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Many community banking companies have wealth management units, but lately more small and midsize wealth managers have been getting into the banking business.
March 10 -
The Securities and Exchange Commission's recent proposals aimed at easing the burdens of providers bringing new exchange-traded funds to market should make new ETF launches an easier proposition while fostering even more product creativity, said investment management sources.
March 10 -
A proposal by the Securities and Exchange Commission to shorten mutual fund disclosure statements is meeting widespread support, and a new rule could take effect by 2009, if not sooner.
March 10 -
Denver-based Transamerica IDEX Mutual Funds group has shortened its name to Transamerica Funds, as it now resides within the larger Transamerica Asset Management Group, under insurance company parent Aegon. Plans are underway to identify and potentially merge redundant or overlapping funds, expand distribution efforts, craft retirement income-based solutions, strengthen the Transamerica brand and build the firm into a future top-tier investment group.
March 10 -
TrimTabs Investment Research said the U.S. economy lost 78,000 jobs in February, based on daily income tax deposits to the Treasury from salaried taxpayers. This number is higher than estimates from the Bureau of Labor Statistics, which reported 63,000 job losses in the same period.
March 7 -
Canadian investors purchased between $5.9 billion and $6.5 billion in mutual funds during the month of February, a significant jump from January sales, according to the Investment Funds Institute of Canada.
March 7 -
Van Kampen Retirement Strategy Trust has filed for 10 new target retirement date funds with the Securities and Exchange Commission.
March 7 -
The British government is considering an overhaul of their tax code for mutual funds that could put the responsibility for declaring income from funds directly on investors, according to foreign news reports.
March 7 -
Integrity Mutual Funds Inc. announced that Bradley Wells will serve as interim president and CEO, following the resignation of Mark Anderson.
March 7