Investments

New York-based Drexel Hamilton Investment Partners, the investment adviser for each of Drexel Hamilton 8IP Asia Pacific Equity Fund and the Drexel Hamilton FOUR European Equity Fund, this week decided to liquidate the two mutual funds.

Investment advisory shop Arnerich Massena has promoted Scott Dunbar to managing director of advisory services.

The former CFO and Treasurer of Legg Mason's fixed income funds has been barred from the securities industry for altering books and records of one of the funds.

Loomis, Sayles & Company is closing its Loomis Sayles Small Cap Growth Fund to new investors on Sept. 14.

The tax-exempt market ended flat to slightly stronger Wednesday continuing a week-long trend of muni yields following Treasury yields lower.

A computer application deployed by the Charles Schwab Corporation that supported day trading online has flagged “cherry picking” of profitable trades by a Connecticut financial advisor

For the week ended August 22, investors pulled an estimated $4.48 billion from U.S. mutual funds, substantially more than the $2.72 billion they withdrew the week before.

Loomis, Sayles & Company is closing its Loomis Sayles Small Cap Growth Fund (LCGRX) to new investors on September 14.

For the week ended August 22, investors pulled an estimated $4.48 billion from U.S. mutual funds, substantially more than the $2.72 billion they withdrew the week before.

On the heels of hiring a new chief marketer, Forward is embarking on a marketing campaign this fall to spread the word about its alternative mutual fund products

The former CFO and Treasurer of Legg Mason’s fixed income funds has been barred from the securities industry for altering books and records of one of the funds.

Alternative investments should comprise as much as 20%, 30% or even 50% of a client's portfolio, according to an online panel of analysts and portfolio managers hosted by Envestnet.

Fidelity Investments resolved the long-running question over its succession plan by naming Abigail P. Johnson president, putting the daughter of Chairman Edward C. "Ned" Johnson III in charge of the key businesses at the second-largest mutual-fund company in the U.S.

Federated Investors has tapped Craig Bingham to lead the firm’s new Asia Pacific subsidiary and is opening an office in Melbourne, Australia.

North America led the drop in global confidence, falling 8.7 points to 84.4.

With a new head of research on board, Lipper announced a new set of initiatives for the second half of 2012 that involves building out research and analytical tools.

Global exchange-traded fund assets have increased by 13.9% from $1.35 trillion to $1.54 trillion year-to-date, through the end of July 2012.

The tax-exempt market posted a sixth consecutive trading session of gains on Tuesday as demand has outweighed supply in the muni market this week, and prices are following Treasuries higher.

Commissioners Daniel M. Gallagher and Troy A. Paredes say proposed reforms to money funds “were unlikely to be effective.’’

The Dow Jones Industrial Average shed 21.68 points Tuesday to finish at 13,102.99. The S&P 500 fell 1.14 points to end at 1,409.30 and the Nasdaq rose 3.95 points to close at 3,077.14.