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The National Association of Securities Dealers Regulation posted guidance on its website July 21 about mutual fund and annuity advertising and suitability screening for multi-class mutual funds.
July 31 - Money Management Executive
Liberty Funds Distributor of Boston, which has 1.8 million customers and $67 billion in assets under management, is trying a three-pronged, $1 million effort to promote its name among the investment advisors who sell its funds.
July 31 - Money Management Executive
AIM Management of Houston, Texas. Is not a low-profile, slow-growing mutual fund company any longer.
July 31 - Money Management Executive
Evergreen Funds of Charlotte, N.C. has changed the name of its Evergreen Strategic Growth Fund to Evergreen Large Company Growth Fund to more accurately reflect the fund's investment management focus on large-cap companies, according to Melissa Jakeman, a spokesperson for Evergreen Funds.
July 31 - Money Management Executive
USAA Investment Management Co. of San Antonio, Texas has opened a fund supermarket offering 5,000 funds from 160 fund families.
July 24 -
The New York Stock Exchange will begin listing exchange-traded funds in the fall, said Richard Grasso, CEO of the New York Stock Exchange. The majority of exchange-traded funds are currently listed on the American Stock Exchange.
July 24 - Money Management Executive
SSB Citi Asset Management, the asset management unit of Citigroup of New York, will soon break up its 17 CitiFunds. Several of the proposed changes were disclosed in multiple SEC filings SSB Citi made in mid-July.
July 24 - Money Management Executive
Driehaus Capital Management of Chicago, adviser to the five no-load Driehaus Mutual Funds, will impose a two percent redemption fee on each of its five funds for shares purchased after July 31 and redeemed within 60 days. The new redemption fee was disclosed in an SEC filing July 10.
July 24 -
The Fortune Group has licensed State Street Global Advisors of Boston to manage two exchange-traded funds based on the Fortune 500 and Fortune e-50 stock indexes. SSGA filed a registration statement with the SEC last week for both of the exchange-traded funds, the Fortune 500 Index Tracking Stock and the Fortune e-50 Index Tracking Stock, according to Fortune.
July 24 - Money Management Executive
The Investment Company Institute of Washington D.C. will hold its first overseas conference this fall in Asia, according to Michael Bannon, a conference registrar with the ICI.
July 24