Money Management Executive Latest News

Labaton Sucharow has filed a class-action lawsuit in the U.S. District Court for the Southern District of New York against ProShares, regarding one of its inverse leveraged exchange-traded funds.

Alternative assets under management fell 37.25% from a year earlier, to $2.496 trillion as of March 31, according to a survey.

Schwab Charitable, a donor-advised fund, has announced new investment choices. Investors will be able to apportion funds to pools run by asset managers including American Century, Janus, Manning & Napier, Parnassus, PIMCO and Schwab.

The RBC Consumer Attitudes and Spending Household (CASH) Index rose by a sharp 15.1 points in August to 37.5, reversing a slide of the previous two months.

Many mutual funds geared toward a special type of socially responsible investing, green investing, are outpacing the Dow and the S&P 500, BusinessWeek reports. And given the environmentally conscious and alternative energy initiatives of the new president, valued at more than $80 billion, they could continue to outpace the general markets.

Long-term mutual funds took in $12.53 billion for the week ended July 29, the 20th straight week of inflows, according to data from the Investment Company Institute. Net purchases to equity and bond funds over the past five months are nearly $200 billion.

De Beers is considering offering a diamond exchange-traded fund to boost interest in the gems, since prices and production are both down, IndexUniverse.com reports.

Individual investors are regaining confidence in the stock market and increasingly taking investing into their own hands, a survey of 450 retail investors by online broker Zecco found.

Mutual, pension and hedge fund managers have been investing large quantities of cash in the market in recent weeks, and while the pace of their buying has been slowing, it appears to indicate their faith in a continued rally, Reuters reports.

Five years in the making, it appears that Strong Funds investors who were harmed by mutual fund market timing may soon receive their share of the $154 million settlement.