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A new website launched Thursday that details mutual funds’ stock holdings. MFFAIS.com, which stands for Mutual Fund Facts About Individual Stocks, gleans the information from Securities and Exchange filings and posts them instantly.

Investors should be made aware of the fees they are paying in their 401(k)s, particularly since they are frequently hidden. That was the message of a Government Accountability Office report that Rep. George Miller (D-Calif.) released Thursday.

The new chief investment officer at Dreyfus said his mission is more about improving fund performance at the New York mutual fund company than parent Mellon Financial's desire to consolidate brands.

Keith Tucker, the former chief executive officer of Waddell & Reed who has been charged with evading $1.2 million in Kansas City taxes, testified that was never his primary residence, The Kansas City Star reports.

State Street Global Advisors has won exemptive relief from the Securities and Exchange Commission for its exchange-traded funds, permitting fund firms to invest higher amounts in the instruments.

BISYS Alternative Investment Services and RiskMetrics have formed a strategic alliance to offer risk reporting tools specifically designed for alternative investments in hedge funds.

While most parents and grandparents think of college savings 529 plans as fit for their offspring, some of them are now actively using the investment vehicles to save for adult education, The Wall Street Journal reports. And a large number of them are planning to use the education to plan for a second career.

While WisdomTree currently offers exchange-traded funds based on dividends, it is planning to offer new ETFs based on corporate earnings, The Wall Street Journal reports.

Prudential Financial has hired a Duke University professor as an independent consultant to decide how to repay $270 million to investors, the Newark Star-Ledger reports. That was the portion set aside for investors in the $600 million fine it was sacked with in August for not properly overseeing and preventing some of its brokers from allowing abusive mutual fund trading.

A former worker of Principal Financial Group has been charged with draining $167,000 from mutual fund accounts at the firm, the Des Moines Register reports.

Dreyfus, a unit of Mellon Financial, announced that Phil Maisano, the head of alternative investments at Mellon Asset Management, will take the additional role of Dreyfus' chief investment officer and its vice chairman.

Assets in exchange-traded funds rose 9.4% in October to $383.3 billion, up from $350.3 billion the month before, according to data from the Investment Company Institute.

Highbury Financial will acquire the mutual fund unit of ABN AMRO, reportedly for $38.6 million. The unit’s 19 mutual funds, with $5.5 billion in assets, will be renamed the Aston Funds.

John Kim, the head portfolio manager of KL Group, a collapsed hedge fund in West Palm Beach, Fla., was ordered arrested by U.S. District Judge Kenneth Ryskamp for defying an asset freeze on money intended to be returned to investors, the South Florida Sun-Sentinel reports. KL According to a lawsuit the Securities and Exchange Commission brought against Kim last year, he defrauded investors of more than $200 million.

The NASD and NYSE Group have agreed to merge their regulatory operations into a single self-regulatory organization that will oversee all U.S. securities broker/dealers. The name of the organization will be determined at a later date and will begin operating in the second quarter of next year.

Surpassing its investment advisor's expectations and a sure sign of Chinese investors’ increasing enthusiasm for the markets, a new fund from China Asset Management raised $1.8 billion in just two days, Reuters reports.

A poll of 86,000 certified financial analysts by the CFA Institute has found that Charles “Ed” Haldeman, chief executive officer of Putnam Investments, is one of three executives they believe to be the most influential in the investment management industry, Reuters reports.

As of Friday, Legg Mason Capital Management will offer retirement share classes on 11 of its flagship mutual funds that it, its ClearBridge Advisors unit, Western Asset Management and Batterymarch Financial Management run.

Mutual fund portfolio managers are turning over their holdings less frequently, The Wall Street Journal reports. The median turnover, now at 58%, according to Morningstar’s analysis of 3,900 funds, is at the lowest level in at least a decade. At its peak in 2000 and 2001, median turnover was 75%.

Although many analysts previously believed that Putnam Investments might be a tough sell for Marsh & McLennan, some analysts now believe it might fetch an attractive price, The Wall Street Journal reports.