Special Program Root Tag

U.S. Global Investors is planning a new fund that will invest in India and the neighboring region, joining only two open-end funds that currently have such a specialty, The Wall Street Journal reports. Charlemagne Capital, a U.K. investment manager that specializes in emerging markets, will sub-advise the fund.

American Funds holds a 12.4% stake in Heinz, more than twice the 5.5% stake of dissident, billionaire shareholder Nelson Peltz of Trian Partners. And that means that American Funds could hold the key to whether Peltz, a self-proclaimed "operational shareholder activist," gets the three seats on the Heinz board he is seeking.

Canadian fund companies took umbrage recently when researchers issued a report saying they charge the highest fees in the world--and now they plan to do something about it, The Toronto Star reports.

New and innovative technology is being demanded by hedge funds and investment in IT is expected to reach $3.3 billion by 2009, according to a Datamonitor report.

MFS Investment Management, a unit of Sun Life Financial, might undergo some changes in the future--one of them being a potential sale. The stock price of the Canadian insurance giant might be an indication of what's in store, according to Boston Globe columnist Steven Syre.

If the Federal Reserve and other policy makers can pull off a "soft landing" similar to the one that occurred following the big run-up in stocks in 1985-1986 and again in 1995-1996, investors will be smiling.

With the historically rocky stock market months of September and October nearing, investors will likely be looking into exchange-traded-fund options to protect investments, Investor's Business Daily reports. As ETFs continue to gain in popularity, more options have been written on the funds.

Fidelity Investments suffered the greatest amount in outflows of all mutual fund companies in July, losing $2.24 billion, according to data from Financial Research Corp., The Wall Street Journal reports. It was the only one of the top 10 fund companies to experience outflows. The outflows come on the heels of $4.6 billion in outflows in June and $1.2 billion in May.

The Securities and Exchange Commission has sued KHF Advisor investment firm founder Knox Fuqua for allegedly embezzling money from his clients to pay for personal and business items. The SEC seeks permanent injunctions and an order directing that Fuqua get rid of all the ill-gotten gains and pay civil penalties.

The NASD fined American Funds Distributors $5 million Wednesday for violating the NASD anti-reciprocal rule that precludes investment companies from directing trades to brokerage firms in exchange for preferential sales treatment for their funds.

With students returning to school and media interest in 529 college savings plans renewed by the new pension bill, John Hancock College Savings has launched a seven-week campaign to promote its 529 plan, which it offers through Alaska.

Investors once again turned to foreign stock and bond mutual funds last month, while interest in domestic equity funds continues to lessen, the Los Angeles Times reports.

While reports circulate that the $600 billion settlement that Prudential Financial reached for its part in the market-timing and late-trading mutual fund scandal might signal the end of the past three years of settlements, investors who lost money because of the activity still await payment.

DuPont is converting its traditional pension plan to a 401(k) for workers hired after Jan. 1, as part of the ongoing trend of companies shifting towards defined contribution and savings plans.

Fidelity Investments is giving its Advisor 401(k) platform a makeover by adding a host of offerings to improve participation and deferral rates and help investors select a balanced asset allocation.

Investors far too often are unaware of the high fees that 401(k) plans charge, Bloomberg reports. Consultants who advise plan sponsors on setting up a 401(k) frequently charge ongoing fees that are hidden in expense ratios. In some cases, mutual funds pay consultants or brokers to promote their funds through hidden revenue-sharing agreements that inflate fund fees by as much as a third.

Although its most recent quarterly balance sheet showed it had $5.8 billion in marketable securities, Google has asked the Securities and Exchange Commission to exempt it from mutual fund regulations, the Associated Press reports. That's just over 40% of its total $14.4 billion in assets in marketable securities, a threshold that the SEC sets for a company to be treated as an investment firm or mutual fund.

Interest in 529 college saving plans is likely to pick up again on the strength of lower fees, more investment options and enhanced federal and state tax benefits, according to The Wall Street Journal.

Prudential Securities will pay $600 million to settle government allegations that former brokers and a branch manager in Boston helped investors rapidly trade mutual fund shares.

In the incendiary case that taught all of America the importance of 401(k) diversification, it seems that some Enron employees may be slightly closer to relief, according to the Houston Chronicle.