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Financial services software giant SunGard has launched a service for international fund processing and distribution, as part of its overall SunGard Global Network Funds service.
June 8 - Money Management Executive
High-speed trading now accounts for the majority of activity on the nation's stock exchanges.
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You weathered the credit crisis. You got through the Flash Crash. You are watching Europe (and the U.S.) struggle to make sure its debt doesn't implode from the global economic downturn. So you're ready for the next big threat to financial markets, right?
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On the first day of June, the Dow Jones Industrial Average dropped 1.95%, the Standard & Poor's Index 2.18% and the and Nasdaq Composite Index 2.5%. In effect, stock market gains for the year were wiped out. The reason: Jobs.
June 8 - Money Management Executive
Mutual funds that invest in alternative types of securities, ranging from commodities to private equity investments, have been hot. But the heat appears to be cooling off.
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On June 8, 2012, mutual funds, ETFs experienced outflows of $8 billion.
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On June 8, 2012,East Hartford, CT-based 3D Asset Management, Inc., an investment management shop, teamed up with East Winsor, NJ-based ExpertPlan, a private label retirement plan recordkeeper, to form a new product partnership.
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On June 7, 2012, Apple is creating a lot of buzz in the retirement and exchange-traded product space and not because of a new product launch.
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On June 7, 2012, Denver-based Curian Capital, LLC added of four new executives to the product development and asset management teams.
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On June 7, 2012, Novato, CA-based Hennessy Advisors, Inc. signed an agreement with FBR Fund Advisers, Inc. to buy the entire family of 10 FBR Funds.
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On June 7, 2012, Boston-based Fred Alger & Company, Inc. ramped up its sales force with two new additions.
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Normally, outsourcing operations at a fund firm is a top-down process.
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On June 6, 2012, Financial services software giant SunGard launched a service for international fund trading, dubbed the SunGard Global Network Funds solution.
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On June 6, 2012, American Century Investments named Peter Cieszko, senior vice president North America, to its management committee, the seven-person senior leadership team that oversees all key functional areas of the company.
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On June 6, 2012, Eaton Vance Corp. hired Michael T. Dirstine as vice president, Institutional Business Development, responsible for developing relationships with corporate and select public pension plans, endowments, foundations and other institutional investors.
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On June 6, 2012, The Securities and Exchange Commission charged OppenheimerFunds Inc. and its sales and distribution arm with making misleading statements about two of its mutual funds struggling in the midst of the credit crisis in late 2008.
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On June 6, 2012, Alternative mutual fund shop Equinox Fund Management, LLC hired BNP Paribas Financial Services to administer its Frontier Fund, a public managed futures family of funds.
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On June 6, 2012, Putnam Investments unveiled a new office in Beijing, representing the firms first foothold in China.
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On June 6, 2012, PIMCO added two more bond funds, the PIMCO California Municipal Bond Fund and the PIMCO National Intermediate Municipal Bond Fund, to its portfolio.
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Financial services firms and money management executives face an emerging issue that represents both an opportunity and a potential threat: How to leverage extremely large data sets, now termed "big data," to proactively manage risk, improve the customer experience and identify market opportunities.
June 6