Schwab Laudus Funds in Mess
Vanguard, Schwab Subadvisor Reveals 'Coding Error' in Risk Models
The quant manager AXA Rosenberg says error was discovered last summer, but not reported by senior investment officers in a timely way.
Barr Rosenberg, a founder of the Orinda, Calif., firm, is taking a 30-day leave of absence, and the director of the firm's research center, Thomas Mead, will resign within a year, according to the letter.