Mutual funds

For the week ended August 22, investors pulled an estimated $4.48 billion from U.S. mutual funds, substantially more than the $2.72 billion they withdrew the week before.

On the heels of hiring a new chief marketer, Forward is embarking on a marketing campaign this fall to spread the word about its alternative mutual fund products

The former CFO and Treasurer of Legg Mason’s fixed income funds has been barred from the securities industry for altering books and records of one of the funds.

Fidelity Investments resolved the long-running question over its succession plan by naming Abigail P. Johnson president, putting the daughter of Chairman Edward C. "Ned" Johnson III in charge of the key businesses at the second-largest mutual-fund company in the U.S.

Federated Investors has tapped Craig Bingham to lead the firm’s new Asia Pacific subsidiary and is opening an office in Melbourne, Australia.

Commissioners Daniel M. Gallagher and Troy A. Paredes say proposed reforms to money funds “were unlikely to be effective.’’

Fidelity Investments today named Abigail Johnson president of Fidelity Financial Services, consolidating all of the company’s core businesses under her leadership.

Global exchange-traded fund assets have increased by 13.9% from $1.35 trillion to $1.54 trillion year-to-date, through the end of July 2012.

With a new head of research on board, Lipper announced a new set of initiatives for the second half of 2012 that involves building out research and analytical tools.

Van Eck Global is prepping to launch the Market Vectors Short High-Yield Municipal Index ETF, which will replicate the Short High Yield Index, according to a Securities and Exchange filing.

The Board of Trustees of Rydex Series Funds has approved a revision of the principal investment strategies for the Trust’s Managed Futures Strategy Fund.

Rydex is nixing its Long Short Equity Strategy Fund because of “unfavorable market conditions,” according to a Securities and Exchange Commission filing.

Forward has hired a new marketing chief in light of the defection of former president Jeff Cusack to Nuveen Investments.

T. Rowe. Price has opened a newly relocated investor center in downtown Washington, D.C., the Washington Business Journal reports.

Manning and Napier have rolled out the Strategic Income Conservative Series and Strategic Income Moderate Series that will target income-producing securities.

John Hancock Financial, the U.S. division of Manulife Financial Corp., has named Kevin Cloherty Senior Vice President and Global Compliance Chief.

Total managed solutions assets ended the second quarter at $2.5 trillion, a decline of $600 million or less than 0.1% from the first quarter, according to data from The Money Management Institute.

Fidelity Investments is planning to fold its Fidelity Advisor Stock Selector Mid Cap Fund in the Fidelity Advisor Growth Strategies Fund.

Forward’s former president Jeff Cusack has taken a new job with rival alternative mutual fund ship Nuveen Investments.

Fidelity Investments is planning to fold its Fidelity Advisor Stock Selector Mid Cap Fund in the Fidelity Advisor Growth Strategies Fund.