Investment funds

The Securities and Exchange Commission has announced the Fair Fund distribution of approximately $418 million to more than a million investors who were harmed by market timing activities in certain Invesco mutual funds managed by Invesco Funds Group, Inc.

John Hancock Funds announced Monday it has completed the adoption of Fiduciary Management Associates' FMA Small Company Portfolio, and has launched it as the new John Hancock Small Company Fund.

BlackRock Inc. announced in a regulatory filing that it plans to introduce a portfolio to give high-net-worth investors access to difficult-to-obtain hedge funds.

Symetra Life Insurance Company has launched a group variable annuity for the 403(b) and 457 marketplaces, with schools and nonprofits in mind.

Fidelity Investments has helped a record 185 brokers leave wirehouses and join registered investment advisory firms and independent broker-dealers so far in 2009, the company said Monday.

Despite heavy losses in their portfolios, most high-net-worth investors are sticking with their financial advisers, according to the Northstar/Sullivan Rebuilding Investor Trust Survey.

Fund managers are betting that emerging markets will be the best place for growth in 2010, due to their lack of correlation to the rest of the world and its sluggish, forecasted recovery, but lower correlation does not mean greater safety.

American Century Investments is a brand-new player in the international wealth management business-and that novelty could be an ace up its sleeve, according to the company's top executive.

Senate Bill Would Disclose Projected Income of 401(k) Balances

Thirty years after the Securities and Exchange Commission allowed an exemption to help mutual funds pay for promotional sales and marketing expenses, the agency is once again considering revising or renaming these controversial charges, known as 12b-1 fees.

The House passed a regulatory reform bill 223 to 202 on Friday that would significantly reshape the financial framework.

Charles Schwab Investment Management announced Friday that trading has begun in two new exchange-traded funds, with no online trading commissions for Schwab clients and low operating expense ratios.

The majority of high-net-worth investors have stuck with their financial advisers despite heavy losses to their portfolios as a result of the financial crisis that have left them “highly distrustful and disillusioned."

The economy may not have bounced back, but consumer confidence is on the upswing.

Disenchanted with mutual funds, some investors are turning to a pair of online registered investment advisory firms to create managed accounts that mimic the investments of preselected managers.

Long-term mutual funds took in $7.11 billion in the week ended Dec. 2, marking the 38th straight week of sales, which now total $384 billion for the period, the Investment Company Institute said.

PIMCO co-CIO Bill Gross told the Reuters Investment Outlook Summit he sees only faint economic growth in 2010, forcing the Federal Reserve to keep short-term interest rates low until it is certain the country is returning to “stable and substantial growth.”

Effective Jan. 1, Vanguard President and Chief Executive Officer F. William McNabb III will succeed John J. Brennan as chairman of the $1.3 trillion investment company. McNabb will continue to also hold the titles of president and CEO.

Putnam is laying off 104 people, or 5% of its staff, this month, primarily in operations and technology. However, three portfolio managers and 13 asset management support staff are also getting the ax. After the cuts, Putnam’s total staff will number 1,827, which includes 63 new hires this year, including 12 investment professionals.

Morningstar has launched an upgraded version of the free applications it developed for the Apple iPhone or iPod Touch in May that now include performance charts for stocks, funds, exchange-traded funds and indexes. Alongside this information, investors can view the Morningstar Market Barometer and data on each of the Morningstar fund categories, as well as market indexes and news.