Portfolio

By overturning a lower court's dismissal of a case against former Columbia Funds executives James Tambone and Robert Hussey, the U.S. Court of Appeals for the First Circuit is permitting the Securities and Exchange Commission to proceed with its market-timing lawsuit against the two men.

David R. Holst, 43, a mortgage broker in Tucson, Ariz., pleaded guilty to gambling $350,000 from mutual fund investor clients. He accepted the charges of securities fraud and filing a false income tax return. Holst admitted to setting up a financial advisory business that pretended to invest clients' money in mutual funds. Instead, he took the clients' money, lost it gambling at a casino, and subsequently doctored statements to make it look like he had created mutual fund accounts for the clients. Holst, who will be sentenced in federal court on Feb. 12, faces up to 25 years in prison and more than $1 million in fines.

Ready or not, the deadline to update 403(b) plans is here.

Mutual fund companies ask investors to look at past performance and judge their offerings based on their performance relative to a benchmark.

Moody's Affirms Fidelity A1 Senior Rating

American Century Investments has been hammered by the market downturn but is positioning itself for brisk growth at home and abroad, according to its top executive.

Financial industry analysts are anticipating a wave of new regulations to come out of this financial crisis, but with any luck, mutual funds will escape a direct hit.

Clients withdrew cash from municipal bond mutual funds at a clip not seen since October.

Total assets of money market mutual funds rose $34.48 billion during the week ending Dec. 10, to settle at $3.777 trillion, according to the Investment Company Institute.

Investment managers will now be able to automate, centralize and standardize purchases, exchanges and redemptions directly though the Depository Trust & Clearing Corporation’s Fund/SERV and other mutual fund services, instead of having to go through a third party.