Portfolio

An obscure book about mutual funds has begun to arouse the ire of the industry.

With the oncoming wave of Baby Boomers about to strain Social Security, Medicare, long-term care and families, mutual fund fees are going to continue to be in the crosshairs of class-action litigants, 401(k) plan sponsors, retail investors, regulators, legislators and even the courts.

AUSTIN, Texas - Making sure your company's 403(b) retirement plan is in compliance by Jan. 1, 2009 can be a daunting task, especially if you haven't gotten started yet.

AUSTIN, Texas - New 403(b) regulations are coming, whether or not plan sponsors and vendors are ready for the changes.

In another sign of the difficulties facing the financial services industry, Camulos Capital has told its investors that if they keep nearly $2 billion with the $2.5 billion hedge fund for the next year, the fund will reduce its fee by 75 basis points to 1.25%, The Wall Street Journal reports. And if the fund makes money between Oct. 1 and the end of 2010, it will reduce its share of profits to 10%, rather than the standard 20%.

Bob Tuszynski has joined UMB Fund Services as senior vice president and director of distribution services. One of his key responsibilities is to market “Total Distribution,” which helps fund companies pinpoint their most profitable sales intermediaries through customer relationship management. UMB also offers other marketing and sales distribution support services.

Although Roth 401(k) features became effective Jan. 1, 2006, few employers immediately implemented them, since they were new and recordkeepers were still developing systems to accommodate the new feature.

The unified managed account (UMA) market’s rapid growth will not continue without greater standardization and automation, says a Dover Financial Research report issued Wednesday and commissioned by Depository Trust & Clearing Corp. (DTCC).

Evergreen Investments of Boston, Wachovia Corp.'s asset management arm, announced Sept. 4 that it has closed its family of fund of funds.

By increasing the number of alternative products and strategies it offers, Mellon Capital Management Corp. has generated inflows in the past three years, despite difficult market conditions.