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The Expect Miracles Foundation, formerly Mutual Funds Against Cancer, raised $1 million at its annual East Coast Classic at Pinehills Gold Club and Indian Pond Country Club.

ING’s U.S. retirement division is attempting to pursue the small- and mid-sized defined contribution business through the banking channel and with a convenience payroll strategy.

Pershing, a BNY Mellon company, has added funds from Altegris, Invesco and TIAA-CREF to FundVest, its no-load mutual fund platform for broker-dealer clients that now features 4,300 funds from 230 fund families.

There is a great divide in the economic outlook of the 18% of the population earning $100,000 or more and the 50% earning $50,000 or less, the Consumer Reports Sentiment Index shows.

FINRA, the Securities and Exchange Commission and five state regulators from Alabama, Kentucky, Mississippi, South Carolina and Tennessee announced Thursday that they have settled with Morgan Keegan over improper bond fund sales. As a result, Morgan Keegan will repay $200 million to investors in seven affiliated bond funds, including the Regions Morgan Keegan Select Intermediate Bond Fund.

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J.P. Morgan Securities LLC will pay $153.6 million to settle charges that it misled investors in a complex mortgage securities transaction just as the housing market was starting to plummet, the Securities and Exchange Commission said.

Despite a skittish U.S. economy, most commercial real estate investors remain upbeat and cautiously optimistic about the industry’s future, according to the PwC Real Estate Investor Survey. In fact, the majority continues to invest in all sectors of commercial real estate, as they continue to see signs that the industry’s fundamentals are stabilizing.

Fidelity Investments on Wednesday announced the launch of four Fidelity Defined Maturity Funds, a series of four actively managed municipal income funds. The funds seek to bridge the gap between individual bonds and bond funds and, therefore, fill a gap in municipal bond investing, Fidelity said.

Global long-term fund flows through April reached $270 billion, according to Strategic Insight’s “Global Mutual Fund Review April 2011, New & Top Selling Funds, Leading Managers.”