{"id":7654,"date":"2019-01-30T09:50:14","date_gmt":"2019-01-30T14:50:14","guid":{"rendered":"https:\/\/www.silverlaw.com\/blog\/?p=7654"},"modified":"2019-01-30T09:50:14","modified_gmt":"2019-01-30T14:50:14","slug":"transamericas-97m-refund","status":"publish","type":"post","link":"https:\/\/www.silverlaw.com\/blog\/transamericas-97m-refund\/","title":{"rendered":"Transamerica\u2019s $97M Refund"},"content":{"rendered":"

The SEC has ordered four entities of Transamerica to refund $97 million to investors after discovering that faulty investment models used for fund management didn\u2019t work as it was purported.<\/p>\n

\"TheAegon USA Investment Management, operating through Transamerica Asset Management, Transamerica Capital, Inc. and Transamerica Financial Advisors, discovered the model\u2019s inconsistencies, but didn\u2019t notify anyone when they stopped using it. This kept investors from understanding the risks and kept them from making more informed decisions about their investments.<\/p>\n

The quantitative investment models were developed by an inexperienced junior analyst who had no experience in portfolio management. Once the company discovered the errors, the models were quietly taken out of circulation. Investors put billions of dollars into mutual funds and other accounts that used these models, which were sold as \u201cmodel driven\u201d and \u201cmodel supported.\u201d However, there was no hard evidence that these models actually worked, and no disclosure of risk was ever offered.<\/p>\n

Continue reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

The SEC has ordered four entities of Transamerica to refund $97 million to investors after discovering that faulty investment models used for fund management didn\u2019t work as it was purported. Aegon USA Investment Management, operating through Transamerica Asset Management, Transamerica Capital, Inc. and Transamerica Financial Advisors, discovered the model\u2019s inconsistencies, but didn\u2019t notify anyone when […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[595,583],"tags":[1501,1502,1344,1500],"class_list":["post-7654","post","type-post","status-publish","format-standard","hentry","category-investment-fraud","category-sec-actions","tag-f-squared","tag-portfolio-management","tag-securities-fraud-attorney","tag-transamerica"],"yoast_head":"\nTransamerica\u2019s $97M Refund — Securities Arbitration Lawyers Blog — January 30, 2019<\/title>\n<meta name=\"description\" content=\"The SEC has ordered four entities of Transamerica to refund $97 million to investors after discovering that faulty investment models used for fund — 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