Special Program Root Tag

ProFund Advisors, which oversees the ProFunds family of mutual funds, is close to a deal for the naming rights to the stadium that houses Major League Baseball's Washington Nationals, The Baltimore Sun reports

In what is being perceived as a major development in the debate over 12b-1 fees, the U.S. Department of Labor has delivered an advisory opinion that says banks, brokerage firms and investment firms cannot accept payments from mutual fund firms in exchange for guiding retirement account customers into those funds.

Canada's chief securities regulator said late Friday it has suspended the registration of Norshield Asset Management, a unit of a hedge fund group that dropped a bombshell by halting redemptions, Reuters reports

Philadelphia-based Lincoln Financial is launching four new lifestyle funds that allocate risk based on an investor's life circumstances. In other words, the funds base their risk levels and how close an investor might be to reaching their retirement goals.

Assets in equity mutual funds climbed higher in April as net flows totaled $18 billion, $3.5 billion greater than in March, on the strength of new money heading into international funds, according to a report released on Monday by fund tracking firm Lipper.

Nearly nine out of 10 major financial firms has made serving the upcoming Baby Boomer retirement boon their No. 1 priority, a new report from Financial Research Corp. shows.

Democratic National Committee Chairman and former presidential candidate Howard Dean says his party won't come to the table to discuss Social Security reform unless President Bush removes his controversial private accounts from debate.

Fidelity Management & Research's stake in German-based SolarWorld reached 5.39%, the solar energy company said on Friday.

William Donaldson, Republican chairman of the Securities and Exchange Commission, is defending his record for breaking down political divisions and obtaining unanimous votes among its commissioners.

Pittsburgh-based Mellon Financial announced on Friday that its Payments Solution and Investor Services unit would administer the middle and back office for the managed accounts business of Clover Capital Management.

It's not Red Sox versus Yankees quite yet, but the rivalry between the New York Stock Exchange and the Nasdaq is expected to heat up in the coming year.

The board of RS Investment Trust didn't know that Edward Stern's now-defunct hedge fund Canary Capital Partners was engaging in late trading in one of its mutual funds, the co-chairman of RS Investment testified Thursday in the criminal trial of the former Bank of America broker, who allegedly facilitated the trades.

Janus Capital is again battling charges related to market-timing and after-hours trading. But this time, Janus says West Virginia Attorney General Darrell McGraws suit is precluded by settlements with the Securities and Exchange Commission and other state regulators.

Two lawmakers introduced a bi-partisan bill last Tuesday that would permanently preserve the tax exemption on qualified withdrawals from 529 college savings plans, the so-called sunset provision that is set to expire after 2010.

Maintaining highline performance in its mutual funds is a key strategy for MFS Investment Management to regain its position in the marketplace, according to C. James Prieur, president and chief operating officer of MFS parent Sun Life Financial. Prieur made his remarks at a recent UBS Global Financial Services Conference in New York.

WASHINGTON Recent growth trends in the asset management business indicate that brand and reputation have become increasingly important, as abusive mutual fund trading practices have prompted investors to vote with their feet.

WASHINGTON Texas financial adviser Carl Stuart has a message for mutual fund wholesalers, Yall stop by, yahear.

Former head of Canary Capital Partners, Edward Stern, testified recently that a former BoA broker was largely unaware of any illegal trading activity taking place at his firm. Stern made his recent remarks at the criminal trial of former Bank of America broker Theodore C. Sihpol III.

WASHINGTON It was a first for the largely introspective ICI: Uncut, plain-speaking videotapes of investors on their mutual fund holdings and, all too often, a dim view of the industry (see ICI Rolls Unvarnished Shareholder Videotape, www.mmexecutive.com, 5/12/05).

WASHINGTON The Investment Company Institute is strongly supporting a new piece of legislation called The Growth Act, or Generating Retirement Ownership Through Long-Term Holding.