Regions just received more bad news related to the Morgan Keegan mutual funds. The Wall Street Journal's Suzanne Barlyn reports that Horace Grant, the retired professional basketball player, won a $1.46 million arbitration award involving four Regions Morgan Keegan funds: Advantage Income Fund, High Income Fund, Multi-Sector Income Fund and Strategic Income Fund.

Regions sold its $2 billion-AUM retail mutual fund business to Pioneer Investment Management earlier this year. The Associated Press reports that Grant initiated his Finra case, which relates to fund losses blamed on mortgage-based collateralized debt obligations, in March 2008.

Grant retired from the NBA in 2004 after playing for both the Chicago Bulls and the Los Angeles Lakers. 

Edited by: Neil Anderson, Managing Editor


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