Capital markets

The Labor Department has opened the door to using PE as a component of a target date fund held within a DC plan, writes iCapital Network CEO Lawrence Calcano.

In the first half of the year, fewer than a third of U.S. domestic equity fund managers delivered annualized returns that outpaced the S&P Composite 1500.

The fund giants voted for 99% of U.S. directors proposed by the energy, utility, banking and automotive companies reviewed by nonprofit research group Majority Action.

“Investors are going into lower, more passive mutual funds because they don't want to pay the fees,” an expert says.

Funds from the biggest three issuers account for more than 80% of the industry's total assets.

While some industry employees are eager for the normalcy of their offices, others are more reluctant as experts predict another rise in virus cases.

The industry’s largest money manager experienced record inflows to sustainable products in the first six months of the year.

“Expense ratios matter to most people, particularly when you're looking at these mostly passive funds,” an expert says.

The free lunches are over. Sort of.

Despite some impressive short-term gains, more than half underperformed their peers over the decade.

Investors are placing their bets on value funds after the category posted its worst quarter this century in the wake of the coronavirus pandemic.

The decisions entrench a prolonged decline for prime funds, and could hurt a market that thousands of companies rely on for funding.

JPST, which tracks investment-grade securities maturing in a year or less, has attracted over $3.7 billion in flows this year.

Funds focused on the sector lost more than $2.4 billion in August, the most since 2016.

Ray Dalio’s $138 billion asset manager has tweaked its version of the strategy as yields hit historic lows, a person familiar with the matter says.

Some of the biggest laggards have managed short-term gains of more than 40%.

Fidelity's letter to the Labor Department says the proposal isn't “well grounded or supported by much of the emerging data.”

Among some 500 large-cap U.S. mutual funds, those with at least one-third of manager positions held by women have beaten those with none, data show.

More than 600,000 ounces of the precious metal have been added to ETFs since mid-May.

“The reality is they were always supported by a large team,” according to CEO Jenny Johnson.