Wellington Management, a mammoth Boston-based money manager with $598 billion AUM, has also been hit with an FBI request for documents a source tells us, in the wake of three FBI raids on hedge funds yesterday.
This is the first mutual fund company to be ensnared by the FBI insider trading investigation that is charging through Wall Street.
Wellington said on an internal conference call yesterday that the firm is conducting a review of records, though it said it didn’t engage in illegal trading, according to the person, who asked not to be named because the firm is private. In a call today, Wellington officials disclosed the document request, without specifying what kind of information investigators are seeking, the person said.
Wellington, which has offices in London, Singapore, Sydney, Hong Kong, Tokyo and Beijing, won’t respond to requests for comments yet.
Wellington’s CEO is Perry Traquina, a Harvard grad. He has been with the firm since 1980. He has also earned degrees from the London School of Economics and Brandeis University.Other partners in the firm include Frank D. Catrickes, Frank L. Teixeira, John C. Keogh (also a Senior VP). Edward Joseph Steinborn is a Senior Vice President; Robert J. Toner is a Vice President. The firm employs more than 1,800 people.
Wellington’s top holdings include: Exxon, Pfizer, Wells, Merck and Apple.
The firm’s primary services are devoted to pension and profit sharing plans, but it also manages accounts for investment companies, pooled investment vehicles, corporations, state or municipal government entities, endowments, foundations, health care, religious institutions and trusts.The firm “typically invests corporate bonds, mortgage-backed securities, emerging market securities, and municipal bonds with short-term and intermediate-term maturity.”
For its equity portfolio, according to Bloomberg Businessweek Wellington invests in growth and value stocks of large-cap, mid-cap, and small-cap companies. In fixed income, it deals with multi-currency, investment-grade, and sector specific portfolios.
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