Special Program Root Tag

If you can't join em, beat em! That's the seemingly backward battle cry from Irving Straus, the chairman of Straus Corporate Communications of New York.

Janus Capital Group Inc. has hired John H. Bluher, 46, to be a senior vice president and its general counsel and chief public affairs officer, starting Aug. 23.

Just one week after suffering outflows of $170 billion, U.S. equity mutual funds added $874 million in the week ended July 21, according to research firm AMG Data Services.

A new bill proposed in the House would exempt up to $20,000 in annuity income from federal taxation. The Retirement Security for Life Act of 2004 proposes that 50% of annuity income, up to $20,000 annually, be free of taxes, amounting to savings up to $5,000 for someone in the 25% tax bracket.

Citing the small fund family’s inability to survive on its own, Citizens Banking Corp. this week announced that its Golden Oak mutual funds would become the joint possession of Goldman Sachs and Federated Investors, Reuters reports.

Citing the small fund family’s inability to survive on its own, Citizens Banking Corp. this week announced that its Golden Oak mutual funds would become the joint possession of Goldman Sachs and Federated Investors, Reuters reports.

Janus Capital reported a significant second quarter jump in income to $130.2 million from $47.5 million during the same quarter in 2003, according to a recent filing.

Thrivent Investment Management has merged its fund families, creating the Thrivent Mutual Funds. Thrivent was created when the Aid Association for Lutherans and Lutheran Brotherhood merged in 2002.

Fidelity Investments said on Thursday that its brokerage unit got a tidal wave of net new client assets in the second quarter, while trading volume jumped 75%, when compared to the corresponding period last year.

Mutual fund investors may experience something less than a windfall from a landmark $32 billion, or $3 per share, dividend payment, from Microsoft Corp, but growth and value investors may still appreciate the gesture for different reasons, The Wall Street Journal reports.

Second quarter earnings at Franklin Resources slipped to $862.8 million from $874.6 million generated during the previous quarter due to the costs of settling charges with regulators, officials said.

Legg Mason announced that its board had approved a three-for-two stock split, payable Sept. 24 to shareholders of record as of Sept. 8. The move came a day after the company reported quarterly earnings that missed analysts’ expectations.

Banc of America Securities has announced the hiring of Steven Hollender to be a managing director and head of investment-grade credit sales.

Thanks to Securities and Exchange Commission initiatives "to encourage advertisements that convey balanced information to prospective investors, particularly with respect to past performance," mutual fund investors are receiving more information in fund ads, the Associated Press reports.

Citigroup Inc. has received a Wells notice from the Securities and Exchange Commission related to dealings at its mutual fund arm, Smith Barney, the company announced, The Wall Street Journal reports.

With trillions of dollars littering the collective retirement accounts of Baby Boomers, the financial services industry as a whole is gearing services toward obtaining that money as the Boomers begin to retire, The Wall Street Journal reports. With Boomers born between the years 1946 and 1964, the first big wave of 65-year-old retirees should take place in 2011.

Old Mutual Investment Partners has signed a deal handing the majority of its managed accounts operations' back and middle office operations to Mellon Global Securities Services, a subsidiary of Mellon. Previously, Old Mutual relied on a number of different outsourcing partners to serve the back offices of its various divisions.

Thanks to Securities and Exchange Commission initiatives "to encourage advertisements that convey balanced information to prospective investors, particularly with respect to past performance," mutual fund investors are receiving more information in fund ads, the Associated Press reports.

A rebound in stock mutual fund inflows is could be the long-awaited harbinger of rejuvenated investor confidence in the market, according to Lipper.

Charles Schwab & Co. Chief Executive Officer David S. Pottruck resigned Tuesday and was replaced on an interim basis by Charles R. Schwab, the company's founder, who also serves as chairman of the its board of directors.