Portfolio

M.D. Sass is looking to build out its fledgling mutual fund family with the launch of the M.D. Sass Equity Income Plus Fund (MDEIX, MDEPX), which bets on a diversified portfolio of dividend paying common stocks.

Blackstone Group, the world’s biggest manager of alternative assets, is starting a mutual fund that will invest in hedge funds, part of an industrywide push to attract assets from individual investors.

Citi has been appointed by Mirae Asset Global Investments to provide fund administration, custody and index receipt services for a new exchange-traded fund platform in the U.S. under the Horizons brand.

Wells Fargo & Co., the lender that gets just 3 percent of its revenue from non-U.S. markets, plans to build out its real estate investment-banking business as part of a push into the U.K.

USAA Investments has added two new mutual funds to its lineup.

Pimco’s Bill Gross added to holdings of Treasuries in his flagship fund in June while betting incorrectly on gains in U.S. inflation- indexed securities during the first half of the year.

Bond funds netted redemptions of $59 billion (excluding exchange-traded funds) last month, according to Strategic Insight.

Exchange-traded funds that made bets on the gold sector were punished in the first half of the year with poor returns and redemptions amid a two-year low in price for the precious metal.

Exchange-traded fund risks and the use of ETFs in portfolio construction were ranked as the top two topics that advisors understood the best, according to new findings from Cerulli Associates.

To put it bluntly, James Gandolfini’s estate is a mess. His faulty estate planning provides a good lesson of the types of complications that can arise for clients who rely heavily on a will.