Portfolio

His firm may sponsor only three small exchange-traded funds right now, but if Sean O'Hara, president of RevenueShares Investor Services of Paoli, Pa., has his druthers, there'll be revenue-weighted ETFs in every investor's portfolio someday. With that in mind, the firm will be offering 10 additional sector ETFs within weeks, with more to come later this year.

Welcome to Money Management Executive's 6th Annual Fund Operations Awards.

This Tuesday, June 3, the Senate Banking Committee will consider three nominations to the Securities and Exchange Commission, possibly paving the way for a number of mutual fund measures to be decided upon.

Many mutual fund industry analysts are skeptical that the Securities and Exchange Commission will take final action on any of its outstanding proposals this year, but if it does, the summary prospectus and XBRL tagging are likely to top the list, with a proposal on changes to 12b-1 fees to follow in 2009.

While not exactly a national victory for the mutual fund industry, a recent court ruling regarding "excessive fees" could set a strong precedent for further disputes.

In the midst of market turbulence, many investors are blindly rushing to gold without any concern for the long-term consequences of doing so.

Money market mutual fund assets fell $4.28 billion for the week ending May 28, to $3.505 trillion, according to the Investment Company Institute. Assets of retail money market mutual funds fell by $3.99 billion to $1.223 trillion.

NEW YORK—The European Union’s UCITS, or “Undertakings for Collective Investment in Transferable Securities,” have been gaining tremendous traction throughout the EU, and even Latin America and Asia. Middle Eastern countries are even beginning to warm up to the instruments, as they are tightly regulated by their host countries and designed to protect the end investor.

Harry Lange, a manager of Fidelity Investment’s popular $40.5 billion Magellan fund, believes that once the effects of the central bank’s rate cuts and the government’s economic stimulus packages kick in, U.S. stocks could be near an “important bottom.”

Investors seem to be moving more money to U.S.-based stock mutual funds.