Sue Asci
Boston Bureau Reporter at Investment News. Connect with her on LinkedIn.
Boston Bureau Reporter at Investment News. Connect with her on LinkedIn.
The Malvern, Pa.-based fund firm will merge the $6.7 billion Vanguard Treasury Money Market Fund (VMPXX) into the lower-cost $21.8 billion Vanguard Admiral Treasury Money Market Fund (VUSXX).
The reductions are being made across all companies and departments among the firm’s 9,000 employees, said Chuck Freadhoff, spokesman for American Funds.
Job losses will continue to mount as the nation is expected to lose an average of 500,000 to 600,000 jobs each month for the next few months, the report said.
Fidelity Capital Markets, the institutional trading division of Fidelity Investments of Boston, today named Thomas Tesauro as executive vice president of its Prime Services business.
Abigail Johnson, daughter of Fidelity chairman and chief executive Edward “Ned” Johnson, is expected to be named chairman of one of the firm’s two boards of trustees — the one that oversees the fixed-income and asset allocation funds.
Money managers saw assets sold through unaffiliated third-party defined contribution record keepers shrink less than their retail mutual funds last year, according to a report released yesterday by Boston-based Financial Research Corp.
The Reserve Management Co. of New York has announced that the liquidation of the Reserve U.S. Treasury Fund (RUTXX) and distribution concluded May 29.
Rochdale Securities LLC today announced the establishment of a fixed-income sales and trading division.
Private-equity firm Brookstone Partners today announced the launch of Brookstone Partners Asset Management, an independently operated investment advisory group.
Independent advisory firms have stepped up their outreach efforts, and the largest firms continue to open accounts even though their assets under management have dropped.
