Liberty Financial's stock took a dive ($6.88, more than 16 percent, to $35.15) after news of the sale of the annuity biz to Sun Life Financial and flagging earnings, according to Reuters. Investors were disappointed that Liberty's mutual fund sib still awaits a beau while Keyport is sending out wedding invitations.



It's official: Bjurman Funds is imminently about to close its $226 million AUM Micro-Cap Growth Fund to new investors, which had been slated for a $250 million cap, as reported earlier . Senior vice president T. Michael Graf said that, at its current $1 to $3 million in daily growth, the fund should turn off the spigot anywhere from one to two months from now.



Merrill Lynch's Vice Chairman, John "Launny" Steffens, will retire on June 15 to launch an investment management firm specializing in alternative investments and hedge funds.  

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE