fund manager

The crisis in financial system in U.S. showed to investors the need to reduce a dependence on dollar-denominated assets and diversify on a global level as shown by the two of Wall Street's significant figures. As Larry Fink, chief executive of BlackRock said asset managers must find the better way of diversifying investments for reducing risk.

Joseph Cotchett, a San Francisco attorney who interviewed imprisoned Bernard Madoff in a federal prison this week, reported that he wants the introduction of some amendments to the lawsuit so as to include the names of several funds managers who injected investor money into Madoff's $65 billion Ponzi scheme.

Top fund managers confessed the fact of their several mistakes in managing funds during current economic recession.

They had missed buying opportunities and have been late to sell certain funds by their own admission at Morningstar Inc.’s annual investment conference in Chicago city.