Mutual funds

The firm faces an additional penalty after it didn’t participate in the regulator’s self-reporting initiative.

Conversions are gaining popularity as billions of dollars exit mutual funds each year.

The largest groups of mutual funds and ETFs saw their assets swell to trillions under management as prices rose in the post-lockdown stock boom of 2020.

None of the leading 20 funds with a 50% to 70% equity allocation beat the gains of broader stock indexes over the past 10 years.

It'a the latest move of a U.S. asset managers expanding into the businesses of private equity and credit.

With $2.6 trillion in total assets, the firm is by far the biggest name yet that’s seeking to make such a move.

The $637 billion quant pioneer founded by David Booth has converted four equity mutual funds with $28.8 billion of assets into ETFs.

The case against Centaurus Financial comes after the industry and consumer advocates decried the previous administration’s approach for different reasons.

"The successful long-term players have the long-term tech driven trends right, and COVID just accelerated and magnified the trends," an expert says.

The long-term leaders carry fees more than twice the broader industry.

Most foreign financial institutions have identified wealth management as a prime focus with investable assets estimated to double over the next few years.

While several analysts are bullish, not all are convinced of the Canadian asset manager’s newfound strategy.

Despite long-term outperformance, many of the leading 20 have suffered short-term losses.

The fund manager will provide investing and savings accounts and debit cards to 13- to 17-year-olds whose parents are clients.

“Some assets are cheap for a reason,” an expert says.

Home to more than $3 trillion, outperformance among the leaders comes with some caveats.

Aside from their rock-bottom fees, those with the largest gains have at least one commonality: asset allocation.

If Biden’s proposal is enacted, Nir Kaissar writes many investors will dump their funds to avoid paying a higher tax down the road.

The lineup of exclusively short-duration fixed-income products, taxable and municipal, still managed an overall gain.

The top 20 performers nearly doubled the gains of their peers over the period.