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Investors unease with the stock market, despite its 40% rise since early March, does not augur well for the mutual fund industry, the Chicago Tribune reports; assets in equity funds remain at half the level they were before the crisis began in late 2007.
June 3 -
The Securities and Exchange Commission is creating the position of chief operating officer and looking to expand its ranks by 1,000 to better combat fraud.
June 2 -
The Securities and Exchange Commission began repaying more than 590,000 AIM investors $78 million in a fair funds distribution for the market timing that hurt their returns.
June 2 -
Pershing, a subsidiary of The Bank of New York Mellon, has added funds from Neuberger Berman, The Hartford and T. Rowe Price to its no-transaction-fee mutual fund platform, FundVest.
June 2 -
As it debuted its first exchange-traded fund on the NYSE Arca Tuesday, PIMCO announced it plans to launch six additional fixed income ETFs.
June 2 -
Hedge fund redemptions will slow in 2009 and be aided greatly by $50 billion in inflows to end the year with around $1.3 trillion in total assets in the U.S., Barclays Capital said in a report issued Tuesday based on interviews with 300 investors and 100 hedge funds.
June 2 -
Although credit markets are improving, money market funds are struggling to deliver positive returns, and as a result, since late last year, nearly all money funds, perhaps as many as 90%, have been waiving fees to avoid breaking the buck, The Wall Street Journal reports.
June 2 -
Credit Suisse has formed an investment strategies and solutions group, to be led by David Russ, the former chief investment officer of Dartmouth Colleges office of investments. The division will collaborate with the institutional distribution team.
June 2 -
Fidelity Investments promoted Abigail Johnson to chairman of the board of directors overseeing fixed income and asset allocation funds, yet another indication of the firms intention to eventually name the younger Johnson successor to her father, Edward C. Ned Johnson III, 78, as head of the company.
June 2 -
Invesco, manager of the Aim and PowerShares families of mutual funds, has launched the Aim Balanced-Risk Allocation Fund, an international balanced fund. Via derivatives, it will invest 60% of its assets in fixed income, 20% in equities and 20% in commodities.
June 2