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Despite hedge funds that have received returns on investments in commodities and emerging-market stocks, the hedge fund industry, as a whole, is set to turn in their worst monthly performance since July 2002.
August 4 -
The United Services Automobile Association (USAA) has created five new target retirement funds to simplify investing for retirement and to provide investors greater value by offering lower costs that are 47% below the latest similar Lipper category expense ratio average.
August 4 -
The board of directors at The Vanguard Group Inc. has elected F. William McNabb III as its chief executive officer.
August 4 -
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The Securities and Exchange Commission’s Office of Compliance Inspections and Examination released a new ComplianceAlert recognizing common flaws and weaknesses among mutual fund companies. The SEC found deficiencies in soft-dollar practices, mutual fund proxies, personal trading by investment advisory employees, valuation and liquidity issues for high-yield municipal bond funds, broker/dealers’ valuation of collateral management processes and a variety of other issues.
August 4 -
The Senate doesnt like either campaign, each of which ran in the Washington area. TIAA-CREF has since pulled its ads, but Fidelity, claiming all of its communications go through legal review, is still running them.
August 4 -
The Securities and Exchange Commission issued guidance last week for fund boards of directors in assessing their firms soft-dollar practices. The SEC said it was issuing the guidance a full two years after the limitations it put on soft dollars in 2006, restricting it only to research, due to rapidly evolving market and trading practices. True enough, there are wide discrepancies among brokerages today, due to rapidly evolving markets, trading practices and electronic crossing networks. Fund companies have until Oct. 1 to comment on the SECs guidance.
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America's new mass affluent blend so effortlessly into society that it's often impossible to tell them apart from a traditional middle class family one day, or from an upper class family the next.
August 4 -
WASHINGTON The Investment Company Institute last Monday urged the Securities and Exchange Commission to expand its proposed credit rating agency rules on structured products to include municipal securities, and to increase the secondary market disclosure requirements for the municipal market.
August 4