Mutual funds attracted net inflows of $44 billion during January and February, according to a report from Strategic Insight Mutual Fund Research and Consulting.
Fidelity Investments of Boston today launched three funds, including the firm’s first convertible-securities fund.
The Securities and Exchange Commission may soon take action against the broker-dealer subsidiary of The Reserve, the New York-based firm whose flagship $62 billion money market fund "broke the buck" in September.
TD Ameritrade Holding Corp. will continue waiving fees on many money market funds for the rest of its fiscal year to ensure that clients who sweep cash into the funds don’t lose their principal, the company’s chief financial officer said today.
Mutual fund liquidations this year are already nearly double what they were by this time in 2008.
When the equity markets began their dramatic slide in the second half of last year, advisers and their clients researched the investment offerings of Los Angeles-based American Funds more than any other mutual fund group.
In what might come as a surprise to the organization's members, the head of the mutual fund industry's biggest trade group last week said that he supports the idea of requiring all financial advisers to act as fiduciaries.
Fidelity Investments filed yesterday with the SEC to launch a series of target date funds that will be available to certain 401(k) plan customers at below retail cost.
Two major forces are behind the dramatic growth in popularity of exchange traded funds: the wide-spread adoption of fee-based advice and the prolonged 10-year bear market’s effect of destroying the “mutual fund manager” myth.
Legg Mason Inc. said Thursday it will record a $610 million charge to reflect elimination of exposure to risky structured investment vehicles in its money market accounts.
Insurer Old Mutual PLC reported Wednesday a 30 percent drop in 2008 profits as its U.S. Life unit made a large loss, hurt by the collapse of financial institutions such as Lehman Brothers and Freddie Mac and Fannie Mae.
Smith Barney's exclusive deal with Legg Mason to distribute funds run by Bill Miller has come to an end.
T. Rowe Price Group Inc. has restructured its equity leadership, elevating two top portfolio managers into new posts overseeing domestic and international equities.
Investors worldwide pulled money out of stock funds last week at levels last seen in mid-October.
Harbor Funds of Chicago launched a new global fund to its lineup today.
Publicly traded asset management companies tend to lead market recoveries, but the fast and brutal decline in mutual fund assets makes the firms' ability to front a recovery doubtful.
Neither investors nor their advisers are feeling particularly positive these days, according to research conducted by OppenheimerFunds.
Standard & Poor's of New York today revised upward its fund volatility ratings on 10 U.S. offshore and European fixed-income funds.
A money-market mutual fund that notoriously "broke the buck" has set aside a $3.5 billion reserve to cover litigation costs and damages.
President Obama’s proposal to raise taxes on affluent households, detailed in his budget plan today, could be a boon for tax-managed mutual funds.
