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Fidelity Investments has expanded independent advisors’ access to third-party providers within its WealthCentral custodial platform by integrating a portfolio management solution from Black Diamond Performance Reporting.

The E*Trade fund supermarket now includes 18 funds from USAA Management, 12 of them fixed income. USAA manages $43 billion in mutual funds and $6 billion in managed accounts.

AQR Capital Management has selected J.P. Morgan Worldwide Securities Services to provide a full suite of fund administration, prime custody and related securities services for AQR’s mutual funds with more than $2 billion in assets.

Brown Brothers Harriman, a Boston-based global custodian, on Tuesday said that it expanded its relationship with OppenheimerFunds to provide middle and back office services through a new “lift-out” agreement.

Fifty-seven percent of money managers view the market as undervalued, Russell Investments found in its latest survey, of 170 senior-level managers. This is the second-highest percentage in survey history. Only 7% of managers believe markets are overvalued.

Brown Brothers Harriman Trust, based in New York City, launched the BBH Core Select mutual fund in 1998 as a small trailer fund to help younger members of its wealthy families manage smaller sums.

Morningstar may remove leveraged and inverse exchange-traded funds from its star rating system and track them separately, Scott Burns, the firm’s ETF director, told attendees at Morningstar’s ETF conference last week.

A fund devoted to investing in Build America Bonds would have a tough time avoiding debt backed by the states of California and Illinois altogether. Eaton Vance is doing its best.

The exit of capital from mutual funds in the United States has slowed down, but showed signs of picking up steam again this month.

National wirehouses are slowly moving out of cash and fixed income, which currently comprise nearly a third of their portfolios—3.9% and 25.8%, respectively—according to “Distribution Dynamics: Investment Selection,” a report from RepThinkTank, a consulting alliance for the financial services industry made up of FUSE Research Network, Momentum Partners, The Oechsli Institute and Registered Rep magazine.

The Commodity Futures Trading Commission will vote Oct. 1 on new rules for derivatives clearinghouses and a reporting deadline for outstanding swaps trades, CFTC Chairman Gary Gensler told the U.S. Chamber of Commerce Tuesday. The new rules would also apply to exchanges and swap trading platforms.

New York Life is introducing an employee participant program that aims to personalize and simplify the retirement planning process.

PIMCO Tuesday announced two new exchange-traded funds, the PIMCO Build America Bond Strategy Fund and the PIMCO Investment Grade Corporate Bond Index Fund.

As a result of debt issues and fiscal deficits, BlackRock said Tuesday that it expects to economic recovery to be "meaningfully slower" in the second half of this year.

DWS Investments Tuesday unveiled DWS Rollover Central, an online resource center containing tools and education to guide investors on rolling over an IRA. It also compares traditional and Roth IRAs and simplifies the process of opening an IRA and selecting an adviser.

Eaton Vance Management Tuesday announced the launch of the Eaton Vance Global Macro Absolute Return Advantage Fund.

Eze Castle Integration said it has created a new subsidiary called Ledgex Systems to pull together performance data for managers of funds of hedge funds, pension plans and private equity funds.

NEW YORK-Many investment firms dealing in complex asset-backed securities did not have sufficient computing capacity to figure out the risks they were taking, as the global financial crisis unfolded, said the managing director and chief technology architect of Bank of America Merrill Lynch Monday.

The Nasdaq OMX Group will launch a second U.S. equities exchange on Oct. 8, the first in the United States that will give priority to the size of an order, at a given price, the exchange operator said Monday.

Fewer hedge funds closed their doors in the second quarter, but there were also fewer hedge fund launches, as investors continued to shun startups and smaller firms in favor of large, established players.