Mutual funds

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.

Legg Mason has added John Murphy and John Myers to its Board of Directors, effective immediately. Murphy was appointed to the Audit and Compensation Committees and Myers was appointed to the Nominating & Corporate Governance and Risk Committees.

Payden & Rygel is looking to tap into the broker dealer channel with a new partnership.

Is Legg Mason leaning towards making a run at private equity?

A new survey by Ceres, an advocate for sustainability leadership, gives a pat on the back to three fund companies for supporting the majority of shareholder resolutions filed with companies on climate change and a slap on the hand to six others for not supporting a single resolution.

John Hancock has implemented new breakpoints for three mutual funds, effective June 1.

Total estimated inflows to long-term mutual funds were $1.48 billion for the week ended Wednesday, May 29, according to the Investment Company Institute.

Exchange-traded funds gathered record net inflows of $107 billion through the end of May 2013, which is 31% higher than the $82 billion in net flows at this time in 2012, according to data from ETGI.

The Securities and Exchange Commission on Wednesday unanimously agreed to propose reforms for money market funds to make them less susceptible to runs, such as those that occurred in 2008 when Reserve Primary Fund "broke the buck" and investors pulled $300 billion from other prime money market funds.

Separately managed accounts and alternative funds are poised for growth and fund firms need to be on top of their social media game to participate in the growing mutual fund space, according to a new report by Curian Capital.

Although many in the industry have tipped active exchange-traded funds as the breakthrough product of 2013, this may be wishful thinking, according to a new study by Cerulli Associates.

Mutual funds firms are no longer novices at harnessing the marketing potential of Facebook and Twitter, and have, at least incrementally, been learning to successfully reach investors through social media channels.

In an environment of transparency and volatile capital markets, you would think exchange-traded fund vehicles would hold more of a percentage in the $3.6 trillion retirement plan marketplace.