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AQR Capital Management has launched three momentum indexes and mutual funds, the AQR Momentum Index, AQR Small Cap Momentum Index and AQR International Momentum Index. The three no-load mutual funds are the AQR Momentum Fund, AQR Small Cap Momentum Fund and AQR International Momentum Fund. Each requires a minimum investment of $5,000.
July 14 -
Financial advisers have sworn by asset allocation and diversification for years, but in the face of the market’s demise in 2008, some are rethinking that age-old wisdom, The Wall Street Journal reports.
July 14 -
Investors showed strong confidence in long-term mutual funds in the second quarter, boosting sales in bond and stock funds by $136 billion, Strategic Insight reported. It was the strongest quarter for sales since the first quarter of 2007, when long-term mutual funds drew nearly $150 billion.
July 14 -
New enhancements to Envestnet’s unified managed account (UMA), such as product expansion, systematic income withdrawals and adviser-created asset allocations, will allow advisers to customize client accounts ranging from $150,000 to multi-millions on a single platform.
July 14 -
Mutual funds and other institutional money managers are using seven percent less independent research than last year, Greenwich Associates found. Providers of independent research reported that institutional managers are paying 11% of commissions this year, down from 18% in 2008.
July 13 -
Tocqueville Asset Management will acquire Delafield Asset Management, a provider of mutual funds, separately managed accounts and limited partnerships. Terms of the deal were not disclosed.
July 13 -
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It could take as long as five years for asset managers around the world to recoup the $10 trillion they lost in 2008, according to a report by Cerulli, which calls the global meltdown "of near-biblical proportions."
July 13 -
Fidelity Investments aims to double its assets under administration in the next five years, and stepped-up sales through banks will be a major contributor, company executives said.
July 13 -