Portfolio

Estee lauder’s chief executive officer, Fabrizio Freda, is giving BlackRock, Inc.’s Board of Directors a makeover. Well, sort of.

It seems that the folks at Spectrum Advisory Services Inc., manager of the Marathon Value Portfolio mutual fund (NASDAQ: MVPFX) were victims of malicious hackers who hacked into the third-party host server of the Fund’s website on June 30.

On July 27, 2012, Investors pumped in $6.3 billion into mutual funds and exchange-traded funds for the week ended July 25, according to data from Lipper.

Target-date funds pulled in $13.9 billion in the second quarter despite the nearly 3% loss on average, according to Morningstar.

The tide of investor demand stays high for municipal bond mutual funds. A strong week of record-low muni bond yields on the intermediate and long ends of the curve marked the week ended July 25.investor-demands-keeps-muni-fund-flows-high

Treasury Secretary Tim Geithner said Thursday a stymied plan by U.S. regulators to reform money market mutual funds must be allowed to move forward.

The Dow Jones Industrial Average stormed up 211.88 points Thursday to end at 12,887.93 while the tech-laden Nasdaq and S&P 500 gained 39 points and 22 points, respectively.

On July 26, 2012, Target-date funds pulled in $13.9 billion in the second quarter despite the nearly 3% loss on average, according to Morningstar.

Los Angeles-based del Rey Global Investors, LLC, has expanded its sales and marketing groups with the addition of Dean C. Phillips as vice president, National Sales and Marketing, and Dennis McCarthy, vice president, Institutional Sales.

On July 26, 2012, BlackRock Inc., Fidelity Investments and Vanguard Group Inc., firms that collectively manage more than $7 trillion, are gauging how their clients have been hurt by Libor manipulation and whether to take legal action as at least a dozen banks are being investigated for rate-rigging.