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Citi has launched a free Fund Governance Portal for its regulatory administration services clients.
June 3 -
With yields on money market funds dropping to all-time lows and more fund companies absorbing fees to prevent breaking the buck, even then, performance is an issue for investors, The Wall Street Journal reports. As a result, bank savings accounts that yield 2% on average are attracting more money.
June 3 -
Six years after health savings accounts were introduced, only 59% of the population has heard of them, only half of these people actually understand them, and only 14% of the overall population own them, Guardian Life Insurance found in its Spotlight on Consumer-Driven Health Plans Survey.
June 3 -
Vanguard will be merging the $6.7 billion Vanguard Treasury Money Market Fund into the $21.8 billion Vanguard Admiral Treasury Money Market Fund in August, and it has already closed the Vanguard Federal Money Market Fund to new accounts and additional purchases.
June 3 -
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