Mutual funds

Dalbar has announced its 2011 Mutual Fund Service Award Winners in Financial Services—with top honors for customer service going to:

Global X Funds is liquidating eight of its exchange-traded funds, including a fund focused on emerging markets and another on waste management. All of the funds trade on NYSE Arca. The eight closings, scheduled for Feb. 27, with the last day of trading on Feb. 16, are:

A jury for the U.S. District Court for the Southern District of New York has ruled in favor of an SEC lawsuit against a former Prudential Securities registered rep for market timing mutual funds between 2001 and 2003.

Invesco has launched the Invesco Premium Income Fund, aimed at investors looking for current income streams. The strategy is designed “to provide protection during periods of economic stress” while still meeting income goals, the firm said.

Morningstar has announced its five nominees for the Morningstar Domestic Stock Fund Manager of the Year Award. The 2011 nominees are:

William Blair Funds has introduced the William Blair Small-Mid Cap Value Fund, aimed at delivering long-term capital appreciation and portfolio diversification by taking moderate risk.

Russell Global Index is absorbing 31 initial public offerings for the fourth quarter, effective Monday, Dec. 19.

William Blair Funds has introduced the William Blair Small-Mid Cap Value Fund, aimed at delivering long-term capital appreciation and portfolio diversification by taking moderate risk.

The $241 billion PIMCO Total Return, which has underperformed its peers over the past year—returning 3.48% year to date—has been hit with $17 billion in outflows, Morningstar data shows. By comparison, taxable bond funds, which are up 5.87% YTD, took in $105.8 billion in inflows over the past 12 months.

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According to the latest statistics from the Investment Company Institute, an estimated $5.76 billion left domestic equity mutual funds the week ended Dec. 7, continuing a long streak of net investor redemptions. Since May 1, investors have been pulled nearly $135 billion from U.S. stock funds.

Goldman Sachs' asset management division has agreed to purchase the mutual fund division of Dividend Growth Advisors, in a push to offer more income-generating funds.

TIAA-CREF has launched the TIAA-CREF Global Natural Resources Fund, aimed at providing investors with diversification, a hedge against inflation and an opportunity to participate in the growing demand for resources among the world’s seven billion population.

An estimated $9.2 billion flowed out of long-term mutual funds for the week ending Wednesday, Nov. 30, according to the latest statistics by the Investment Company Institute, a trade association for U.S. investment companies.

The Hartford will hire up to 50 in its mutual fund sales distribution unit, in a push to beef up this division.

Lots of attention has been paid this year to the fact that investors are yanking billions after billions out of mutual funds that invest long-term in domestic stocks.

The Depository Trust & Clearing Corporation says it has enhanced its cost basis reporting service to help mutual fund managers and other financial intermediaries transfer cost basis information on investors’ accounts from one firm to another.

Standard & Poor's Indices said it launched a Pan-Arabian stock index.

PHOENIX, Ariz. -- Predictions are easiest to assess, when a year is over.

PHOENIX, Ariz. – He blew right by me. On one leg.