Investments

Schroders, the $359.2 billion global asset manager, has added four new mutual funds its investment lineup for the U.S. market.

It looks like Nationwide Mutual Insurance Company will have its day in court come January 2014 to defend itself against a mutual fund lawsuit.

Once lost, a reputation is hard to regain, and it’s costing financial services companies hundreds of millions in sales.

Assets of all exchange-traded funds rose in May by $12.14 billion to $1.481 trillion, according to the Investment Company Institute. Over the past 12 months, ETF assets rose $365.27 billion, or 32.7%.

The Senate Finance Committee's top two tax writers asked their 98 colleagues on Thursday to submit detailed proposals justifying which tax breaks should be kept in the code as they move forward on comprehensive tax reform.

Tax-exempt money market funds had outflows of $314.7 million in the week ended June 24, decreasing total net assets to $261.48 billion, according to The Money Fund Report, a service of iMoneyNet.com.

Municipal bond mutual funds that report flows weekly recorded $4.53 billion in outflows for the week of June 26, Lipper FMI numbers showed, after $2.22 billion of outflows reported the previous week.

Investors overreacted to Federal Reserve Chairman Ben S. Bernanke’s comments that the central bank could reduce monthly bond purchases, Goldman Sachs Group Inc. Chief Executive Officer Lloyd C. Blankfein said.

Bond managers from DoubleLine Capital LP’s Jeffrey Gundlach to Pacific Investment Management Co.’s Bill Gross are telling investors the worst may be over for Treasury bonds after 10-year yields rose to a 22-month high.

Hartford Financial Services Group Inc. agreed to sell its U.K. variable-annuity business to Berkshire Hathaway Inc. for about $285 million in cash.

Hartford Funds has appointed three new advisor consultants to support its regional growth.

OppenheimerFunds, the U.S. investment fund that manages about $208 billion, has sued Doux SA in New York, claiming it’s owed almost $74 million by the French poultry producer placed under administration.

Last year, global asset managers experienced their highest operating margins since 2007, according to a new survey by consultant Casey Quirk and research shop McLagan.

With a new managed accounts platform, Merrill Lynch advisors will be able to turn to one website instead of five to answer a single client question – “How am I doing?”

It’s not all good news on Wall Street these days.

Assets of all exchange-traded funds rose in May by $12.14 billion to $1.481 trillion, according to the Investment Company Institute. Over the past 12 months, ETF assets rose $365.27 billion, or 32.7%.

Bond yields and risk spreads were too low two months ago and global markets that were too levered are now derisking, according to Bill Gross, manager of the world’s largest mutual fund at Pacific Investment Management Co.

During the week ended June 19, investors yanked an estimated $7.97 billion from taxable and municipal bond funds.

Mutual funds gave back $5.43 billion for the week ended Wednesday, June 19, according to the Investment Company Institute.

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