Mutual funds

On August 6, 2012, Chairman Mary Schapiro said she is asking SEC staff to propose a rule that will require exchanges and market centers to ensure the capacity and integrity of the systems they operate.

The investors who bailed out Knight Capital Group Inc. by purchasing $400 million in convertible securities are gaining control of the biggest trading partner for individuals in the world’s largest stock market.

On August 6, 2012, The Board of Trustees of the Direxion Shares ETF Trust has decided to liquidate and shutter nine exchange-traded funds due to the funds’ inability to attract sufficient investment assets.

On August 6, 2012, Since the Reserve Primary Fund broke the buck in September 2008, the nation's money market mutual funds have seen a long, steady erosion of their use by corporations and financial institutions.

Investors steered an estimated $17.1 billion into exchange-traded funds and notes in July, bringing their total investment in the products to $93 billion for the year, according to the latest data from the ETF Industry Association.

On August 3, 2012, An arbitration panel has struck down an investor’s $1 million-plus claim against Morgan Keegan’s troubled bond funds, citing the standard industry warning “Past performance is not guarantee of future results.”

On August 3, 2012, Fidelity Investments is reportedly gearing up to make a run at the active exchange-traded fund space, Bloomberg News reports.

On August 3, 2012, The Hartford Financial Services Group this week reported second quarter mutual funds’ core earnings of $18 million versus $27 million during the same period last year.

On August 3, 2012, Total money market mutual fund assets dipped by $3.95 billion to $2.551 trillion for the week ended Wednesday, August 1, according to data from the Investment Company.

On August 2, 2012, Sentinel Investmentsf chief executive Christian Thwaites yesterday saw four members of his investment team, including Charles Schwartz, Betsy Pecor, Matthew McGeary, and Matthew Spitznagle, walk away from their posts.

On August 2, 2012, Russell Investments has added three subadvisors to its Strategic Bond Fund (RFCSX), which preivously employed four subadvisors.

On August 2, 2012, AllianceBernstein today reported that its total assets under management were $407.3 billion as of June 30, 2012, down 2.8% from March 31, and down $53.7 billion, or 11.7%, compared to June 30, 2011.

On August 2, 2012, Pioneer Investments is boosting its coverage of Registered Investment Advisors with the addition of Brian Kilar as a wholesaler for the RIA Channel.

On August 2, 2012, Vanguard has severed sub-advisory ties with AllianceBernstein regarding the Vanguard Windsor Fund and Vanguard Global Equity Fund.

Joe Barrato is chief executive officer of Arrow Investment Advisors, a developer and distributor of mutual funds that are built around "targeted" levels of risk.

On August 1, 2012, Attention asset managers: The Registered Investment Advisor channel, especially the $100 million to $500 million AUM segment, is one place where you can differentiate your offering in a crowded marketplace, according to a new report by Cerulli Associates.

On August 1, 2012, Henderson Global Investors has launched the Henderson Dividend & Income Builder Fund (HDAVX, HDCVX, HDIVX), which primarily bets on dividend-paying equities of US and non-US companies.

On August 1, 2012, Multi-manager fund firm Virtus Investment Partners yesterday reported that it had positive net flows for the 13th consecutive quarter, and increased sales in long-term open-end mutual funds year over year.

On August 1, 2012, The Oakmark Equity and Income Fund (OAKBX) reopened to all investors effective today.

On August 1, 2012, Money-market fund companies have doubled lobbying efforts to convince regulators and lawmakers that they aren’t a threat to the financial system. The money may have been well-spent.