Special Program Root Tag

With stock prices rising more than 30% since the year began, global investors have begun to delve back into Asian markets, according to Singapore’s deputy prime minister.

Boston-based Eaton Vance said on Friday it has launched the Vance Tax-Advantaged Dividend Income Fund, a new closed-end mutual fund worth $1.3 billion, Reuters reports.

"Short-selling," the legal but questionable tactic of betting against a stock in order to make a profit, is set to undergo strict rule changes from U.S. securities regulators.

Strong Financial took home the "Star Award," for Overall Communications Effort, considered the event’s most prestigious prize, even as the firm is mired in the heart of the worst scandal in the history of the fund industry. Strong’s showing was not weak, as it won first-place among large companies in five other categories. TIAA-CREF Mutual Funds was the most frequent winner out of the small companies, while Ariel held the distinction among medium-sized companies.

Cash compensation for wholesalers of investment products and services increased 3% in 2002, according to executive search and consulting firm DGL Consultants.

The board of trustees of Bank of America has named a new interim chief for its mutual fund group after the former head was fired amid a probe of alleged trading violations.

The Investment Company Institute endorsed the Securities and Exchange Commission’s recently approved action aimed at making fund advertisement more balanced.

On the heels of success in categorization with U.S. funds, Morningstar has announced an October launch for a foreign funds classification system that the company hopes will aid fund-owners in investment decisions.

After examining hedge funds for over a year now, the Securities and Exchange Commission staff is ready to recommend all hedge fund managers be required to register with the regulatory agency, according to sources, Bloomberg reports.

In examining the companies in which they have holdings, shareholders have become more forceful and willing to ask questions, a new survey shows.

Credit Suisse Asset Management, the institutional and mutual fund arm of Credit Suisse First Boston, has named Dennis Schaney, formerly of BlackRock Financial Management, as its global head of fixed income, filling a new position.

Hennessy Advisors added a fifth fund to its no-load mutual fund group when it announced the launch of the Hennessy Focus 30 Fund Wednesday.

The U.S. Securities and Exchange Commission approved a new rule on Wednesday requiring mutual fund companies to provide more balanced information in their advertisements when promoting fund performance.

Strong Funds are being investigated by Eliot Spitzer, New York’s Attorney General, for illegal after-hours trading. In what some might call an ironic turn, the company has just made changes in one of its funds to stop that practice among investors.

A $25 million savings can be expected by financial service companies if they shift 1,000 jobs overseas, according to Cutting Edge Information, the Durham, N.C. business intelligence firm.

Technology funds have performed splendidly over the past year, but caution might be best for investors anxious to rush back into the techies that burned them a few years back, according to a recent Reuters report.

TIAA-CREF said that it is laying off about 500 workers, or 8% of its workforce, Reuters reports. Most of the cuts came in the computer systems areas, largely from the New York office.

For the second time in less than a week, Pioneer Investment Management announced plans to expand its offerings. The Boston-based money manager said on Tuesday that it has reached a preliminary agreement with Oak Ridge Investments in which Pioneer will become the investment manager for two mutual funds managed by Oak Ridge.

Boards of directors at mutual funds engaging in illegal trading should be reviewed and if necessary, changed, former U.S. Securities and Exchange Commission Chairman Arthur Levitt said, according to a Reuters report.

A former Wachovia securities broker who allowed clients to buy shares in an unregistered hedge fund was named in a fine-seeking complaint by the Massachusetts financial regulator Monday, Reuters reports.