MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Friday, April 29, 2011 SEC Bars a Former Bond Fund Star from the Biz The former head of municipal bonds at Schroder Investment Management was just found guilty of insider trading. In Morningstar's Fund Times column, Ryan Leggio reports that an SEC administrative law judge has barred David Baldt from the investment advisory business. When Baldt was at Morgan Grenfell, Morningstar named him fixed income manager of the year for 1997. More recently, Baldt PMed the Schroder Municipal Bond Fund and Schroder Short-Term Municipal Bond Fund from 2003 to 2008. A year ago the SEC accused Baldt of telling two family members to sell their shares of the short-term fund in October 2008, as Schroder warned Baldt that the fund would be liquidated if it didn't gain significant inflows [see The MFWire, 5/14/2010]. He stepped down from the funds on October 14, 2008. Morningstar reports that Baldt continues to proclaim his innocence and plans to appeal. Printed from: MFWire.com/story.asp?s=36666 Copyright 2011, InvestmentWires, Inc. All Rights Reserved |