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AthenaInvest beta-tests competitor to style boxes
DETROIT — The three-year assault on mutual fund style boxes as an evaluation and asset allocation tool has moved to the beta-testing level by a firm that seeks to turn the traditional grid system inside out.
Cox, Schapiro tackle disclosure at ICI meeting
The Securities and Exchange Commission is examining disclosures for 401(k) plans and is looking at ways to provide 401(k) information using interactive software, SEC Chairman Christopher Cox said last week.
First Trust Advisors launch ETFs on NYSE
After launching 17 exchange traded funds on the American Stock Exchange yesterday, First Trust Advisors LP today moved over to the New York Stock Exchange to list three more funds.
Mutual funds withstand hedge fund seige
Despite the continued – if slowing – growth of hedge funds, mutual funds will continue to dominate money management for the foreseeable future, said market observers at the ICI annual conference today.
AMEX debuts ETFs by First Trust
The American Stock Exchange began trading 17 exchange traded funds managed by First Trust Advisors LP this morning.
Van Eck launches green ETFs
Van Eck Global launched the Market Vectors-Global Alternative Energy Exchange Traded Fund on the New York Stock Exchange today.
Funds slow pace of hiring legal, compliance staff
Mutual fund companies are starting to slow the pace at which they hire legal and compliance officers, according to several industry experts. With the mutual fund scandals receding into the past, such a trend was inevitable, they said.
Is quest for income old-fashioned alchemy or magic elixir?
BOSTON — The Charles Schwab Corp., T. Rowe Price Group Inc. and OppenheimerFunds Inc. are among firms exploring ways to add a guarantee to life cycle funds — providing investors with an income stream in retirement.
Fund industry awaits simplified prospectus
Industry leaders eagerly are awaiting a proposal that would allow mutual funds to provide a two-page prospectus in lieu of the lengthy one now required, a concept that could save millions of dollars in costs.
Active ETFs likely to receive a European tryout
LONDON — The first active exchange traded funds might be introduced in the United States within the next three to six months, according to sources close to negotiations between the Securities and Exchange Commission and Bear Stearns Asset Management Inc. of New York.
ETFs track FTSE NAREIT indexes
Barclays Global Investors of San Francisco announced today that five iShares exchange traded funds designed to track the FTSE NAREIT Indexes began trading today.
A.G. Edwards settles market-timing suit
A.G. Edwards & Sons Inc. of St. Louis yesterday settled with the Securities and Exchange Commission over allegations of mutual fund market timing. The firm agreed to pay $2.4 million in disgorgement and $1.5 million in penalties.
Europe likely to tryout active ETFs
The first active exchange traded funds might be introduced in the United States within the next three to six months, according to sources close to negotiations between the Securities and Exchange Commission and Bear Stearns Asset Management Inc. of New York.
Higher volatility is overdue, says Wilshire
Active managers that thrive on volatile markets soon may get their day in the sun. Recent data from Wilshire Associates Inc. in Santa Monica, Calif., show just how long those managers have waited.
Holtz to join Ave Maria advisory board
The Ave Maria Mutual Funds in Bloomfield Hills, Mich. is replacing a baseball legend with a football legend on its advisory board.
Van Eck debuts Russian ETFs
Van Eck Associates Corp. of New York today announced it had launched the first exchange traded fund to offer investors exposure to Russian companies.
Smith Barney creates ETF model portfolios
New York-based Smith Barney’s Consulting Group has launched eight model portfolios that invest in exchange traded funds: the CG Select ETF Allocations.
Vanguard registered actively managed fund
The Vanguard Group Inc. of Malvern, Pa., has registered to offer an actively managed exchange fund, according to the Wall Street Journal.
ICI throws its weight behind advisers
The mutual fund industry’s powerful trade group is stepping up its support of financial advisers.
Early tallies are in: Fund firm workers give Obama boost
BOSTON — Sen. Barack Obama took in at least $49,185 from employees of the 20-largest U.S. mutual fund groups and related companies in the first quarter, more than any other 2008 presidential candidate.
