Mutual funds

Total estimated outflows from long-term mutual funds were $4.49 billion for the week ended Wednesday, December 19, according to data from the Investment Company Institute.

The Financial Industry Regulatory Authority has ordered Pruco Securities, a securities broker-dealer owned by Prudential Financial, to pay more than $10.7 million to customers who placed mutual fund orders via facsimile or mail and received an inferior price for their shares.

Base salaries for hedge fund and mutual fund managers are projected to increase 3.5% and incentive pay is projected to rise by 0-10% from 2011 to 2012, according to a new study from Greenwich Associates and Johnson Associates.

State Street Global Advisors is currently prepping three new exchange-traded funds to add to its lineup.

Defined contribution plan sponsors were hit with a number of initiatives this year including fulfilling the Department of Labor’s fee requirements and weighing the pros and cons of retirement income products.

Eagle Asset Management today announced that it has completed the purchase of a 45% ownership stake in San Diego-based ClariVest Asset Management.

Goldman Sachs Asset Management is currently prepping an alternative mutual multi-manager fund to launch in 2013.

So what are three elements that are going to shape the mutual fund landscape in 2013? The answer lies in regulation, exchange-traded funds and operational outsourcing, according to a report from Deloitte.

Aston Asset Management has fired Todd-Veredus Asset Management, the subadvisor to two of the firm's small-cap funds, Morningstar reports.

Two Roads Shared Trust last week revealed in a Securities and Exchange Commission filing what it alluded to in a press release earlier this month.

Oppenheimer Funds’ New York Board has added two new members to its roster in the form of Joanne Pace and Admiral Edmund Giambastiani, Jr.

So what are three elements that are going to shape the mutual fund landscape in 2013?

The Securities and Exchange Commission last week barred an Arizona-based mutual fund manager from the securities industry for failing to follow his own prospectus, which led to his fund’s collapse.

ALPS last week unveiled its exchange-traded fund joint venture with Goldman Sachs in the form of four new ETFs.

Samson Capital Advisors has launched its maiden mutual fund, a currency offering dubbed the Samson STRONG Nations Currency Fund.

The U.S. News & World Report today named its mutual fund winners for 2012, including a once-fallen star manager and a mutual fund trade group.

The combined assets of the nation’s exchange-traded funds rose in November by $26.06 billion, or 2.1%, to $1.295 trillion.in November, according to data from the Investment Company Institute.

Legg Mason Global Asset Management last month teamed up with Brandywine Global Investment Management to launch the Legg Mason BW Global High Yield Fund.

Exchange-traded funds have had a banner year, reaching a new peak of $1.7 trillion in assets held, at the end of November.

While the bloom is still on the alternative mutual fund rose, 2012 hasn't been as kind to alternatives as in years past.