Mutual funds

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.

ETF flows topped $17 billion in May with the large cap category leading the way taking in $5.4 billion in flows, according to State Street Global Advisors’ latest ETF SNAPSHOT: May 2013.

The TCW Group has expanded its distribution efforts in Europe and Asia, with the opening of new TCW offices in Paris and Hong Kong.

Walt Bettinger, president and chief executive officer of Charles Schwab & Co., officially joined Twitter last week.

The Driehaus Large Cap Growth Fund (DRLGX) is closing to new investors on June 11 and will liquidate on July 19, according to a regulatory filing.

The Securities and Exchange Commission last week unveiled its money market fund proposals that, in part, seem to have won the support of its biggest critic: the Investment Company Institute.

For the second consecutive week, equity exchange-traded funds experienced net outflows, handing back some $2.8 billion, while conventional mutual fund took in $500 million.

Investors pulled more money from municipal bond mutual funds than they have all year as funds that report flows weekly recorded outflows of $1.47 billion for the week ending June 5.

ProShares has added Ramesh Babu as chief technology officer and William Poulin as head of product management.

The Wilmington Rock Maple Alternatives Fund (WRAIX) is making due with one less advisor starting today.

Portland, Ore. and Omaha, Neb.-based FolioMetrix has renamed its FMX retail mutual fund family the RiskX funds “in favor of something that better reflects what the company does,” according to the firm.

New York-based W.P. Stewart & Co. has hired Michael Maquet as chief executive officer, effective June 10.

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.

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.

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.