Portfolio

Memphis, TN-based SouthernSun Asset Management is closing its SouthernSun Small Cap Fund (SSSFX) to new investors on May 17, according to a regulatory filing.

Mutual fund investors rolled some $2.0 billion into equity mutual funds for the week ended April 10, according to Jeff Tjornehoj, Head of Americas Research at Lipper, who said that: “Lest anyone get too excited about the inflows, they were the lightest weekly net sales of this year.”

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Money market assets fell $8.9 billion to $2.6 trillion for the week ended April 10, according to Investment Company Institute data.

Northern Trust is touting the rapid growth of its’ defined contribution assets.

Investors poured $16.9 billion into exchange-traded funds in March, bringing the first-quarter total to $53.1 billion, according to data from Morningstar.

Kris Jenner, the former top stock picker at T. Rowe Price Group, has raised more than $100 million for a hedge fund to invest in health-care and biotechnology stocks, Bloomberg reports, citing a person with knowledge of his plans.

Inflows of $57.1 million entered the tax-exempt money market industry in the week ended April 8 and total net assets inched up to $273.12 billion, according to The Money Fund Report, a service of iMoneyNet.com.

Great rotation or not, more money hemorrhaged from municipal bond mutual funds as outflows occurred for the sixth straight week, at $631 million.

Several estate planning products were built to address concerns about paying federal estate tax. However, the tax law passed earlier this year may have made these products moot. Advisors need to react before angry clients start calling.