Investments

In response to growing demand for international equity funds, RS Investments has launched two new global equity mutual funds, the RS Global Growth Fund and the RS Greater China Fund. Baillie Gifford Overseas will sub-advise the funds.

A new report released this week from the American Federation of State, County and Municipal Employees (AFSCME) claims that some of the largest mutual funds -- including Vanguard and BlackRock -- are guilty of rubber-stamping company-initiated, executive-compensation plans that are often out of whack with their companies' performance and therefore compromising shareholders' best interests in the process.

Russell Investments has launched a new suite of six exchange-traded funds, the Russell Investment Discipline ETFs, which focus on six investment styles commonly used by investment managers.

Global X Funds has launched the Global X Auto ETX (ticker: VROM), which will invest 76% of its portfolio in auto manufacturers and 26% in auto parts and equipment.

Variable annuities sales in 2011 climbed significantly in early 2011, continuing a trend begun last year, and reversing a slide that saw them fall from a high of $184 billion in 2007 to a low of $128 billion in 2009.

Investors redeem $950 million from equity funds.

LAS VEGAS - Could the United States be headed for another Great Depression?

Fidelity Investments has launched its first international high-yield fund, the Fidelity Global High Income Fund.

Taxable bond funds and exchange traded funds enjoyed another banner month in April, according to Morningstar's latest Direct Fund Flow Update, adding another $17.7 billion and $23.3 billion in inflows, respectively.

Mercer reports more searches for money managers globally.

LAS VEGAS - The federal budget deficit is estimated to skyrocket to $1.6 trillion in 2011, but Andrew H. Friedman of The Washington Update told a standing-room only crowd at the Investment Management Consultants Association's annual conference that there are still opportunities for investors.While the substantial deficit is here to stay, the $2 trillion in stimulus that has flooded the economy has made for huge growth in the stock market, Friedman explained. “We need to be careful what happens when the stimulus stops,” he added.

Managed Portfolio Advisors and Vestmark will provide overlay management.

One-third cites protecting principal as their primary goal.

The Financial Industry Regulatory Authority has fined Kane, McKenna Capital Inc. and Wulff, Hansen & Co. a total of $27,500 for municipal transaction disclosure and trade rule violations.

Global investors have tempered their optimism about the U.S. and world economies and plan to put less of their money in commodities and more into cash, a quarterly poll of 1,263 investors, analysts and traders who are Bloomberg subscribers found.

Edward Jones has added UMA Models to its advisory platform for its 12,000 advisers, Edward Jones Advisory Solutions.

The Bloomberg Consumer Comfort Index fell to -46.9 in the week ended May 8, as rising gas prices are making Americans worried about their personal finances. This was the index’s worst reading since March, Bloomberg said. The comfort index’s range is from -100 to +100.

Janus has launched the Janus Real Return Allocation Fund, which seeks to provide total returns in excess of the rate of inflation over a full market cycle. Janus will co-manage the fund with Armored Wolf.

Unified Managed Accounts skyrocketed over 100% in the last year, and at double the rate of any other segment, but they are still only 6% of the $2 trillion industry.

Reversing a trend of outflows, tax-exempt money market funds raked in $3.33 billion to end the week of May 9 with $309.95 billion in total net assets, according to the Money Fund Report, a service of iMoneyNet.com.