Investments

Total money market mutual fund assets decreased by $1.38 billion to $2.562 trillion for the week ended Wednesday, October 10, according to the Investment Company Institute.

UMB Financial Corp., a Kansas financial service holding company, has launched the UMB Business Partner Portal, an online tool to help business partners better serve their employer clients.

Investors in U.S. mutual funds pulled money out of U.S. equity funds for the 17th consecutive month as they continued to seek the perceived safety of fixed income funds and other non-equity plays, according Morningstar.

Miami-based investment advisor Thomas J. Herzfeld Advisors has hired asset management and mutual fund industry veteran, Robert Adler as its head of distribution, a newly created position.

This year, investors are flocking to the fixed income market in droves as evidenced by weekly updates from the Lipper, which revealed that investors withdrew $2.4 billion from equity funds for the week ended Oct. 4 in search of a safe haven.

Northern Trust has promoted Darius Gill to managing director of the Foundation & Institutional Advisors group in the Central Region, which includes Illinois, Michigan, Minnesota, Ohio, Missouri and Wisconsin.

If Congress allows Bush-era tax cuts to expire next year, as many expect, planners everywhere must be aware of the “fiscal cliff” their clients will confront.

Rising interest in hedge fund-like mutual funds among advisors and investors have driven service providers and fund managers alike to adjust their businesses to account for legal and tax ramifications of serving and operating alternative mutual funds.

Rising interest in hedge fund-like mutual funds among advisors and investors have driven service providers and fund managers alike to adjust their businesses to account for legal and tax ramifications of serving and operating alternative mutual funds.

Consumers are increasingly going online to research insurance and annuity products, but the Internet is far from displacing insurance professionals from their roles.

Mutual funds experienced total estimated inflows of $2.05 billion for the week ended Wednesday, October 3, according to the Investment Company Institute.

PineBridge Investments is getting out of the mutual fund business.

For the week ended Oct. 3, investors yanked an estimated $10.6 billion from U.S. stock mutual funds, bringing total outflows for the year to more than $103 billion.

The Investment Company Institute’s Board of Governors has elected ICI Chairman Greg Johnson, president and chief executive officer, Franklin Resources, to serve an additional one-year term.

MainStay Investments earlier this month finalized the adoption of the MainStay Marketfield Fund (MFLDX; MFADX).

More than half (52%) of all institutional investors around the world plan to rethink over the next decade the traditional way they’ve always allocated the assets under their control, according to the results of a survey by Pyramis Global Advisors.

Small banks had total investment revenue of $266 million for the first half, up 11% over the same time period last year: report.

Wall Street executives show a more conservative outlook toward their investments, but a majority still avoid a financial advisor.

More than one-third of the nation’s largest pension plans and institutional investors believe that traditional investing approaches will not be effective in 10 years.

State Street Global Advisors—through SPDR ETFs, the firm’s exchange-traded funds platform— has launched the first ever ETF in Europe to track the S&P 500 Low Volatility Index.