Investments

Neuberger Berman Group has launched the Neuberger Berman Flexible Select Fund (NFLIX, NFLAX, NFLCX) to bet on The Fund will invest in the equity, fixed income and cash equivalent assets classes.

For the second consecutive week equity exchange-traded funds experienced net outflows, handing back some $2.8 billion, while their conventional mutual fund brethren took in $0.5 billion—for their twenty-second consecutive week of net inflows, according to Lipper data.

Active exchange-traded fund provider AdvisorShares is closing the AdvisorShares Rockledge SectorSAM ETF (SSAM) on June 21. The fund investing primarily in both long and short positions in U.S. sector ETFs.

Payden & Rygel is looking to tap into the broker dealer channel with a new partnership.

Following the announcement of John Hallacy's departure from Bank of America Merrill Lynch, sources confirmed that Phil Fischer will step in to lead the group this month.

Muni money funds continue to struggle to recoup the billions they lost this year — particulary around income tax season — and the arrival this week of $411 million is not much of a boost.

U.S. bond funds suffered their second-worst withdrawals last week in more than two decades after speculation about an eventual end to the Federal Reserve’s bond purchases sent fixed-income markets lower.

Defined contribution retirement plans could improve their risk-adjusted returns by broadening their investment options, according to a BNY Mellon report.

NICSA and Money Management Executive announce the opening of nominations for the 2013 NOVA Awards program recognizing outstanding service, leadership and innovation inside asset management firms.

New York-based Gerstein Fisher has launched the Gerstein Fisher Multi-Factor Global Real Estate Securities Fund (GFMRX) to make bets on real estate investment trusts and other related securities.

Legg Mason has added John Murphy and John Myers to its Board of Directors, effective immediately. Murphy was appointed to the Audit and Compensation Committees and Myers was appointed to the Nominating & Corporate Governance and Risk Committees.

Payden & Rygel is looking to tap into the broker dealer channel with a new partnership.

Is Legg Mason leaning towards making a run at private equity?

A new survey by Ceres, an advocate for sustainability leadership, gives a pat on the back to three fund companies for supporting the majority of shareholder resolutions filed with companies on climate change and a slap on the hand to six others for not supporting a single resolution.

Although many in the industry have tipped active exchange-traded funds as the breakthrough product of 2013, this may be wishful thinking, according to a new study by Cerulli Associates.

Separately managed accounts and alternative funds are poised for growth and fund firms need to be on top of their social media game to participate in the growing mutual fund space, according to a new report by Curian Capital.

Exchange-traded funds gathered record net inflows of $107 billion through the end of May 2013, which is 31% higher than the $82 billion in net flows at this time in 2012, according to data from ETGI.

John Hancock has implemented new breakpoints for three mutual funds, effective June 1.

Total estimated inflows to long-term mutual funds were $1.48 billion for the week ended Wednesday, May 29, according to the Investment Company Institute.

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