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TD Ameritrade has reorganized its 13,000 mutual fund offerings into four different investment objective categories and turned to independent mutual fund research company Morningstar to rate the “Premier List” of funds.
February 23 - Money Management Executive
The asset management industry should expect a revival in mergers and acquisitions in 2010 thanks to an anticipated rebound in deal activity, a new Jefferies study claims.
February 23 - Money Management Executive
Invesco Powershares has launched an exchange-traded fund (ETF), the CEF Income Composite Portfolio (PCEF), which tracks yield-oriented, closed-end funds, based on the S-Network Composite Closed-End Fund Index (CEFX). The fund, which will issue monthly distributions, is expected to go ex-dividend on March 15.
February 23 - Money Management Executive
NASDAQ OMX has launched Dynamic Annual Report, an enhanced corporate solutions report that allows companies to issue shareholder communications with social media, videos and Adobe Flash animation embedded. The reports can also include a scrolling RSS Feed to display the company’s most recent news, along with brochures or other collateral material.
February 23 -
Because neither Congress nor the Securities and Exchange Commission require hedge funds to register or reveal key information, Connecticut General Assembly Sen. Robert Duff (D-Norwalk) vows to reintroduce as many as three bills that would require them to reveal conflicts of interest, be licensed and disclose financial information to prospective investors.
February 23 -
John Hancock Funds has launched the John Hancock Strategic Income Opportunities Fund, an unconstrained version of the John Hancock Strategic Income Fund.
February 22 - Money Management Executive
First Eagle Investment Management has promoted CEO John Arnhold to chairman and chief investment officer and Bridget A. Macaskill, the former CEO of OppenheimerFunds for 10 years, from president and chief operating officer to president and chief executive officer.
February 22 - Money Management Executive
As carriers continue to raise variable annuity fees due to the increased cost of guaranteeing income, sales continue to weaken; in the quarter ended Dec. 31, sales dropped 3.6% to $32.6 billion, compared to $33.8 billion in the year-earlier period, according to LIMRA International. In the third quarter, VA sales fell 16%.
February 22 -
Investors in the mutual funds of Capital Research & Management appear to have taken notice of the funds being beaten by more than half of their peers in 2008 and 2009, as redemptions are coming in at the fastest pace the company has seen in its 79-year history. Last year alone, the company was hit with $25.5 billion in redemptions, and in the previous year, $16 billion.
February 22 - Money Management Executive
Evermore Global Advisors has launched the Evermore Global Value and Evermore European Value funds, both of which will be managed by David Marcus and Jae Young, formerly with Franklin Mutual Advisors.
February 22