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.
Neil Anderson, Managing Editor
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