Investments

Two wealth management giants, JPMorgan and Wells Fargo, kicked off the second quarter with record earnings despite market and interest rate volatility.

Investors withdrew $43.8 billion from taxable-bond funds and $16.4 billion from municipal-bond funds, making June the worst month on record for bond funds in terms of total outflows, according to Morningstar.

Global assets under management are set to cross the $70.4 trillion mark by the end of 2013, an increase of $20 trillion from 2008, according to new findings from Cerulli Associates.

U.S. fixed-income mutual funds attracted investor deposits last week, rebounding from redemptions spurred by speculation that the Federal Reserve would scale back its unprecedented stimulus, while bond exchange-traded funds had withdrawals.

Over the past decade, firms offering clients their own investment products increasingly lost ground to those recommending an open architecture array of investment options from outside managers, but there has been a recent resurgence in proprietary management among wealth managers.

A majority of asset managers said the Federal Reserve’s recent decision to slow the pace of its bond buys will lead to higher interest rates in the next three months, according to a quarterly survey of investment managers by Northern Trust.

Mutual fund liquidations have risen within the first six months of 2013 compared to the same period last year.

Municipal bond fund outflows for the week of July 10 rose to $1.2 billion from $870 million the prior week.

Last month, State Street Global Advisors revealed numerous changes meant to modify its core teams in the traditional asset space.

Mutual fund liquidations have risen within the first six months of 2013 compared to the same period last year.

Money market mutual funds gathered $23.82 billion for the week ended Wednesday, July 10, increasing their overall assets to $2.620 trillion, according to the Investment Company Institute.

The Hartford is liquidating its Money Market Fund on September 27, according to the firm.

A majority of asset managers said the Federal Reserve’s recent decision to slow the pace of its bond buys will lead to higher interest rates in the next three months, according to a quarterly survey of investment managers by Northern Trust.

REITs “have been one of, if not the biggest contributors” to the underperformance and volatility in mortgage bonds, said Bryan Whalen, co-head of mortgage bonds at Los Angeles-based TCW Group Inc., which oversees about $131 billion of assets.

Investment pitches by entrepreneurs and hedge funds may get a higher public profile on television, through social media and even at sporting events following the lifting of an 80-year-old rule by U.S. securities regulators.

Mutual funds had outflows of $4.89 billion for week ended Tuesday, July 2, according to the Investment Company Institute.

Dozens of lawmakers are urging House leaders to reject proposals to eliminate or cap the exclusion for tax-exempt bonds.

Following last month's historic sell-off, the municipal market offers solid fundamentals and the most compelling value since 2011, additionally bolstered by the strong demand from July and August reinvestments and the demand from crossover buyers, BlackRock Inc. said in its July municipal report.

F-Squared Investments has appointed Paul Gamble as head of F-Squared Retirement Solutions, responsible for F-Squared's customized and private labeled target date strategies and funds, collective trust funds and sub-advisory partnerships in the retirement market.

Nuveen Asset Management’s Chief Equity Strategist and Senior Portfolio Manager Bob Doll is taking on a new slate of funds including traditional, specialty, and alternative funds.