Portfolio

Most investment fund clients have no idea how much their investments are costing them in terms of management fees, commissions and other hidden costs, according to money manager Greg Phelps of Redrock Wealth Management.

FINRA slammed Citi International Financial Services with a $600,000 fine for charging excessive markups and markdowns on corporate and agency bond transactions.

Mutual fund research companies Access Data and Strategic Insight have entered into a partnership pooling together their resources for financial data gathering.

State Street Corporation today unveiled the State Street Fund InsightsSM Valuation Toolkit to provide timely industry insights for fund managers and directors and help them better manage data.

Securities and Exchange Commissioner Elisse Walter told fund executives gathered at the ICI Mutual Funds conference to stop discussing the reform of money market mutual funds through “a public volley of slogans.’’

Commissioner Elisse Walter told fund industry executives Monday to re-engage with the Securities and Exchange Commission on a new round of reform of money market mutual funds – and end its “unconstructive disengagement’’ on the subject.

The SEC might just kill the patient it is trying to cure, according to Karrie McMillan, general counsel of the Investment Company Institute.

Mutual funds may soon report not just to the Securities and Exchange Commission but the Commodity Futures Trading Commission as well, in some circumstances.

The liquidity of mutual funds and exchange-traded funds, as well as their operating costs, could be collateral damage, depending on how the Volcker Rule precluding proprietary trading by banks gets implemented, Investment Company Institute general counsel Karrie McMillan will argue Monday at the 2012 ICI Mutual Funds and Investment Management Conference in Phoenix.

State Street Global Advisors began trading the SPDR Barclays Capital Short Term High Yield Bond ETF on the NYSE Arca. The new SPDR ETF offers investors access to high yield corporate bonds with short durations. Its annual expense ratio is 40 basis points.