Legg Mason Inc. fell as much as 3.6 percent in New York trading after reporting that fund withdrawals more than doubled from the prior quarter.
Riverfront Investment Group, the asset manager founded by former investment gurus from Wachovia Securities, is launching three mutual funds.
Brokerage executives are slamming the SEC's proposal to allow broker-dealers to set their own sales charges on mutual funds, claiming that it could create problems for both the industry and individual investors.
The Securities and Exchange Commission's proposal last week to revamp 12(b)-1 fees could have a number of unintended consequences that could hurt investors rather than help them, according to some observers.
Nuveen hopes this type of arrangement is just the first of many as it hopes to subadvise more muni bond ETFs
It's been just over a year since Peter Kraus took over as CEO of AllianceBernstein LP.
Invesco PowerShares Capital Management LLC today launched nine small-cap-sector exchange-traded funds, but that's going to be the last new offerings the firm rolls out for a while.
Janus Capital Group Inc. has introduced a value income fund using managers from both its internal fixed-income team and its Perkins Investment Management LLC subsidiary.
Laurent Saltiel, manager of Janus Capital Group Inc.'s $2.44 billion Worldwide Fund, will leave the firm at the end of May.
As a new crop of money managers and investment banks enters the hot market of exchange-traded funds, the challenge already has proved too much for some in a sector where scale is key.
While the market recovered in 2009, most asset managers did not, according to a report Tuesday from The Boston Consulting Group.
Goldman Sachs Asset Management's effort to expand its small defined-contribution business by offering custom target date funds has caught the attention of advisers.
Capital Group Cos., the largest U.S. manager of stock mutual funds, asked regulators for permission to open its first new fixed-income products in four years.
A new tool that is marketed as being able to help identify the most likely mutual funds to outperform the market promises to stir up debate among both financial advisers and providers.
Given the recent swings on the stock market, nervous investors might want to consider a fund that dampens volatility. One such fund: the Goldman Sachs Absolute Return Tracker Fund Ticker:(GARTX).
Mike Latham has been named global head of BlackRock's iShares exchange-traded-fund business, a new position, confirmed spokeswoman Bobbie Collins.
With the euro under pressure during May 2010 and concerns about slower growth in Asia, S&P Equity Research believes that choosing a global mutual fund based solely on a fund's track record comes with risks as most funds that outperformed in 2009 underperformed in 2008.
The groups also claim the Labor Department is stepping outside the bounds of ERISA by claiming the authority to define what investments are appropriate for plans
The concept of offering faith-based exchange-traded funds is novel, but the offerings available to prospective investors barely differentiate themselves from one another — and are often too expensive — according to a new report from Standard & Poor's.
Despite a tepid response from plan sponsors, asset management firms continue to develop and promote annuity-enhanced target date funds, insisting that demand for retirement income will spur interest.
