Special Program Root Tag

The world's top mutual fund company has found that tabbing stocks is not the only way to make big money.

Robert Pozen, Massachusetts Financial Services' newest chairman, says the punishment doesn't fit the crime at his new firm.

Three U.S. Senators introduced new legislation last week aimed at reforming the $7.4 trillion mutual fund industry. The Mutual Fund Reform Act of 2004 would not only stamp out abusive trading practices but also overhaul the hidden fee structure imposed on shareholders.

BOSTON--Life after Lasser at Putnam Investments isn't as bad as it might appear from afar. A staple of Bean Town's financial district, Putnam is in the process of an "Extreme Makeover" after experiencing one of the biggest kicks in the teeth the industry has ever seen.

Investment management giant Federated Investors quarterly profits dropped 12% after taking a $20 million charge to cope with improper mutual fund trading.

Franklin Resources last week said that improper trading of its mutual fund shares were isolated incidents that do not reflect widespread company abuses and didn't harm long-term shareholders.

Fassnacht to Take Over Vanguard Windsor Fund

Managed account assets have eclipsed the half-trillion dollar mark, as a robust rally in stocks and strong account growth bolstered the largely fee-based business.

Among the awards that Dalbar presented this year to the investment management community – including mutual fund, broker/dealer, annuity, life insurance and retirement plan providers – New York Life took top honors for pre- and post-sale support to financial professionals — who Dalbar defines as bank and wirehouse reps, broker/dealers and independents — as well as its consistently high level of customer services to both mutual fund investors and holders of annuities.

In an open letter to shareholders that has just gone out, Fidelity Chairman Edward "Ned" Johnson 3rd expresses his concerns that regulators should practice caution before rushing to any "quick fixes" in response to the current scandal "siren-song."

PEA Capital, formerly known as Pimco Equity Advisors and manager of some of PIMCO’s brand-name funds, has been approached by the SEC in a matter relating to market timing by Canary Capital Partners, The Wall Street Journal reports this morning.

Registering with the SEC should not be a requirement of hedge funds, at least not in the mind of Federal Reserve Chairman Alan Greenspan.

After not paying investors the more than $86 million worth of breakpoint discounts they deserved, 15 brokerages were forced to settle for $21.5 million with the SEC and NASD yesterday, as reported, and all will have to pay the investors what they are owed.

The SEC and the NASD are likely to announce a settlement with 15 securities firms today worth a total of $20 million in settlement charges, The Wall Street Journal reports this morning.

The combined assets of exchange-traded funds (ETFs) fell just shy of $160 billion in December, topping November’s inflow of $132.7 billion and increasing nearly 50% on December 2002’s inflow of $102.1 billion, according to the most recent data from the Investment Company Institute.

The world’s top mutual fund company has found that tabbing stocks is not the only way to make big money.

The global hedge-fund industry saw record inflows of an estimated $60 billion in net assets in 2003, according to a preliminary report by Tass, the research arm of U.K.-based Tremont Capital Management.

In its annual grading of emerging markets, Calpers offered a passing grade to Malaysia, further pounding home a point that the Asian markets are on the mend.

Former Fidelity trader Thomas Connolly was sentenced to three years probation yesterday for $2.39 million worth of illegal options trades through the CBOE. Richard Callipari, who managed the options trades that Connolly handled for the nation’s No. 1 fund company, was also implicated.

While mutual fund assets have hit a record $7.4 trillion and flows have been buoyed by an improved economy, EmergingPortfolio.com tracked a slight easing of money in the first week of February in one of the strongest categories this year.