- Money Management Executive
Despite 1.6 million new accounts and more than $10 billion in new assets under management in 529 college savings plans last year, providers have been disappointed with the performance of the individual plans according to a recent report by Cerulli Associates of Boston.
May 5 - Money Management Executive
Junk bonds' strong rebound stimulates the junk bond fund sector, which brought in $1.1 billion in the week ended April 30, according to AMG Data Services. That marks the 10th week in a row of net inflows, Reuters reports. A declining default rate has helped junk bonds' rally since last October. Total inflows into the junk bond mutual fund sector this year has amounted to almost $14.7 billion.
May 5 - Money Management Executive
Socially responsible mutual fund group, the Ave Maria Mutual Funds announced it has launched two new funds. The company, which invests according to Roman Catholic beliefs, said it is now offering a bond fund and a growth-oriented stock portfolio. These will join the Ave Maria Catholic Values Fund, an equities fund that has assets of around $100 million and launched nearly two years ago.
May 5 -
Janus Capital Group Inc. has moved to expand its Asian distribution by signing an agreement to offer its funds through 30 Taiwan banks. The move comes as its assets under management fell again in the first quarter.
May 5 - Money Management Executive
Launching what it is calling a pre-emptive strike against arbitrage traders, Vanguard of Valley Forge, Pa., announced plans to charge these opportunists a 2% redemption fee on the sale of shares held less than two months on nine of its international equity funds.
May 5 -
Fear and loathing of lost wages and dramatically depressed stock prices have young investors losing sight of their retirement goals.
May 5 -
Delaware Investments of Philadelphia and Linsco/Private Ledger (LPL Financial) of San Diego and Boston have wrapped up the details of an agreement to partner for a brand new mutual fund wrap program that will launch in September with a $15,000 account minimum.
May 5 - Money Management Executive
Fidelity Investments has appointed Brad Kimler senior vice president in charge of leading its expanding health care consulting group.
May 5 -
Fidelity Investments has appointed William C. Carey president of Fidelity Institutional Retirement Services Co., the nation's largest 401(k) plan provider.
May 5 - Money Management Executive
The College Savings Foundation, an organization for building awareness about 529 college savings plans, has announced its board of directors.
May 5