Mutual funds

Bank of New York Mellon, the world’s second- largest custody bank, reported a third-quarter profit that beat analysts’ estimates as the company cut expenses to offset the impact of lower interest rates.

Assets under management at Pimco in September experienced the smallest percentage drop since co-founder Bill Gross departed.

Navigate Fund Solutions has worked on two tracks to promote adoption of NextShares with asset managers and broker-dealers simultaneously. The firm is satisfied with its penetration into asset managers, with $600 billion in assets under management already.

Participants in the $23 trillion U.S. stock market have become more vocal about structural changes they’d like to see after the trading turmoil on Aug. 24.

When performing due diligence, retirement plan fiduciaries must be aware of new SEC rules for the money market funds included in their 401(k) investment lineups.

Bonds from California have returned 2.47% this year, about half a percentage point more than the overall muni market, according to S&P Dow Jones Indices.

Jeffrey Gundlach reached $50 billion in assets at his main mutual fund this week, the fastest an active stock or bond manager has achieved the milestone.

BlackRock’s revenue increased 2.1% to $2.91 billion from the same period last year as the firm brought money into most of its products.

BlackRock is rolling out its first impact-labeled U.S. mutual fund. In the nascent world of impact investing -- backing profitable companies trying to produce social and environmental good -- it is a milestone.

Investors added the most money to municipal bond mutual funds since January as state and local government bond yields fell to the lowest level in five months.

Promoting long-standing tax-managed funds to advisors will first require an educational effort about tax strategies on the part of asset managers.

Bill Gross claims he was wrongfully pushed out as the bond giant’s chief investment officer by a “cabal” of executives seeking a bigger slice of the bonus pool.

Fiduciary proposal opponents suggest that robo advisors may be unregistered investment companies, in violation of both the Investment Company Act of 1940 and SEC regulation.

Reflecting the global ambitions of Asian asset managers, South Korean-based Mirae Asset Management this summer quietly expanded its stateside presence, hiring four wholesalers across the country.

The world’s largest issuers of ETFs are holding talks with stock exchanges and market-makers to avoid a repeat of the issues that plagued ETFs during Aug. 24’s market turmoil, according to five people with direct knowledge of the matter.

John Brynjolfsson, the chief investment officer of Armored Wolf, said he is closing the money management firm to outside investors and converting it into a family office.

Only 10% of ETFs are in positive territory, after market selloffs in the U.S., Europe, and Asia, and a plunge in commodity prices.

One inevitable change caused by low-cost, online competition is how advisors will structure their compensation, said Brian Leitner, senior vice president of practice management at Mariner Wealth Advisors.

CSOP Asset Management lowered the fee on its first U.S. exchange-traded fund tracking Chinese stocks and plans to start two ETFs after an equity rout wiped out $5 trillion in market value.

The Federal Reserve’s first interest-rate increase in almost a decade can’t come soon enough for ETF providers such as WisdomTree Investments.