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Hatteras Funds has promoted Robert Murphy chief investment officer of the Hatteras Alternative Mutual Funds.

Index funds are “just slightly underperforming” their benchmarks because of their small expenses, according to a Lipper report.

Russell Investments is planning to close its family of 25 passively managed ETFs. Russell will continue to operate the Russell Equity ETF.

Nasdaq OMX Group said it plans to launch 150,000 indexes by the end of next year. The firm will raise redefine 'real-time" to feature tick by tick updating of index values

Incapital, an underwriter of fixed income securities and financial products, has launched Incapital Canada.

Year-to-date, total annuity sales declined eight percent compared to the first half of 2011, reaching $57.0 billion, according to LIMRA.

Broadridge Financial Solutions has tapped Joe Contin to be General Manager, Broadridge City Networks EMEA.

Columbia Management is planning to further expand into the actively managed ETF space with 17 new ETFs.

Principal Funds has rolled out the Principal Opportunistic Municipal Fund, which can invest across a broad range of credit qualities, durations and geographic exposures.

Municipal debt funds stayed on track for the 18th consecutive week of net inflows, this time for $0.9 billion.

SS&C has consolidated its fund administration and Portia portfolio investment accounting system businesses in a single business unit renamed SS&C GlobeOp.

The Securities and Exchange Board of India met yesterday and took a number of steps to reenergize the mutual fund industry in India.

QFS Asset Management announced that Dr. Jim Xiong has rejoined the firm as co-chief investment officer.

Anchor Capital Advisors will hire Michael C. Pierre as portfolio manager and acquire the client accounts that he manages from Moody Aldrich Partners.

Assets of institutional money market funds increased by $13.17B in the last week, the third largest inflow of institutional money since the end of March.

Closed-end fund assets increased $1.61B during Q2. Equity fund assets decreased by $1.5B to $96.21B, and bond fund assets increased by $3.11B to $153.39B.

The world’s largest asset manager will use software from Hewlett-Packard to speed development of applications for Aladdin, its investment management platform.

Individual investors like what they see in long-term muni bond mutual funds and so have been pouring more money into them in 2012 than they have in years.

Defined contribution plan sponsors need to do a better job communicating key information to participants, according to a survey of plan participants.

BMO Asset Management is changing the investment objectives of several ETFs. The biggest change involves switching two of the ETFs to more recognized indices.