Mutual funds

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.

Money Fund Reform Drops Dead

Here is the text of the statement by Securities and Exchange Commission Chairman Mary Schapiro on money market mutual fund reform

Investors last week pulled an estimated $2.67 billion from U.S. stock funds, down from $3.56 billion the prior week and half that two weeks earlier.

For the week ended Aug. 15, investors pulled an estimated $2.67 billion from funds that invest in U.S. stock mutual funds, substantially less than the $3.56 billion withdrawn the week before.

Heavy lobbying continues in the lead-up to what some expect will be an Aug. 29 SEC vote on controversial money market reforms.

Two trade groups for corporate treasurers have sounded the alarm about proposed reforms of money market funds, warning that proposed regulations could reduce large companies' financing options - and add to their dependence on megabanks.

Jensen Investment Management has hired Gabe Goddard as chief compliance officer and counsel.

Index funds are "just slightly underperforming" their benchmarks because of their small expenses, according to a Lipper report.

The measure of success for Christopher Donahue's defense? That the SEC so far this year has not sought a showdown on reform.

With the departure of Peter Ehret, formerly a senior money manager at Invesco, the firm announced a number of changes to its portfolio manager lineup.

Hatteras Funds has promoted Robert Murphy chief investment officer of the Hatteras Alternative Mutual Funds.

Index funds are “just slightly underperforming” their benchmarks because of their small expenses, according to a Lipper report.

Nasdaq OMX Group said it plans to launch 150,000 indexes by the end of next year. The firm will raise redefine 'real-time" to feature tick by tick updating of index values

Columbia Management is planning to further expand into the actively managed ETF space with 17 new ETFs.

The Securities and Exchange Board of India is preparing to take a number of steps to reenergize the mutual fund industry in India.

Principal Funds has rolled out the Principal Opportunistic Municipal Fund, which can invest across a broad range of credit qualities, durations and geographic exposures.

Municipal debt funds stayed on track for the 18th consecutive week of net inflows, this time for $0.9 billion.

SS&C has consolidated its fund administration and Portia portfolio investment accounting system businesses in a single business unit renamed SS&C GlobeOp.