, “ was found liable. I am delighted.”

SOURCE: Morgan Keegan Investment Fraud › McCarver gets $100,000 in RMK claim

]]> http://www.morgankeegan-lawsuit.com/news/2009/03/03/mccarver-gets-100000-in-rmk-claim/feed/ 0 tim-mccarver RMK fund set for liquidation http://www.morgankeegan-lawsuit.com/news/2009/01/14/rmk-fund-set-for-liquidation/ http://www.morgankeegan-lawsuit.com/news/2009/01/14/rmk-fund-set-for-liquidation/#comments Wed, 14 Jan 2009 22:51:51 +0000 Wendi Lewis http://www.morgankeegan-lawsuit.com/?p=94 SOURCE: Morgan Keegan Investment Fraud › RMK fund set for liquidation

]]> The Memphis Daily News recently reported that Hyperion Brookfield Asset Management, which in July took over administration of seven Regions Morgan Keegan funds under fire for misrepresentation, will liquidate one of the funds, pending shareholder approval. The fund in question is the Morgan Keegan Select Short Term Bond Fund.

Hyperion took over management of the Morgan Keegan investment arm of after several funds suffered steep and sudden drops in value as a result of their connection to the subprime mortgage securities market.

On Dec. 30, the Daily News announced that Hyperion had changed the names of seven former RMK investment funds, now calling them Helios funds, reflecting the change in management, and of course removing the stigma of the RMK investment debacle.

Sales of the Select Short Term Bond Fund shares to new investors will stop effective Jan. 23.

SOURCE: Morgan Keegan Investment Fraud › RMK fund set for liquidation

]]> http://www.morgankeegan-lawsuit.com/news/2009/01/14/rmk-fund-set-for-liquidation/feed/ 0 RMK funds change names to reflect new Helios brand http://www.morgankeegan-lawsuit.com/news/2008/12/30/rmk-funds-change-names-to-reflect-new-helios-brand/ http://www.morgankeegan-lawsuit.com/news/2008/12/30/rmk-funds-change-names-to-reflect-new-helios-brand/#comments Tue, 30 Dec 2008 17:51:26 +0000 Wendi Lewis http://www.morgankeegan-lawsuit.com/?p=90 SOURCE: Morgan Keegan Investment Fraud › RMK funds change names to reflect new Helios brand

]]> According to a report in the Memphis Commercial Appeal today, seven former Regions Morgan Keegan investment funds have changed their names, and six have new trading symbols. The changes reflect the change in management from Financial to Hyperion Brookfield Asset Management, which took over the troubled investment arm in July. Each fund name now starts with Helio, which is Hyperion’s brand name.

The Commercial Appeal quotes Marion Hayes, a spokesperson for Hyperion, as saying, “It’s not right for these funds to be named Morgan Keegan funds when they’re managed by us.”

The change affects four closed-end funds and three open-end funds. Hyperion took over management of the Morgan Keegan investment arm from after several funds suffered steep and sudden drops in value as a result of their connection to the subprime mortgage securities market.

Following is a list of the changes:

Former RMK funds:
Helios Advantage Income Fund: From RMA to HAV
Helios High Income Fund: From RMH to HIH
Helios Multi-Sector High Income Fund: From RHY to HMH
Helios Strategic Income Fund: From RSF to HSA

Former - Select funds:
Helios Select High Income Fund: From MKHIX to HIFAX
Helios Select Intermediate Income Fund: From MKIBX to HSIBX
Helios Select Short Term Bond Fund: MSBIX, no change

SOURCE: Morgan Keegan Investment Fraud › RMK funds change names to reflect new Helios brand

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