The Reserve Management Co. Inc. of New York announced yesterday the liquidation of 15 money market mutual funds.
The ProShares UltraShort Financials (SKF), and ProShares Short Financials (SEF) exchange traded funds resumed the normal process of creating new shares today.
Moody's Investors Service announced yesterday that it has downgraded Legg Mason Inc.'s senior debt rating to A3, from A2.
The Hartford Financial Services Group Inc. will participate in the Treasury’s money market mutual fund guaranty program on the heels of yesterday’s announcement that Fidelity Investments, The Vanguard Group and the T. Rowe Price Group will do the same.
FundQuest Inc. today announced a partnership with New Frontier Advisors LLC, a research and investment advisory firm, to offer exchange traded fund managed-account portfolios to financial advisers.
Two members of the team responsible for the success of the First Eagle Funds Group began running their own funds last week.
Launching a fund amid market turmoil may be a challenge, but one fund creator sees opportunity with a fund designed for the risk-averse.
With stocks falling, credit tightening and the economy in a tailspin, mutual funds that comply with Shariah, or Islamic law, are becoming more appealing to some advisers.
Robert L. Reynolds, Putnam Investments' recently installed chief executive, has received high marks for decisive action to protect investors in an institutional money market fund awash in redemptions, but clients say they need more data points to judge his longer-term prospects for rebuilding the once highflying firm.
Since the financial crisis shined a harsh light on the viability of stable-value and money market funds, advisers who counsel employers on their 401(k) plans are taking a closer look at these investments.
High-net-worth clients aren't immune to having serious concerns about their finances because of the tumultuous economy, according to financial advisers.
Investors fearing a market collapse are running into U.S. Treasuries, but they may soon rue the day they let fear dictate their investment decisions.
In the wake of plunging investor confidence, mutual fund firms have developed advertising messages that stress solidity.
Reserve Management Co. denied claims of insider trading related to its Primary Fund in response to a lawsuit that Ameriprise Financial Inc. filed.
All Schwab money market funds will participate in the temporary guaranty program for money funds announced by the Department of the Treasury on Sept. 19.
Delaware Management Holdings Inc. hired Fred Alger Management Inc. to manage part of its $900 million multimanager Optimum Large Cap Growth Fund (OILGX), beginning on Tuesday.
“Putnam’s money market funds have maintained their $1 share price ... however the program is well worth the peace of mind we hope it provides investors,” Robert L. Reynolds, president and chief executive, said in a statement.
One week after buying a 21% stake in Morgan Stanley, Mitsubishi UFJ Financial Group Inc. took a $506 million paper loss as a result of the extreme drop in the markets following Congress’ rejection of a $700 billion bailout package yesterday, according to Bloomberg.
Reserve Management Co. Inc of New York said yesterday that its board has voted to liquidate the $20 billion in assets of the Primary Fund (RPRXX), which will be distributed on Oct. 13.
Investors trained to believe that exchange traded funds don't trade at premiums or discounts to their net asset value might be in for a surprise.
