-
Long-term mutual funds had positive sales for the 49th straight week, taking in $5.68 billion in the week ended Feb. 17, according to the Investment Company Institute. This brings sales over the last 11 months to a total of $476 billion.
February 25 -
An average 24% increase in advisory, distribution and service fees fueled a 87% surge in Eaton Vance’s first quarter profits to $46.2 million, or 37 cents per share, compared with profit of $24.7 million, or 21 cents per share in the year-ago quarter ended Jan. 31.
February 25 -
A MassMutual survey of 1,000 of its retirement plan participants found that 75.8% believe the stock market will improve over the next 12 months. Only 7.6% think it will decline.
February 25 -
A New York federal judge ruled Wednesday that the Securities and Exchange Commission’s lawsuit against Reserve Management, its founder, Bruce Bent, Sr., and his son, Bruce Bent II, can proceed since the SEC adequately proved they committed fraud through misstatements and omissions of facts about the flagship Primary Fund.
February 25 -
The Securities and Exchange Commission has received just over 200 comment letters since it posted its proposed roadmap for transitioning to International Financial Reporting Standards on its website in 2008, and it’s now receiving some extra suggestions ahead of its deliberations on the roadmap on Wednesday.
February 24 -
A “new frugality,” born of The Great Recession and two consecutive years of declining consumption—the first time since the Great Depression—is becoming entrenched consumer behavior that will persist for years even as the economy rebounds, inevitably reshaping marketing strategies for financial services and other leading companies, a Booz & Co. survey of 2,000 U.S. consumers shows.
February 24 -
Citigroup is looking to sell a hedge fund unit with $4 billion in assets under management to SkyBridge Capital, according to The Wall Street Journal, citing people familiar with the talks.
February 24 -
Fidelity Investments has introduced a brokerage trading application complete with real-time news and quotes, interactive charting and watch lists for the iPhone and iPod Touch. The program lets users trade stocks, options, exchange-traded funds and mutual funds.
February 23 -
TD Ameritrade has reorganized its 13,000 mutual fund offerings into four different investment objective categories and turned to independent mutual fund research company Morningstar to rate the “Premier List” of funds.
February 23 -
John Hancock Funds has launched the John Hancock Strategic Income Opportunities Fund, an unconstrained version of the John Hancock Strategic Income Fund.
February 22 -
Investors in the mutual funds of Capital Research & Management appear to have taken notice of the funds being beaten by more than half of their peers in 2008 and 2009, as redemptions are coming in at the fastest pace the company has seen in its 79-year history. Last year alone, the company was hit with $25.5 billion in redemptions, and in the previous year, $16 billion.
February 22 -
It's about time mutual fund product developers thought out of the Morningstar investment-style box to give portfolio managers the ability to do an about-face.
February 22
-
It's about time mutual fund product developers thought out of the Morningstar investment-style box to give portfolio managers the ability to do an about-face.
February 22 -
AllianceBernstein Gives Target-Date Funds 20% Leeway to Manage Excessive Risk
February 22 -
Following a fall in January that sent him to intensive care with numerous broken bones, American Century's James E. Stowers has ceded control of the company he founded in 1958 to co-chairman Richard W. Brown.
February 22 -
Exchange-traded funds, once the province only of institutional investors, are increasingly resonating with wealthy investors, The Wall Street Journal reports.
February 18 -
American Funds has sold $187 million, or 99% of its original $190 million, holdings via three mutual funds in PetroChina shares, a company Investors Against Genocide has railed against for funding genocide in the Darfur region of Sudan. The latest SEC filings show the fund company’s holdings as of Dec. 31 at a mere $2.7 million.
February 18 -
Investment managers around the world are cautiously optimistic about stocks in the coming year but more guarded about bonds, Towers Watson found in a survey of 98 managers with $13.3 trillion of assets under management. They foresee economic growth, albeit modestly.
February 17 -
When Mary Schapiro took office as chairman of the Securities and Exchange Commission last year, she faced a myriad of issues related to the financial crisis—and outlined a series of new regulations that, so far, have come up short, The Washington Post reports.
February 17 -
BlackRock isn’t satisfied with its December 2009 acquisition of Barclays Global Investors, according to a Daily Mail of London report. Now the $2.7 trillion investment giant is considering buying hedge fund manager of managers Man Group.
February 17