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Because the credit markets and asset values are at the very heart of the economic crisis, these areas will have to strengthen before the economy improves, according to Fidelity Investments, Bloomberg reports. As such, financial services will have to be the first area to improve, and it will lead the way out of the recession.
March 23 -
FINRA has fined 25 broker/dealers for failure to complete self-assessments related to providing mutual fund breakpoints between 2001 and 2002.
March 23 -
Industry watchers are stunned that Vanguard, a champion of low fees, has caved in to the realities of lower assets by raising fees on 31 of its 110 funds, albeit a scant average of 0.05%. But the truth is, poor market performance has ravaged assets at many fund shops, and grappling with lower assets, they are looking for ways to control costs, MarketWatch reports.
March 23 -
PALM DESERT, Calif. - Andrew Donohue, director of the Securities and Exchange Commission's Division of Investment Management, said Monday that he doesn't think the SEC will push for changes to rule 12b-1 govering mutual fund fees this year.
March 23 -
Fidelity Investments has hired Christopher Sullivan to serve as head of its bond group, in charge of $170 billion of assets under management.
March 23 -
Even as it continues to lay off 3,000, Fidelity Investments is looking for talented analysts and investment professionals as it seeks to restructure and strengthen its capabilities in the midst of the economic downturn, The Boston Globe reports.
March 23 -
Certainly, the pace of mergers and acquisitions has slowed in the face of the weak economy, but large financial advisory firms are finding great bargains on small firms, which have become more interested in selling their company, Dow Jones reports.
March 23 -
With mutual fund investors burned by negative returns of 30% to 50% over the past year, they are unlikely to remain confident about their investments, Celent predicts. As a result, the universe of 7,000 funds could shrink by as much as 70% over the next five years, leaving only 2,000 funds in existence.
March 23 -
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