Mutual funds

Brookby, Gao now spearheading the New Opportunities, Vista and Small Cap Growth funds.

Brokers voice concerns at Mutual Fund Directors Forum.

WASHINGTON – The Securities and Exchange Commission’s proposed large trader reporting system would seriously hinder large floor traders and brokerages, according to industry executives.

Putnam President and CEO Robert L. Reynolds has replaced the managers of three funds to further bolster investment performance.

The country's two largest custody banks said they will keep looking for acquisitions, of whatever size, as they wait for higher interest rates to spur organic growth.

Despite increasing optimism about the economy, affluent investors remain concerned about retirement savings and the rising costs of healthcare.

Charles Schwab has agreed to settle a federal class-action lawsuit related to its YieldPlus Fund for $200 million, far less than the $800 million plaintiffs had sought.

NEW YORK—Japan is the most energy-efficient country in the world, using nearly half the energy consumption per GDP of the United States and nearly one-eighth less than India and China, said Shuhei Abe, portfolio manager of the Hennessey Select SPARX Japan Fund.

WASHINGTON — Jafor Iqbal wonders if advisers are from Mars and retirees are from Venus.

XBRL US is working on applications for Apple’s iPhone and newly release iPad. The goal is to demonstrate the power of XBRL in a simple and accessible way, said XBRL US President and Chief Executive Mark Bolgiano.

For 27 months, investors have consistently favored fixed-income funds, a trend that shows no sign of abating.

Money market funds are the stepchildren of finance. Though they manage more than $4 trillion in assets, they have not gotten much attention recently. Sen. Chris Dodd (D-Conn.)'s regulatory reform proposal does not even mention money market funds, which we believe is a glaring mistake.

Stock Fund Fees Edge up 2 BPS to 0.86%

Money funds should be regulated like banks, McCulley said.

PIMCO Exec Seeks Money Fund ReformMoney funds should be regulated like banks, McCulley said.JMMoney market mutual funds contributed to the instability of the financial system and should not exist in their current form, said Paul McCulley, a managing director at PIMCO, at a Levy Economics Institute conference last week.McCulley, who runs PIMCO's approximately $500 million money market fund, said the temporary run on money funds in the wake of the collapse of Lehman Brothers in 2008 showed that money funds need an emergency capital backstop to prevent future runs. If such a backstop is granted, the funds should be regulated like banks, he said.McCulley's remarks followed a call by former Federal Reserve Chairman Paul Volcker for tighter restrictions on the types of assets in which money funds can invest.Money market mutual funds contributed to the instability of the financial system and should not exist in their current form, said Paul McCulley, a managing director at PIMCO, at a Levy Economics Institute conference last week.

The fund giant may replace the former president with two executives.

In line with its own worst-case-scenario forecast, Charles Schwab Corp. reported a significant decline in first-quarter earnings due in part to a 19% decline in trading revenue. The San Francisco-based discount brokerage company announced Thursday that profits declined 45% to $119 million, or 10 cents per share, from $218 million, or 19 cents per share, a year earlier. Revenue declined 12% to $978 million.

Use of target-date funds is up significantly thanks to their status as qualified default investment alternatives under the Pension Protection Act of 2006 and the growth of automatic enrollment in company-sponsored plans, according to a new Vanguard study.

The Securities and Exchange Commission on Wednesday proposed tracking large blocks of trades by mutual funds, hedge funds, private equity firms and other large institutional investors. The SEC defines a large trader as those that trade $20 million or more in securities in a day, or 20 million shares or $200 million during any calendar month.

Fidelity Investments has begun its search to replace former president Rodger Lawson and has interviewed at least three external candidates for the position over the past few months, Bloomberg reports, citing three people familiar with the search.