In what some say is a growing trend, The Permal Group Inc., a fund-of-hedge-funds affiliate of Legg Mason Inc., today launched its first mutual fund.
Year-over-year median compensation paid to mutual fund directors increased an average of 4.2% last year, bringing it to $49,000, from $47,000, according to a study released today by Management Practice Inc., a Stamford, Conn. consulting firm for independent fund directors.
The growth of mutual funds that invest in stocks perceived as friendly to the environment came to a halt last year as investors scrambled for safety, but industry experts think that once investors regain their confidence, green funds will benefit.
Amid a spate of class actions and investigations by five states into losses associated with its bond funds, OppenheimerFunds Inc. has launched an aggressive effort to strengthen its business operations.
Target date funds are coming under heavy scrutiny on Capitol Hill, with lawmakers and regulators working hand in hand to determine if these one-stop-shop retirement funds are in need of increased oversight — or perhaps even restrictions that would prevent them from investing too aggressively.
The dismal performance of mutual funds could result in a wave of lawsuits alleging that funds failed to disclose the true risk of their investments, according to several industry lawyers.
Cash invested in U.S. stock funds spiked last week, according to a report released yesterday by TrimTabs Investment Research.
Exchange traded fund assets fell by 13.5% during the first quarter, to $430.15 billion, according to data released today by Barclays Global Investors of San Francisco.
MFS Investment Management of Boston has named Douglas Bailey as national sales manager for its mutual fund distribution unit, MFS Fund Distributors Inc.
The average emerging-markets-equity fund gained more than 10% in March — outpacing the returns posted by funds that invest in developed countries, according to Lipper Inc.
The Vanguard FTSE All-World ex-US Small-Cap Exchange Traded Fund (VSS), which seeks to track the performance of the FTSE Global Small-Cap ex-US Index, began trading today, The Vanguard Group Inc. of Malvern, Pa., announced.
Some providers of exchange traded funds hold out hope that the government will still turn to ETFs to purchase toxic assets — illiquid real estate loans and securities backed by loan portfolios — from banks.
American Funds will no longer sell Class B and 529-B shares of its mutual funds, effective April 21, the firm said today.
The Department of Labor will begin an "immediate review" of target date funds — one that could lead to new regulations placed on the all-in-one investment strategies — according to a letter sent to a key Senate committee.
The Treasury Department on Tuesday extended a temporary guarantee of money market mutual fund assets initially put in place during the height of the financial crisis.
It looks as if Barclays’ iShares exchange traded fund business will be sold to a Luxembourg-based global private-equity firm.
Fee-only financial advisers were unhappy to learn that 12(b)-1 fee reform — once a top priority for the Securities and Exchange Commission — is on hold, but others in the investment management industry, specifically those in the brokerage community, welcomed the news.
A Brooklyn financial adviser filed a complaint has filed with the New York State Office of the Attorney General on behalf of clients who haven’t received the final distribution from the liquidation of a money market mutual fund offered by Reserve Management Co. Inc.
DWS Investments plans to liquidate three of its 77 mutual funds on June 5, according to a filing this week with the Securities and Exchange Commission.
Although the Securities and Exchange Commission is eyeing regulatory changes for money market mutual funds, industry observers are not expecting stricter standards than those adopted by the Investment Company Institute last week.
