Mutual funds

Total money market mutual fund assets decreased by $1.38 billion to $2.562 trillion for the week ended Wednesday, October 10, according to the Investment Company Institute.

John Hancock Funds has unveiled a new 'Insights & Commentary' section on its website featuring commentary and thought leadership on topics ranging from alternative asset classes to the Eurozone debt crisis.

The Investment Company Institute has named former journalist Mike McNamee its chief public communications officer, responsible for all media and public relations, public policy writing, editorial, website, and design activities.

Old Mutual Asset Management, the US-based global asset management business of Old Mutual plc, has agreed to sell five of its US affiliates to their current senior management teams.

Total money market mutual fund assets decreased by $1.38 billion to $2.562 trillion for the week ended Wednesday, October 10, according to the Investment Company Institute.

Investors in U.S. mutual funds pulled money out of U.S. equity funds for the 17th consecutive month as they continued to seek the perceived safety of fixed income funds and other non-equity plays, according Morningstar.

Miami-based investment advisor Thomas J. Herzfeld Advisors has hired asset management and mutual fund industry veteran, Robert Adler as its head of distribution, a newly created position.

This year, investors are flocking to the fixed income market in droves as evidenced by weekly updates from the Lipper, which revealed that investors withdrew $2.4 billion from equity funds for the week ended Oct. 4 in search of a safe haven.

Northern Trust has promoted Darius Gill to managing director of the Foundation & Institutional Advisors group in the Central Region, which includes Illinois, Michigan, Minnesota, Ohio, Missouri and Wisconsin.

Rising interest in hedge fund-like mutual funds among advisors and investors have driven service providers and fund managers alike to adjust their businesses to account for legal and tax ramifications of serving and operating alternative mutual funds.

Mutual funds experienced total estimated inflows of $2.05 billion for the week ended Wednesday, October 3, according to the Investment Company Institute.

PineBridge Investments is getting out of the mutual fund business.

For the week ended Oct. 3, investors yanked an estimated $10.6 billion from U.S. stock mutual funds, bringing total outflows for the year to more than $103 billion.

The Investment Company Institute’s Board of Governors has elected ICI Chairman Greg Johnson, president and chief executive officer, Franklin Resources, to serve an additional one-year term.

MainStay Investments earlier this month finalized the adoption of the MainStay Marketfield Fund (MFLDX; MFADX).

More than half (52%) of all institutional investors around the world plan to rethink over the next decade the traditional way they’ve always allocated the assets under their control, according to the results of a survey by Pyramis Global Advisors.

State Street Global Advisors—through SPDR ETFs, the firm’s exchange-traded funds platform— has launched the first ever ETF in Europe to track the S&P 500 Low Volatility Index.

Eleven months ago, Pacific Investment Management renewed its contract with State Street to manage its investment operations, on an outsourced basis.

Curian Capital has hired Amy Temkin as vice president of strategic accounts to lead Curian’s Strategic Accounts team on driving sales and forming long-term strategic with broker-dealers.

ICI president and CEO Paul Schott Stevens and ICI Global Managing Director Dan Waters today fired back at IOSCO’s report on money market funds that includes a number of regulatory recommendations.