Mutual funds

Blue Bell, PA-based wealth management shop Persimmon Capital Management has launched its first mutual fund, Persimmon Long/Short Fund (LSEAX), a multi-advisor mutual fund that employs long/short equity strategies. The fund started trading with $25 million of assets under management.

The US mutual fund industry is set to surpass $15 trillion in assets in February (open- and closed-end funds, and including exchange-traded funds), according to data from Strategic Insight.

Legg Mason Inc. (LM) named interim chief executive officer Joseph A. Sullivan as CEO, ending a five-month search for a leader to reverse five years of client redemptions and calm restive fund affiliates, according to a person familiar with the matter.

Expect drastic changes in the fund industry over the next half decade, says a new research report. 

Ari’s Next Move

Expect drastic changes in the fund industry over the next half decade, says a new research report. 

The old adage of ‘happy wife, happy life,” is ringing louder for Scott Simon, a managing director at Pacific Investment Management Co. who heads mortgage- and asset- backed securities investing.

MIAMI - Smartphone shipments began to outpace personal computer shipments in 2011. Now, more than 50 percent of mobile phone users are smartphone users.

Omaha, NE-based Tributary Capital Management is reshuffling its investment team on the heels of an impending resignation.

American poitics have entered an “era of bad will,’’ said former White House press secretary Ari Fleischer. Nothing will happen of note on the federal budget until after the next Congressional elections, he forecast.

Schooner Investment Group, the investment adviser to the Schooner Global Absolute Return Fund, is liquidating the alternative mutual fund on March 13, according to a regulatory filing.

The SEC mandated a series of money market mutual fund reforms in 2010. Then, Mary Schapiro pushed for more reform in her last two years in office. Now, the Financial Stability Oversight Council has taken up the light sabre. But don’t worry, says Tim Johnson, partner in the Financial Industry Group at Reed Smith, a fund industry law firm.

First Trust Advisors has launched a new actively managed exchange-traded fund to bet on preferred securities and income-producing debt securities, including corporate bonds, high-yield securities and convertible securities.

Target-date funds have an “implicit guarantee” to deliver a particular return by a particular time. Are the funds being marketed responsibly?

The time to help a customer understand the risk in a set of holdings is before a shock hits the market. Here’s how.

Market Vectors has launched the Market Vectors BDC Income ETF.

PIMCO today is launching the PIMCO Foreign Currency Strategy Exchange Traded Fund (FORX) to bet on fundamental changes in global currency markets.

Who's got the best mutual fund family of 2012? A family that pretty much flamed out in 2011.

After less than a year of striking out on its own, Pyxis Capital is right back to where it started.

Veteran portfolio manager Jeffrey Knight, who recently left Putnam Investments, has turned up at Columbia Management as Head of Global Asset Allocation.