Mutual funds

BoA Hires Former Fido Marketing EVP Huang

To paraphrase Donald Trump, Morgan Asset Management has essentially told bond fund manager James Kelsoe, "You're fired!"

NEW YORK - As the world economy becomes increasingly connected, communicating important financial information, such as income statements, cash flow, balance sheets and mutual fund returns, would be all but impossible without a common language.

At the Securities and Exchange Commission's meeting on April 17 and 18 in Washington, D.C., open only to chief compliance officers, SEC chief examiner Gene Gohlke announced that mutual funds can now add forensic testing to their SEC exam checklist of funds' own annual internal compliance reviews.

Talk about a living legend brimming with institutional knowledge.

What inspired me to find a tremendous investing opportunity in the Internal Revenue Service's tax code?

Jim Goff is a rare portfolio manager and research director who sticks to his guns no matter how erratic or rewarding the market. In fact, he has stuck, for 20 years now, with a fund complex that has just about seen it all.

The Securities and Exchange Commission has announced the distribution of $30.6 million to more than 250,000 investors affected by market timing by RS Investments.

Randy Takian, head of strategy and development for Morgan Stanley’s hedge fund and alternative investment products, will head its investment management unit’s retail and intermediary business, according to Dow Jones.

U.S. Trust, Bank of America Private Wealth Management has announced the appointment of 12 client-facing professionals for the New York City area.

WASHINGTON — Initial claims for U.S. state unemployment benefits plunged 33,000 to 342,000 in the April 19 survey week, the Labor Department reported yesterday, but a Labor analyst cited “no special factors.”

WASHINGTON—Treasury Secretary Henry Paulson met in private with top lenders and servicers this week to warn them the housing market is continuing to deteriorate and press them for a new solution, several sources said Thursday.

The U.S. House of Representatives has gone on federal public record as warning the industry and government legislators that raising long-term capital gains on mutual fund investors any higher than it already is will seriously impair the markets, shareholders, and, eventually, retirees.

Fines Continue to be Levied on Fund Companies for Market Timing & Late Trading, With a Renewed Focus on U.K. Orders

After failing to redeem $580 million of the shares of three of its tax-free closed-end funds, Eaton Vance has successfully obtained private financing for the preferred shares in question.

In a lawsuit stunning for giving renewed life to the revenue-sharing scandals and for extending the period certain through 2006, Wells Fargo has been hit with a class-action lawsuit for allegedly sharing mutual fund revenue with brokers and other selling agents, without informing shareholders and through excessively high fees.

fund flows

Senate Democrats in Connecticut are pushing for a state-sponsored 401(k) retirement plan for small businesses, designed for employers who can’t afford to offer a retirement plan to their workers.

‘Bond Broadside’ Includes Two Worst-Performers, Down -73% & -70%

A number of news events in the past week alone indicate without question the U.S. economy is at a dangerous inflection point, but so far, no one-no economist, analyst, fund manager, regulator, legistator, president or CEO-is willing to put together the pieces to talk about something other than snapshot first-quarter, year-over-year or historical trendline data that make a case for the return of the markets.