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Two former Morgan Stanley Smith Barney brokers have been ordered to pay about $4.28 million plus interest to their former employer for the breach of promissory notes and other agreements.
June 10 -
Lord Abbett and Wilshire Associates have partnered to launch Pro Active Income Solutions, an actively managed approach designed to deliver income for the independent advisory market. The solution combines Wilshire’s dynamic asset-allocation capabilities and Lord Abbett’s comprehensive suite of fixed income mutual funds.
June 9 -
Global X Funds has launched the Global X SuperDividend ETF, an exchange-traded fund that offers exposure to 100 global companies that rank among the highest dividend-yielding equity securities in the world.
June 9 - Money Management Executive
Asset management firms are not fully leveraging the capabilities of their internal wholesalers, according to a new report from Kasina, “Excellence in Distribution: Internal Wholesaling 2011.”
June 9 - Money Management Executive
Principal Funds has launched a website for financial professionals, preferredsecurities.com, that demonstrates how preferred securities can offer the potential for increased income, diversification and reduced volatility.
June 9 -
AXA Private Equity has signed an agreement to purchase a $1.7 billion portfolio of limited partnership interests in private equity buyout funds and direct stakes in companies from Citigroup.
June 9 - Money Management Executive
Sentinel Investments has outsourced its transfer agency fund servicing to Boston Financial in order to focus on its core competencies. Boston Financial will support Sentinel’s transaction processing, control, broker servicing and quality control, but Sentinel will retain primary call center responsibility.
June 9 - Money Management Executive
Gemini Fund Services has partnered with Charles River and TKS Solutions to expand its compliance and accounting capabilities.
June 9 - Money Management Executive
Long-term mutual funds reaped $2.83 billion in inflows in the week ended June 1, the Investment Company Institute said.
June 8 -
TIAA-CREF has launched the TIAA-CREF Lifecycle 2055 Fund, a target-date fund aimed at those who are 18 to 22 years of age and destined to leave the workforce in or around 2055.
June 8