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Fund anti-abuse provisions set to take effect
With the deadline for complying with the rule that governs agreements between them just a week away, mutual fund companies and intermediaries are busy ironing out last-minute wrinkles.
ETF industry chugs along with new products
PHILADELPHIA — The exchange traded fund industry is tripping over itself to come out with new buzz-worthy products.
Changes in 401(k) world may open the door for ETFs
NEW YORK — Although exchange traded funds are growing at a torrid rate, with a new offering almost daily, one area where ETF growth has been slow is in retirement accounts.
Awards may bring fame, fortune to fund companies
Summit Mutual Funds’ Gary Rodmaker, in tuxedo and bow tie, was quite a sight rounding Manhattan’s Columbus Circle in a bicycle taxi on his way to accept a trophy at last month’s Lipper Fund Awards 2007.
Fidelity merging 2 small funds into larger ones
BOSTON — Fidelity Investments, the biggest U.S. mutual fund firm, plans to merge Fidelity Advisor Korea Fund and Fidelity Nordic Fund into two larger, more diversified funds in an effort to provide less volatile returns for fund shareholders.
Wealthy households show independent advisers the money
BOSTON — Independent advisers are used by 22% of millionaire households, and those advisers on average hold 56% of the millionaires’ investible assets — the largest share among financial service providers, according to a survey released last Monday by Fidelity Investments.
Market fears may lure investors to money funds
Stock market volatility and worries that more bad news from the housing sector could threaten the U.S. economy’s prospects for a soft landing are likely to make 2007 “a dynamite year” for money fund inflows, a well-known money fund expert said last week.
Labor Department weighs in on fee brouhaha
WASHINGTON — The Department of Labor has put the issue of enhanced 401(k) fee disclosure on its agenda, a move that could take some of the wind out of the sails of a legislative threat.
Funds hit by lenders’ problems
It’s unlikely that the crisis in the subprime-mortgage market is going unnoticed by some prominent mutual fund managers.
SSgA retools sales force in bid to boost ETF sales
As exchange traded funds proliferate, ETF producers are getting more aggressive when it comes to pitching product.
Index provider role may cross advice line
As indexes developed specifically for exchange traded funds proliferate, so do concerns about potential conflicts of interest that may exist when index providers reach for extra performance.
ETF industry sees birth of more rating services
The number of companies that rate exchange traded funds — and the methods they use to rate them — is growing.
American: Expect flows to slow
Buoyed by the firm’s popularity with financial advisers, net inflows at American Funds have dwarfed its competitors’ over the past five years.
Advisers cool to Fidelity move to expand performance fees
Fidelity Investments’ plan to subject more of its adviser-sold mutual funds to performance-fee adjustments got a chilly response last week from some financial advisers who said such incentives could encourage funds to take on too much risk.
New ETFs highlight belief that simple is good
PHILADELPHIA — WisdomTree Investments Inc. of New York is betting that when it comes to fundamental indexing — indexes weighted not by market capitalization but by other factors — the simpler, the better.
ETFs seek appeal among hedge funds
The Vanguard Group Inc., which long has espoused the virtues of buy-and-hold investing, is encouraging hedge funds — which rank among the most frenetic of investors — to invest in its exchange traded funds.
Waddell coy on prospects for a sale
Waddell & Reed Financial Inc., an asset management firm started by two World War I pilots, is winning its turnaround battle so far, but some observers say that the upshot ultimately will be to fix it or sell it.
Early returns at Magellan, Janus Worldwide promising
BOSTON — Although it is too early to tell whether their winning streaks will continue, Fidelity Magellan Fund and Janus Worldwide Fund — two large mutual funds that have struggled to beat their benchmarks of late — are off to decent starts in 2007.
Barclays targets REITs, but timing may not be right
PHILADELPHIA — Real estate investment trusts have outperformed the broad market for seven years, so it isn’t surprising that exchange traded fund providers want in on the action.
‘Empty voting’ ploy used by hedge funds is on SEC’s radar
The practice of borrowing company stock to manipulate the outcome of company votes has piqued the interest of the Securities and Exchange Commission and has rekindled a debate over stock lending.
