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These days the concept of sustainability is a hot ticket into the world of socially responsible investing. Just last week, a trio of investment management firms announced plans to incorporate the components of sustainability investing into their product offerings.
March 17 -
China's securities regulator has approved the creation of three new mutual funds in an effort to bolster the country's sagging stock markets, the Xinhua news agency reports.New Century was approved for a stock fund and Lion and Changsheng were approved for funds that can have a stock/bond mixture.China's benchmark index Shanghai composite closed at a seven-month low of 3,962.673 on Friday.
March 14 -
The Investment Company Institute said total money market mutual fund assets rose for the week ending March 12 by $6.46 billion to $3.454 trillion.Retail money market mutual fund assets rose by $5.55 billion to $1.246 trillion, taxable money market fund assets in the retail category rose by $3.17 billion to $951.36 billion, and tax-exempt fund assets rose by $2.37 billion to $294.66 billion.Institutional money market fund assets rose by $913 million to $2.208 trillion, taxable money market fund assets fell by $1.98 billion to $2.027 trillion, and tax-exempt fund assets rose by $2.89 billion to $180.99 billion.Money Fund Report, a service of iMoneyNet Inc., said the seven-day average yield on money market mutual funds fell from 2.78% on March 4 to 2.73% on March 11. The 30-day average yield fell from 2.96% to 2.88% during the same period.The seven-day compounded yield fell from 2.82% to 2.77%, while the 30-day compounded yield fell from 3.01% to 2.92%. The average maturity of portfolios held by money funds was 42 days, up from 41 days, Money Fund said.
March 14 -
The majority of economists surveyed by The Wall Street Journal say the U.S. has finally slid into a recession.
March 13 -
The mutual fund industry in Mexico is poised for growth in the coming years as average household incomes increase and Mexican investors change their savings habits, according to Business News Americas.
March 13 -
Chinese mutual funds posted moderate gains in February after declining more than seven percent in January, according to a recent report.
March 12 -
New York Governor Eliot Spitzer, the former New York State attorney general who was instrumental in waging war against Wall Street corruption and the mutual fund industrys after-hours trading and market-timing activities, publicly apologized Monday afternoon to his family and the public for unspecified behavior, but stopped short of resigning his position as governor.
March 10 -
Global alternative asset manager Blackstone Group reported a 90% drop in profit during the fourth quarter of 2007 compared to the same period in 2006 and warned that conditions will remain difficult for the rest of the year or longer.
March 10 -
Innovation is the name of the game for Keith Geary, CEO, president and chairman of Capital West Securities, a small, 13-year-old Oklahoma City-based broker/dealer. The firm recently registered its new investment advisory arm OOK Advisors and last week filed to offer the Capital West Oklahoma Index Fund, the first ETF to invest exclusively in publicly-traded companies headquartered in Oklahoma. The ETF is expected to begin trading on the American Stock Exchange in April.
March 10 -