Mutual funds

Money market mutual fund assets increased by $8.53 billion to $2.632 trillion for the week ended July 17, according to the Investment Company Institute.

Municipal bond mutual funds continue to hemorrhage money as investor demand remains low.

Money market mutual fund assets increased by $8.53 billion to $2.632 trillion for the week ended Wednesday, July 17, according to the Investment Company Institute.

BlackRock said second-quarter profit climbed 32% as rising stock markets boosted fees.

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.

Direxion today announced that the Direxion Indexed Managed Futures Strategy Fund (DXMAX) has gathered more than $100 million in assets under management since launching in February 2012.

PIMCO last month teamed up with product and technology platform provider Aria Retirement Solutions and insurer Transamerica Advisors Life Insurance Company to market contingent deferred annuities to asset-based fee-only registered investment advisors.

Broadridge Financial Solutions today announced the closing of its acquisition of Bonaire Software Solutions, a provider of fee calculation, billing, and revenue and expense management solutions for institutional asset managers, wealth managers, mutual funds, bank trusts and hedge funds

Inflows to long-term mutual funds were $1.28 billion for the eight-day period ending Wednesday, July 10, according to the Investment Company Institute.

Guggenheim Investments has launched two new BulletShares ETFs: Guggenheim BulletShares 2021 Corporate Bond ETF (BSCL) and Guggenheim BulletShares 2022 Corporate Bond ETF (BSCM).

Starting in January 2014, 51% of retirement plan sponsors will change their investment lineups, paving the way for more mutual funds to fill their needs, according to a Cogent Research study.

Smead Capital Management has announced that its Smead Value Fund (SMVLX, SMVMX) recently gathered $100 million on its way to $400 million in assets under management, as a result of partnerships with RIA’s and brokerage firms.

Highland Capital Management has hired six regional sales directors in the Pacific Northwest, Florida, North Texas, Long Island, the Midwest and Southeast, and expanded its sales team at its home office in Dallas.

M.D. Sass is looking to build out its fledgling mutual fund family with the launch of the M.D. Sass Equity Income Plus Fund (MDEIX, MDEPX), which bets on a diversified portfolio of dividend paying common stocks.

Blackstone Group, the world’s biggest manager of alternative assets, is starting a mutual fund that will invest in hedge funds, part of an industrywide push to attract assets from individual investors.

Citi has been appointed by Mirae Asset Global Investments to provide fund administration, custody and index receipt services for a new exchange-traded fund platform in the U.S. under the Horizons brand.

USAA Investments has added two new mutual funds to its lineup.

Bond funds netted redemptions of $59 billion (excluding exchange-traded funds) last month, according to Strategic Insight.

Exchange-traded funds that made bets on the gold sector were punished in the first half of the year with poor returns and redemptions amid a two-year low in price for the precious metal.

Exchange-traded fund risks and the use of ETFs in portfolio construction were ranked as the top two topics that advisors understood the best, according to new findings from Cerulli Associates.