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Housing manufacturer Fleetwood Enterprises has selected CitiStreet to administer the company's 401(k) plan. With almost 10,000 participants, the plan has about $300 million in assets.

Two former executives of the collapsed Bayou Management have been expelled from operating in the securities industry for an unspecified amount of time, according to Reuters.

The fertile green funds market may sprout an index of its own. New York-based Nasdaq and Clean Edge, a clean technology consulting firm with offices in Oakland, Calif., and Portland, Ore., announced on Tuesday plans to launch a Clean Edge U.S. Index.

Morgan Stanley has agreed to pay $15 million, which will settle allegations that the firm did not produce thousands of e-mails for the Securities and Exchange Commission's IPO and research analyst investigations, which occurred from 2000-2005, Reuters reports.

Riding the boom on gold bullion exchange-traded funds, Van Eck is preparing to launch an ETF that would follow publicly traded gold mining companies, according to The Wall Street Journal.

Driven by the adoption of U.S.-style real estate trusts abroad, weakness in the greenback and demand for international investment opportunities by big pension funds and endowments, American mutual fund companies are diving head first into the burgeoning international property sector.

Janus Capital CEO Gary Black, has bought almost $1.5 million of the company's stock in the open market last Friday, the Associated Press reports. He purchased 75,000 shares at $19.75 a piece.

Man Group's brokerage unit, Man Financial, and seven of its employees are being sued for fraud and racketeering, in an effort to recover assets lost by investors in a hedge fund that collapsed, Bloomberg reports.

The push for interactive data for investors is moving toward mutual funds.

Potomac Funds has changed its name to Direxion Funds, as part of a new strategic plan.

Former Citigroup equity derivatives group Managing Director Ranesh Menon has opened his own company that will design and manage equity derivative funds, according to Derivatives Week.

The Securities and Exchange Commission has issued a cease-and-desist order against Unified Fund Services, a transfer agency, fund administration and accounting firm, and its former vice president of fund accounting, Michael E. Durham. The firm has also been ordered to pay a $125,000 civil penalty.

The Securities and Exchange Commission and the North American Securities Administrators Association announced Monday they are working together to protect elderly investors from investment fraud and the sale of unsuitable securities.

The $10 billion Putnam Voyager Fund, Putnam Investments' second-largest fund, has certainly seen better days. The fund has lost 75% of its assets since 1999 and has delivered a meager average annual return of 40 basis points in the past five years, compared to an annual return of 5.5% of its growth fund peers in that period, Bloomberg reports. In 2002 alone, it plummeted 27%.

Mario J. Gabelli smoothed wrinkles in his relationship with some charter investors last week with a $100 million settlement, according to The New York Times.

If America is facing an obesity epidemic, small-cap mutual funds are not immune, according to Morningstar commentator Todd Trubey.

The U.S. Treasury has proposed a rule that all mutual fund companies be required to report any suspicious financial transactions, hoping to net drug dealers, terrorists and launderers, according to the Associated Press.

Growth funds are shying away from technology and instead looking at construction and manufacturing areas, stocks that they have not considered investments in for almost a decade, according to The Wall Street Journal.

A Fidelity study reveals that 403(b) plan sponsors are showing mixed feelings as they prepare to implement pending regulatory changes to the plan announced by the Internal Revenue Service last month. Among the changes, employers will be responsible for selecting investment choices that make the most sense for participants.

Between the end of 2000 and the end of 2005, assets in U.S. mutual funds swelled from $6.96 trillion to $8.91 trillion, according to data from the Investment Company Institute. Compounded annually, that's growth of a handsome 5.1%, and if the current trend continues, the industry should pass the $11 trillion mark by 2010.