The number of mutual funds receiving the highest possible stewardship grades from investment research provider Morningstar Inc. dropped, while the number receiving the lowest grades increased as a result of the company's Sept. 25 revision of its grading system to impose new, tougher standards.
Investors' increasing appetite for ETFs and alternative investments is sapping money from stock funds — a trend that some say could last for several years.
Investor appetite for hedge funds will be gauged as London-listed closed-end funds are expected to announce plans to raise a combined $612 million.
The five TDAX Independence ETFs are a joint venture between TD Ameritrade and XShares Advisors.
September hedge funds recovered from a sickly August to generate positive returns of 0.85% net of fees for investors.
More wirehouses and B-Ds realize they need to allow advisers to take on fiduciary services.
The ETF 50 Index increased 4.7% in September, marking its largest monthly gain this year.
