Schwab faces uphill battle in court over fund losses
Charles Schwab & Co. Inc. is likely to lose this week when a California federal judge hears a motion appealing a ruling in a class action that, if left standing, would give mutual fund investors a new line of attack against underperforming funds, fund industry attorneys said.
ProShare launches first 130/30 ETF
ProShare Advisors of Bethesda, Md., today announced the introduction of the first exchange traded fund to follow a 130/30 investment strategy.
Ex-TCW exec Gundlach gets backing from Oaktree
Jeffrey Gundlach, ousted early this month as chief investment officer of TCW, announced today he has established a strategic relationship with Oaktree Capital Management LP in which Oaktree will help his new firm, DoubleLine LLC, establish its own operational infrastructure.
KaChing rings up $7.5M in financing
KaChing Group Inc's online service — touted as an alternative to mutual funds — may still be in its infancy. But kaChing today announced it has secured $7.5 million in financing.
Fast Track: Dreman’s new president is dreamin’ big
It has been a topsy-turvy year for Scudder Investments in New York.
Russell Investments hires two ex-execs from iShares for its ETF biz
Russell Investments moved a step closer to becoming an exchange-traded-fund provider yesterday when it announced that it has appointed James Polisson managing director of its global ETF business and Andrew Arenberg managing director of global ETF distribution.
Vanguard sued for discrimination over hiring of financial planning manager
The Vanguard Group Inc. is alleged to have violated federal law when it refused to hire an black applicant because of her race, according to a lawsuit filed by the Equal Employment Opportunity Commission.
Revolving door at Fidelity takes another turn
Fidelity Investments' revolving door continued to spin last week with its announcement that another high-ranking executive, Charles Goldman, is leaving.
Music to fund’s ears
Music played on rare violins, violas and cellos brings joy to audiophiles and may also soon bring happiness to the wallets of investors.
Schwab launches six managed ETF portfolios
The Charles Schwab Corp. last week announced the launch of six managed portfolios of exchange-traded funds available through a fee-based portfolio advisory program.