Publications
Publications
- April 2011 (Revised June 2014)
- HBS Case Collection
Securities Lending After the Financial Crisis
By: Robert C. Pozen and Gayle Hameister
Abstract
In April 2009, Wendy Jefferson had just returned to her office following a whirlwind day of meetings with her newest client, Star Advisor. Jefferson, a financial services consultant, was eager to dig into the information provided to her and her team about the Star mutual funds and the income the funds earned from securities lending. Securities lending involved temporarily transferring securities from mutual funds managed by Star Advisor to short sellers and other investors. Income from these loans had been a small but secure component of Star mutual fund returns for decades.
Keywords
Business Earnings; Debt Securities; Financing and Loans; Investment Funds; Governing Rules, Regulations, and Reforms; Information
Citation
Pozen, Robert C., and Gayle Hameister. "Securities Lending After the Financial Crisis." Harvard Business School Case 311-130, April 2011. (Revised June 2014.)