Mutual funds

A former Canadian “mutual fund” salesman has been banned for life from the industry and ordered to pay a fine of $6 million for stealing clients’ assets valued at some $12 million, the Globe and Mail reports.

The Wilmington Multi-Manager International Fund (GVIEX) has one less sub-advisor as of April 24.

401(k) plan participants paid less in mutual fund fees than the average investor industry last year, according to the Investment Company Institute’s latest report on the retirement space.

Schawb’s CEO Walt Bettinger sent clients a letter apologizing for the inconvenience caused by the company’s website outage Tuesday.

Invesco shareholders have approved the reorganization of three Invesco funds.

Total estimated inflows to long-term mutual funds were $3.66 billion for the week ended Wednesday, April 17, according to the Investment Company Institute.

Old Mutual Global Investors has restructured the Skandia US All Cap Value Fund as the Old Mutual US Dividend Fund.

William Blair & Company today unveiled the newest addition to its mutual fund family: the William Blair Global Small Cap Growth Fund.

During the week ended April 17, investors steered a paltry $3.66 billion into the funds, making it their most dismal week this year.

Total estimated inflows to long-term mutual funds were $3.66 billion for the week ended Wednesday, April 17, according to the Investment Company Institute.

Atlanta-based RidgeWorth Investments has hired Ian Bachrach to fill the role of Managing Director of Marketing, responsible for all aspects of RidgeWorth’s marketing.

Pacific Investment Management Co. is becoming less dependent on Bill Gross, preparing for an eventual future without the world’s best-known bond investor and adding pressure on its rising stars to live up to his legacy.

The Money Management Institute last night announced the winners of its 2013 Industry Leadership Awards at its Gateway to Leadership Dinner in New York City.

T. Rowe Price Group has no immediate plans to begin offering active exchange-traded funds, the Baltimore Business Journal reports.

A flood of traffic took down Charles Schwab & Co.’s website late Tuesday.

Executives at Waddell & Reed Financial have a few billion reasons to smile.

kasina’s new social media report ranks Vanguard, Sun Life, iShares, Putnam and Franklin Templeton Investments as the top five asset managers for social media practices.

Russell Golden was named as the next chairman of the Financial Accounting Standards Board, effective July 1, 2013.

Southwire Co., the privately-held wire and cable manufacturer, has asked a U.S. court to review a regulatory decision that cleared the way for BlackRock’s planned exchange-traded fund backed by copper.

The Securities and Exchange Commission yesterday announced that Acting Director George Canellos and former federal prosecutor Andrew Ceresney have been named Co-Directors of the Division of Enforcement.