Mutual funds

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.

Pyramis Global Advisors, the institutional asset management arm of Fidelity Investments, has expanded its global distribution leadership team with the additions of Maureen Fitzgerald as head of North American Institutional Distribution, a newly created position.

Calamos Investments this week welcomed an old foe into its fold.

SEC Commissioner Luis A. Aguilar said that the agency should look at the “cash management industry as a whole” instead of zeroing in only on money market funds.

Plan participants who pick their own mix of investment options are generally exposed to greater risk due to reduced diversification, according to The Principal.

After a large inflow the previous week, assets held in institutional money market funds decreased by $1.06 billion to $1.686 trillion for the week ending Aug. 22.

Municipal bond mutual funds saw inflows fall by more than half the previous week's amount, dropping for the second straight week. But they've thus far remained positive through the summer lull at $436 million for the week ended Aug. 22.

After a large inflow for the previous week, assets of institutional money market funds decreased by $1.06 billion to $1.686 trillion for the week ending Aug. 22.

John Hancock Financial, the U.S. division of Manulife Financial Corp., has named James D. Gallagher as executive vice president, general counsel and chief administrative officer.

The Investment Company Institute, which lobbied heavily against money market regulatory changes that were supported by Securities and Exchange Commission Chairman Mary Schapiro, said it was “pleased” that the commission was dropping its plans to pursue those changes.

Plan participants who pick their own mix of investment options are generally exposed to greater risk due to reduced diversification, according to The Principal.