Mutual funds

BNY Mellon has been appointed as the successor depositary bank for the Global Depositary Receipt (GDR) program of JSC Federal Grid Company of Unified Energy System. Each Federal Grid Company GDR represents 500 ordinary shares and trades on the London Stock Exchange under the symbol "FEES." Federal Grid Company's ordinary shares trade on the Moscow Exchange under the symbol "FEES."

A Texas man has been accused by regulators of running a Ponzi scheme involving the digital currency Bitcoin. The Securities and Exchange Commission charged Trendon Shavers with defrauding investors of nearly $150,000 worth of bitcoins through Bitcoin Savings and Trust, an online investment scheme he ran, and of making false claims while soliciting investments online in 2011 and 2012.

Financial advisors across the spectrum-at registered investment advisors, wirehouses and independent broker-dealers-are at a loss when it comes to understanding liquidity of exchange-traded funds, according to new research from Cerulli Associates.

Demographics have led to desperation, and the next steps on that path have been towards the rich recruiting bonuses offered by wirehouses to productive advisors. Those tempting payments aren’t going away, but further improvements are “highly unlikely,” according to Mark Elzweig, who heads a New York-based executive search firm focusing on the asset management community.

Bloomberg — Herbert Allison Jr., the onetime president of Merrill Lynch & Co. who oversaw the U.S. government’s bank-bailout program following the financial crisis that led to his former company becoming a unit of Bank of America Corp., has died. He was 69.

Participants in the 2013 CFO Outlook Mid-Year Update gave the U.S. economy an average score of 58 out of 100. This figure was up f rom 49 in the last survey conducted late last year. The global economy received a score of 51, up from 45.

Earlier this month, Nuveen Asset Management revealed that its Chief Equity Strategist and Senior Portfolio Manager Bob Doll will be taking on a new slate of equity funds including traditional, specialty and alternative funds.

Over the past two decades, investors have paid less and less to own shares of mutual funds. That's because investors demand low-cost funds, and because the fund industry is one characterized by competition, innovation, and economies of scale.

The Securities and Exchange Commission together with financial regulators of the member states of the European Union (EU) and the European Economic Area (EEA) have established supervisory arrangements. This comes as part of a long-term strategy to improve the oversight of certain entities in the asset management industry that operate across national borders.

The newly released 2013 Responsible Investment Report highlights TIAA-CREF’s responsible investment strategies throughout the asset classes in which it invests. The report also points out the company’s socially responsible investing portfolios.

Over the past two decades, investors have paid less and less to own shares of mutual funds. That's because investors demand low-cost funds, and because the fund industry is one characterized by competition, innovation, and economies of scale.

TrimTabs Investment Research reported that U.S. equity mutual funds and exchange-traded funds gathered $34.4 billion in July through Wednesday, July 17, which is the second-highest inflow on record, according to the Sausalito, Calif.-based research shop.

Heavy outflows, at $1.56 billion, endure for municipal bond mutual funds as investor demand for tax-exempts continues to flag.

Over the past two decades, investors have paid less and less to own shares of mutual funds. That's because investors demand low-cost funds, and because the fund industry is one characterized by competition, innovation, and economies of scale.

Earlier this month, Nuveen Asset Management revealed that its Chief Equity Strategist and Senior Portfolio Manager Bob Doll will be taking on a new slate of equity funds including traditional, specialty and alternative funds.

INTECH Investment Management, an independently managed subsidiary of Janus Capital Group, has hired Phillip Leonardi to head of the firm's consultant relations team.

TrimTabs Investment Research reported today that U.S. equity mutual funds and exchange-traded funds gathered $34.4 billion in July through Wednesday, July 17, which is the second-highest inflow on record, according to the Sausalito, Calif.-based research shop.

Crisis and business continuity planning have been given a renewed focus in recent years as man-made and natural disasters have increased in both frequency and severity.

One service provider is looking to take advantage of the migration of hedge funds into the mutual funds space by offering its hedge fund clients its Investment Company Compliance Services offering.

Neuberger Berman Group has launched the Neuberger Berman Greater China Equity Fund (NCEAX, NCECX, NCEIX), a mutual fund for U.S. investors investing primarily in equity securities of issuers based in mainland China, Hong Kong, Taiwan, and Macau.