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The Hartford Mutual Funds will permanently reduce fees on six of its fixed income funds, effective Nov. 1. The biggest reduction is in the gross expenses on share Class A on The Hartford High Yield Fund, which are being reduced by 15 basis points to 1.25%. The other funds are seeing reductions in fees of between two basis points and 10 basis points.

Standard & Poor’s has launched a new U.S. Mutual Fund Excellence Awards program to recognize those funds that consistently achieve the highest ranking in S&P’s five-star rating system.

ETFdb.com, an information source and database of exchange traded funds, has launched a free conversion tool that allows investors and advisors to map current mutual-fund holdings to their equivalent ETFs, which typically have cheaper expense ratios and are easier to trade.

Looking to fill a growing need for advisers for its brokerage business at a reasonable cost, PNC Financial Services Group Inc. has been training promising candidates in-house, in a departure from standard bank practice.

The E*Trade fund supermarket now includes 18 funds from USAA Management, 12 of them fixed income. USAA manages $43 billion in mutual funds and $6 billion in managed accounts.

The family office sector continues to experience key personnel shifts and increased consolidation.

The company hired Donald Gershuny as a managing director and general counsel, Americas; and Peter Reynolds as a managing director and chief risk officer, Americas.

Bank of America Merrill Lynch said it is forming a Global Futures and Derivatives Clearing Services group ”in anticipation of the substantial growth in OTC derivatives clearing.”

Money managers buck August’s pessimism to enjoy a rosy September.

New tool approximates costlier mutual fund portfolios in exchange traded funds.

Baird added six wealth management pros, including four advisors, to one of its Colorado office, who bring a combined $450 million in client assets.

The addition to its open technology platform expands independent advisors’ access to third-party providers

The Basel III bank capital requirements proposed earlier this month threaten to eviscerate the supply of eligible investments for tax-free money market funds — an industry already struggling with a severe supply shortage.

Mornginstar ETF Director Scott Burns said the firm might remove leveraged and inverse ETFs from its star rating system.

The exit of capital from mutual funds in the United States has slowed down, but showed signs of picking up steam again this month.

Brown Brothers expanded its relationship with OppenheimerFunds to provide middle and back office services through a new “lift-out” agreement for a $155 billion division.

To avoid a Lehman Bros. redux, federal regulators must prepare for the next crisis by obtaining blueprints for unwinding the largest financial companies.

Rep. Spencer Bachus came out swinging Wednesday against speculation he may not become chairman of the House Financial Services Committee if Republicans win control of the House in the midterm elections.

Fifty-seven percent of money managers view the market as undervalued, Russell Investments found in its latest survey, of 170 senior-level managers. This is the second-highest percentage in survey history. Only 7% of managers believe markets are overvalued.

Brown Brothers Harriman Trust, based in New York City, launched the BBH Core Select mutual fund in 1998 as a small trailer fund to help younger members of its wealthy families manage smaller sums.