Results for "mutual funds"

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Former CEO of AllianceBernstein raises $4 billion to launch fund company

September 20, 2018

Peter Kraus, the Wall Street veteran who recently led AllianceBernstein Holding, is starting a mutual fund company — and aiming to shake up the industry's traditional fee model. Italian insurer Assicurazioni Generali is backing Mr. Kraus's...

SEC penalizes RIA more than $2 million for 12b-1 violations

September 14, 2018

A Pennsylvania investment advisory firm on Friday agreed to pay $2.1 million in a settlement with the Securities and Exchange Commission over sales of high-fee mutual fund share classes. In the order, the SEC alleged that from April 2013 through...

Fidelity launches two more zero-fee funds

September 13, 2018

Fidelity Investments said it will start two additional zero-expense-ratio mutual funds, stepping up its push to lure cost-conscious individual investors. The Fidelity Zero Large Cap Index Fund and the Fidelity Zero Extended Market Index Fund...

Finra fines Citigroup $100,000 for overcharging clients

September 10, 2018

Citigroup Global Markets Inc. has been fined $100,000 by the Financial Industry Regulatory Authority Inc. for failing to properly supervise the sale of mutual funds to certain retirement plan and charitable organization customers. According...

Mutual fund fee wars will encourage bad behavior

September 6, 2018

Fidelity Investments introduced two mutual funds last month that cost investors nothing. One is focused on U.S. equities and the other on international assets. This is not a gimmick. The funds have already attracted almost $1 billion. The move...

In latest A-share discount snafu, broker-dealer pays $1.37 million to clients

September 5, 2018

The Financial Industry Regulatory Authority Inc. flagged another broker-dealer for not giving clients discounts when they bought mutual fund A shares, this time reaching a settlement with Lincoln Investment Planning in which the firm paid $1.37...

DOL fiduciary rule caused $14 billion in stock losses for investment firms: report

September 5, 2018

The Department of Labor's fiduciary rule led to "tremendous" losses for brokerage and other investment firms, causing billions of dollars to be shed from their market valuations as investors feared the rule would hurt profitability, according...

Active managers fall further behind indexes

August 23, 2018

Fewer stock pickers are beating their indexes, with value managers among the worst performers. Just 36% of actively managed stock funds topped indexes in the year through June, down from 43% in 2017, according to a Morningstar Inc. report. Pickers...

Vanguard, Fidelity, Pimco are top three fund firms among RIAs

August 7, 2018

Vanguard, Fidelity and Pimco remained the three leading fund complexes attracting the strongest purchase consideration from RIAs this year, according to a study by research firms Market Strategies International and Morpace. The researchers defined...

Vanguard exec: Investors should look for 'the catch' in Fidelity's no-fee funds

August 3, 2018

There's more than meets the eye when it comes to the free funds unveiled by Fidelity Investments this week, according to Vanguard Group chief investment officer Greg Davis. Vanguard's rival stoked the investing industry price war Wednesday by...

American Funds offering TDFs in collective investment trusts

August 3, 2018

Capital Group, the asset manager behind the American Funds investment brand, is planning to offer its target-date mutual funds in a collective-investment-trust-fund vehicle later this year, in a move to seize on the growing popularity of CITs...

Fidelity's zero-cost funds raise issues for 401(k) advisers

August 2, 2018

Fidelity Investments is making 401(k) advisers' lives a little more complicated. The Boston-based behemoth dropped some eye-popping news Wednesday: as of Friday, it will begin offering two index mutual funds with a price tag of 0.00%. Yes, funds...

Voya gives investors back $2 million under SEC order

August 2, 2018

The Securities and Exchange Commission has terminated a disgorgement fund set up by Voya Investments to reimburse investors in certain Voya mutual funds. The SEC said Voya distributed the entire $2,024,355.48 it had agreed to pay to 36 of its...

Fidelity resets the fee-war bar with zero-expense index funds

August 1, 2018

Fidelity Investments has pushed the limit in the wealth management industry's fee wars by launching two index funds with expense ratios of zero. The $7 trillion asset manager's seemingly blatant effort to capture more market share also includes...

401(k) advisory firms with custom TDFs offer pain, solace to asset managers

July 20, 2018

Target-date funds built by firms with large networks of 401(k) plan advisers are beginning to gather significant assets, posing a direct threat to some asset managers trying to distribute their own products. Consider Retirement Plan Advisory...

MassMutual offers active target-date funds managed by T. Rowe Price

July 10, 2018

MassMutual has launched a family of target date funds that is managed by T. Rowe Price and features active management and dynamic tactical asset allocation. The MassMutual Select T. Rowe Price Retirement Funds are available exclusively to participants...

Bill Gross's bond fund sees $580 million of outflows in first half

July 10, 2018

Investors pulled a total of about $580 million from Bill Gross's bond fund in the first half of this year, and he turned in the worst performance among his peers during the period. June marked the fourth straight month of withdrawals for Mr....

Muni closed-end funds may be ripe for tax-loss sales

July 5, 2018

It's only July, but it's not too early to discuss selling municipal-bond closed-end funds to offset a capital gains tax liability, according to Greg Neer of Relative Value Partners. Almost 90% of closed-end funds monitored by Bloomberg posted...

Best- and worst-performing sector funds and ETFs this year

June 22, 2018

A rising tide may lift all ships, but a bull market doesn't lift all stock sectors. Here are the top and bottom funds and ETFs in the five best- and worst-performing sectors this year, listed from worst to first. Data are as of June 21 and are...

Celebrated investor Jim Rogers launches ETF

June 21, 2018

Celebrated investor Jim Rogers has launched an exchange-funded fund. The most intriguing question about this news: Will the perennially bearish Mr. Rogers be able to stay invested? The Rogers AI Global Macro ETF (BIKR), which launched Thursday,...

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