Investment funds

The mutual-fund industry, in what may be the last round of lobbying against tighter rules for money-market funds, rejected a scaled-back proposal to force only the riskiest funds to give up their stable $1 share price.

It’s no secret that the Investment Company Institute is opposed to proposals by the Securities and Exchange Commission to float the net asset value of money market funds and ICI President and CEO Paul Stevens today reiterated the group’s stance on the SEC’s proposal.

Investors pulled $13.34 billion from mutual funds for the week ended Wednesday, June 12, according to data from the Investment Company Institute.

Paul Jablansky, the head of structured products at fixed-income manager Western Asset Management Co., has left the unit of Legg Mason.

Global asset managers are looking to get their investment data management house in order, according to a study released by DST Global Solutions.

In May, stock and bond mutual funds, including exchange-traded funds attracted $56 billion of net inflows bringing total net intake for the first five months to about $350 billion, according to data from Strategic Insight.

Leawood, Ka.-based Montage Investments has been busy lately adding more sales executives, assets and a new mutual fund to boot.

In May, stock and bond mutual funds, including exchange-traded funds attracted $56 billion of net inflows bringing total net intake for the first five months to about $350 billion, according to data from Strategic Insight.

At the fund family level, Vanguard Group once again led all providers with more than $11 billion in flows, according to data from Morningstar.

DCIO shops are converging this week in New York to showcase their wares and portfolio managers to advisors.

The United Services Automobile Association, first created as a means for army officers to insure their automobiles more than 91-years ago, has been taking a number of steps into retirement plan portfolios.

Within the past month, a number of mutual fund shops have embarked on branding campaigns.

The bank extended portfolio management and asset allocation services to clients with $50,000 in investable assets. The services were previously only available to trust clients.

Franklin Resources has acquired the remaining 80% stake of alternative investments specialist Pelagos Capital Management.

Within the past month, a number of mutual fund shops have embarked on branding campaigns.

RiverPark Funds is closing the RiverPark Short Term High Yield Fund (RPHIX, RPHYX) to new investors on June 21.

J.P. Morgan Asset Management's U.S. money market funds will begin disclosing their daily and weekly liquid assets online each business day as of the prior business day, effective June 18, 2013, according to the firm.

Ridgefield, Conn.-based Simple Alternatives, an alternative mutual fund shop, has added two more long/short managers to its flagship S1 Fund (SONEX), a multi-manager, long/short equity mutual fund.

MainStay Investments is looking to give its retirement business a boost by offering additional non-revenue share class (R6 Shares) for six funds, effective June 17.

The TCW Group has added Joseph Carieri as head of U.S. institutional distribution and marketing, responsible for all marketing activities and initiatives related to the institutional investor community.