BOSTON — Fidelity Investments and American Funds lagged behind The Vanguard Group Inc. in stock and bond mutual fund sales for this year through May as investor appetite for low-cost index and exchange traded funds increased.
Mergers between employee benefit and financial advisory firms may become common as they set their combined sights on baby boomers’ retirement assets, according to industry observers.
Forget expense ratios. Portfolio trading costs can be an even bigger drag on mutual fund performance.
Robert Lyon, former CEO and CIO of Institutional Capital Corp., died earlier this week at the age of 57.
Old Mutual of London is planning to significantly expand its asset-management division in the U.S., according to MarketWatch.
An Italian judge has ordered Bank of America to stand trial in connection with the 2003 collapse of Italian dairy company Parmalat SpA.
UBS picked deputy group CEO Marcel Rohner to helm the company, replacing Peter A. Wuffli.
Braddock Financial will liquidate its $300 million hedge fund due to investor fears of subprime mortgage exposure.
A specialty insurer said that two of its employees received Wells notices from the SEC's division of enforcement.
Following hedge fund problems, asset management risk control will report to parent's risk czar.
Ameristock Corp. today announced the launch of trading in five new U.S. Treasury exchange traded funds on the American Stock Exchange today.
The New York-based hedge fund manager seeks $2 billion in IPO.
Fund managers are keeping their powder dry, saying "nothing is really cheap" right now.
Fidelity has bought back preferred shares from stockholders, possibly paving the way for a new ownership structure.
As Bear Stearns bails out its sinking hedge fund, another threat looms: lawsuits from angry investors, Reuters said.
Commerce Bank N.A. of Cherry Hill, N.J. has announced the departure of chairman and CEO Vernon W. Hill.
HSBC Holdings has applied for a life insurance license with a Chinese partner and expects to begin operations in that country by 2008.
Claymore Securities has launched two exchange traded funds on the American Stock Exchange today, themed on brokerages to vaccines.
LaSalle Bank is cutting 100 more jobs than previously announced, but none of the additional reductions will come from the Chicago area.
