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AIM Fund Services, the transfer agent of AIM Management Group, has switched from using two portals to supply financial intermediaries with customer information, to just using DST Systems’ Vision. Previously, AIM also used the fund industry-owned AdvisorCentral, but when it found that 90% of traffic to intermediaries and broker/dealers was running on Vision, the company decided to make the change.

Hedge funds gained an average of 1.86% in April, according to HedgeFund.net. But by comparison, the S&P 500 gained 8.24% in April and 4.83% since the beginning of the year. The Dow Jones Industrial Average also trounced hedge funds last month, returning 6.25% in the month and 2.39% since the beginning of the year.

Janus Capital Management is searching outside its walls for a new investment chief.

Fidelity has been boosting its holdings in blue-chip stocks in a "buying spree" this year, Reuters reports.

Ryan Jacob, who became a poster boy for the burst of the bubble after being lionized for his triple-digit returns in the 1990s, is back, Investor’s Business Daily reports.

Equity mutual fund inflows hit their highest level in a year as investors cheered a swift military campaign in Iraq and a broad-based rally in stocks.

Welcome to Money Management Executive, the relaunched, expanded version of Mutual Fund Market News.

The House Financial Services Capital Markets Subcommittee will hold a hearing this Thursday to examine the role of hedge funds in today’s financial markets.

Managed Account Companies See Growth in Regional Banks

BOSTON - Fidelity Investments Vice Chairman and COO Robert L. Reynolds has the Midas touch when it comes to the firm's 401(k) business, but can the No. 2 man at the country's No. 1 fund firm duplicate his success?

Steve Martin once observed famously that in order to become a millionaire and never pay taxes you must "First, get a million dollars." If investing were actually that simple, then the separately managed account business would probably be the most lucrative investment vehicle around.

Investors shut out of the record settlement between regulators and 10 Wall Street firms accused of gross misconduct during the fast and furious days of the bull run, can further pursue civil action against the firms, the Securities and Exchange Commission said.

This issue is an important and exciting one, not only because it is devoted to the mutual fund industry's biggest gathering of the year, the Investment Company Institute's General Membership Meeting in Washington this week.

Assets in exchange-traded funds grew 8.6% to $100.83 billion, according to The Investment Company Institute.

Over the next five years, 500,000 jobs at American financial services firms will move overseas, according to a study by A.T. Kearney. Eight percent of the workforce will lose their jobs to offshore locations at mutual funds, banks, brokerages and insurers. Companies anticipate saving $30 billion annually as job relocations begin to involve increasingly sophisticated positions within companies.

State Street Corp. has been awarded two contracts to provide custodian and administration services for Scudder Investments and Aon Asset Management.

The Stanton Group and LOMA have teamed up to conduct a new survey that tracks compensation of portfolio managers according to fund performance and size. Results are expected to be published in September and are intended to help fund companies pay portfolio managers on a more consistent basis.

Berkshire Hathaway has appointed two new executive directors to its board of directors.

The boards of directors of Seligman Quality Municipal Fund, Inc. and Seligman Select Municipal Fund, Inc. announced the re-election of three directors and the election of a new Director at their annual meeting in New York.

Liberty Acorn Fund manager Ralph Wanger has announced that he will be stepping down from his position at the end of September. He will hand his responsibilities to longtime co-manager Chuck McQuaid, according to a company announcement.