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WASHINGTON - The fees at pension funds and mutual funds are virtually identical once the two entities are compared as "apples and apples" and include sub-accounts, an Investment Company Institute economist said during a conference call last Tuesday.

Given the current scandal plaguing the mutual fund industry, it is now more important than ever to recognize the efforts of those who have stayed true to shareholders and generated outstanding long-term results.

Calpers is investigating Franklin Resources for its admitted role in market timing

New York Attorney General Eliot Spitzer may file a civil lawsuit against former New York Stock Exchange Chairman Dick Grasso in an attempt to recoup some of his $140 million pay deal.

If proper monitoring of fund flows had taken place, much of the market timing that has marred mutual fund firms may have been much easier to detect, Securities and Exchange Commission Chairman William Donaldson said Wednesday.

Strong Capital took one step closer to selling off its assets, as six bidders, mostly U.S. banks, reportedly threw their hats in the ring before the firm’s imposed deadline.

Bank of America Corp. announced the appointment of a new general counsel Wednesday to replace the retiring Paul Polking.

If shareholders are to receive increased power on corporate boards, as a new proposal suggests, it will not be before a serious public discussion by the Securities and Exchange Commission examines the pros and cons.

Even with the Nasdaq and S&P 500 at two-year highs and the Dow Jones Industrial Average comfortably above the 10,000-mark, almost two-thirds of public company employees said they would not shift strategies within 401 (k) plans, according to a survey by the benefits firm Clark Consulting.

The mutual fund scandal dominating retirement plan news for recent months has prompted employers to focus more closely on 401(k) participants making rapid trades.

Strong Capital took one step closer to selling off its assets, as six bidders, mostly U.S. banks, reportedly threw their hats in the ring before the firm’s imposed deadline.

The Arbitrage Fund, which plays by the mergers and acquisitions risk arbitrage strategy, will close its doors to new investors beginning Jan. 30. And as of Feb. 27, its sister fund will also close.

Money Management Executive has put together a two-minute questionnaire on the ongoing fund scandal. Weigh in with your own thoughts, including how well you think your trade organization, the Investment Company Institute, is handling the news. Click here: http://www.mfmarketnews.com/poll.cfm

WASHINGTON – The fees imposed by pension funds and mutual funds are virtually identical once the two entities are compared as "apples and apples" through sub-accounts, an Investment Company Institute economist concluded via a conference call Tuesday.

Dennis Weatherstone, former head of J.P. Morgan, is being pursued by The New York Stock Exchange to be its next chairman, Reuters reports.

Idex Mutual Funds is asking shareholder for permission to reorganize several of its funds, merging several and eliminating the name Janus from many of the funds, Dow Jones reports.

Hedge funds are charging a whopping 80% more in fees than actively managed offshore equity mutual funds, according to a research report issued Monday.

In an effort to offer a more diversified product to investors, T. Rowe Price introduced the Diversified Mid-Cap Growth Fund last week, a fund geared toward the mid-cap growth area.

A slew of U.S. regulators warned banks, including their senior management and boards of directors, of the pitfalls of providing financial support to faltering mutual fund firms they advise, in a joint policy statement released on Monday.

Putnam Investments’ board of trustees approved a 2% redemption fee on short-term trades today, a move that should help curtail the market timing practices that have marred the nation’s fifth largest fund firm.