Mutual funds

Bank of New York Mellon announced Tuesday that it had completed its purchase of Arx Capital Management, a Rio de Janeiro independent asset manager. Arx Capital specializes in Brazilian multi-strategy, long-short and long-only investment strategies and has more than $2.8 billion of assets under management. The price of the acquisition, which was announced on Nov. 13, was not disclosed. Arx Capital will be integrated into BNY Mellon Asset Management Brasil. The company said that the combined business will be one of the largest asset assets managers in the country.

The Supreme Court's decision in Stoneridge Investment Partners LLC v. Scientific Atlanta will mean that mutual fund companies, could be better protected from class-action investor suits involving third parties that support the administration and running of a fund's trading floor and back office.

Money market mutual fund assets rose $13.55 billion to $3.189 trillion for the week ending Jan. 16, according to the Investment Company Institute.

Vanguard Takes Top Spot from American Funds

By now, most asset management executives have seen the predictions that large-cap growth will be the way to go in 2008. But digging deeper than mere asset class predictions, MME spoke with two industry leaders to tease out nuances of what fund managers can expect this year.

BOSTON - Fund companies will need to plan ahead to ensure they can meet new regulations on fund disclosure without costly delays to investors and brokers.

BOSTON - Participants at one session of last week's National Investment Company Service Association's east coast regional meeting set their sights on how the managed funds industry is going to market itself to the 80 million Generation Y members.

First there were environmental mutual funds that rewarded do-good companies and those with sustainability sensitivities. Next came alternative energy and climate change funds.

Sincere Joins F-Squared Board

The rapid growth in the exchange-traded fund arena is increasing the complexity of capital gains taxes, writes the Wall Street Journal.

The rapid growth in the exchange-traded fund arena is increasing the complexity of capital gains taxes, writes the Wall Street Journal.

Early estimates for domestic individual annuity sales for 2007 show they are on a record-setting pace, growing 6% through the first three quarters of the year to reach $189.4 billion, according to LIMRA International.

As asset managers gear up for Baby Boomers' retirement years, Richard "Mac" Hisey, chief investment officer at AARP Financial, took some time out last with to speak with MME Senior Editor Brent Shearer about how investment firms are trying to reach out to Boomers.

The Treasury Department will begin offering Social Security recipients the option of receiving payments by debit card instead of traditional checks, signaling a further effort by the government to move toward electronic technology.

Hedge Fund Managers Add Billions to Bottom Line

Kenyon Switches From Goodwin to Dechert

In a move that could change the way brokers and advisers sell mutual funds, the Securities and Exchange Commission has released a new report examining public and industry perspectives on investment advisors and broker/dealers.

Two lawsuits and two FINRA arbitration claims filed against the executives, directors, chief compliance officer, portfolio managers and independent auditor of three open-end funds and four closed-end funds managed by an affiliate of Memphis, Tenn., broker/dealer Morgan Keegan & Co., may be the tip of the subprime iceberg for the mutual fund industry.

Mutual fund assets reached $13 trillion in 2007, reaping $1.8 billion over the year, according to Strategic Insight.

Japan Looks to Overhaul Financial Regulations