Mutual funds

The USAA Nasdaq 100 Index Fund (USNQX) has made its way onto the T. Rowe Price retirement platform, Money Management Executive has learned.

During the week ended June 5, investors yanked an estimated $11.53 billion from virtually all categories of long-term funds, giving them their first weekly outflow this year.

A new Portland, Ore.-based investment shop has bagged its first sub-advisory mandate courtesy of its affiliate.

Investors redeemed $11.53 billion from mutual funds for the week ended Wednesday, June 5, according to the Investment Company Institute.

Bloomfield Hills, Mich.-based Ave Maria Mutual Funds, which markets itself as “the largest family of Catholic mutual funds in the U.S.,” today announced that it now manages more than $1 billion in assets.

New York-based Loeb & King Capital Management has filed with the Securities and Exchange Commission to launch the Loeb & King Alternative Solutions Fund, a multi-strategy alternative offering.

Last year, 36% of all participants in 401(k) retirement plans at Vanguard invested their plan assets in a professionally managed investment option, more than doubled from 17% at the end of 2007, according to the Valley Forge, Penn.-based firm.

Buyer beware! The Financial Industry Regulatory Authority today issued an investor alert regarding the burgeoning alternative mutual fund asset class.

Despite challenges, wirehouses are still the most attractive distribution opportunity for product manufacturers, according to Boston-based global analytics firm Cerulli Associates.

Huntington, NY-based Catalyst Capital Advisors has added George Amrhein as Director of Business Development to build upon the firm’s key distribution relationships and manage the continued expansion of its lineup of mutual funds.

Nuveen Investments is currently prepping the Nuveen Global Tactical Opportunities Plus Fund to launch within the next few months, according to a regulatory filing.

San Francisco-based Forward Funds is once again looking to scale down its alternative mutual fund offerings liquidating.

RidgeWorth Investments is beefing up its sales team with the addition of Christopher Danos, Scott Goldberg and Mallory Carr.

John Hancock has agreed to acquire Bellevue, Wash.-based Symetra Investment Services from Symetra Financial Corporation.

Huntington, NY-based Catalyst Capital Advisors has added George Amrhein as Director of Business Development to build upon the firm’s key distribution relationships and manage the continued expansion of its lineup of mutual funds.

Santa Fe, N.M.-based Thornburg Investment Management, a $87 billion asset manager, has established an office in London, first overseas office opened by U.S.-based TIM.

Athens, Ga.-based Stadion Money Management’s family of actively managed risk-based and target date retirement funds have found a new home on the Mid Atlantic Trust Company’s platform.

Prudential Real Estate Investors has added Michael Gallagher as a director and portfolio manager to its global real estate securities team.

Beijing, China-Harvest Fund Management is taking a stab at the U.S. market with the launch of New York-based Harvest Krane, which will distribute China and Asia-focused mutual funds to institutional and retail investors in the U.S.

BTS Asset Management announced today the conversion of the BTS Tactical Fixed Income Fund (BTFAX, BTFCX) from a hedge fund to a 1940 Act mutual fund. The Tactical Fixed Income Fund.