Mutual funds

Market volatility severely curtailed revenue growth among asset managers in 2011, while independent managers continued to outperform management subsidiaries, according to a study released by consulting firm Casey, Quirk & Associates LLC.

imensional Fund Advisors has appointed Steve Clark, formerly head of portfolio management, as head of the North American Institutional group. He replaces Dave Schneider, who is retiring.

Lighthouse Partners, a fund-of-hedge-funds and managed account investment adviser has taken a minority stake in 361 Capital, a Denver-based provider of alternative investment mutual funds, separate accounts and limited partnerships to institutions, financial intermediaries and high-net-worth investors.

Santa Fe, NM-based Thornburg Funds has promoted Rob McInerney, formerly a regional consultant, to the role of national sales manager, effective March 1. He will also assume the role of president of Thornburg Securities Corp., succeeding Jack Gardner in both positions.

Mutual funds started February with a roar but ended the month with a whimper.

The Investment Company Institute has promoted Kathleen Joaquin to the position of Chief Industry Operations Officer, replacing 25-year veteran Donald Boteler, who retired earlier in the month.

Securities and Exchange Commission chairman Mary L. Schapiro told a financial services subcommittee of the House of Representatives that the federal regulator intends to spend $100 million of its $1.6 billion requested budget for fiscal 2013 on information systems and another $50 million on modernizing the EDGAR stock information database and www.sec.gov, its public web site.

Huntington Asset Services, Inc. a wholly owned subsidiary of Huntington Bancshares Incorporated, has appointed Joseph Rezabek as president of the company. Rezabek hails from Citi Fund Services, where he was managing director and head of North American Fund Services.

Matrix Financial Solutions has expanded the functionality of TrueOpen, its core mutual fund trading platform, to address growing demands from retirement plan providers and advisors.

Symetra Investment Services, Inc., the broker-dealer registered investment advisor arm of Symetra Financial Corporation, has hired John Forrest to serve as director of business development, responsible for managing relationships, development advisors and managing sales.

Morningstar, Inc. has launched a new alternative investments center as part of several enhancements to MorningstarAdvisor.com, a free website that provides advisors with practice management information, investment trends, and industry insights.

Matrix Financial Solutions has expanded the functionality of TrueOpen, its core mutual fund trading platform, to address growing demands from retirement plan providers and advisors.

Seoul, Korea-based Mirae Asset Global Investments today unveiled its Global Dynamic Bond Fund, which will bet on sovereign, quasi-sovereign and corporate bonds from issuers in both emerging and developed markets, for U.S. investors.

Wasatch Funds has launched what it touts as “one of the few no-load open-end mutual funds focused exclusively on frontier and smaller emerging market countries,” including Africa and Southeast Asia.

Pyxis Capital, formerly known as Highland Funds Asset Management, L.P., has broken away from its parent, Highland Capital Management, L.P., and taken on a new moniker and a new approach to creating alternative mutual funds.

The coming year is shaping up to be a fresh start for alternative mutual fund shop Pyxis Capital.

Russell Investments has introduced a series of indexes designed to allow fund managers to control volatility in their portfolios.

A new investment management shop has opened in Palm Beach, Fla., dubbed Crest Investment Partners LLC.

Nasdaq OMX and risk analytics developer Axioma have launched a family of indexes that will give investors exposure to commodity spot prices, through the use of stocks.

Wasatch Funds has launched what it touts as “one of the few no-load open-end mutual funds focused exclusively on frontier and smaller emerging market countries,” including Africa and Southeast Asia.