It looks as if Barclays’ iShares exchange traded fund business will be sold to a Luxembourg-based global private-equity firm.
Fee-only financial advisers were unhappy to learn that 12(b)-1 fee reform — once a top priority for the Securities and Exchange Commission — is on hold, but others in the investment management industry, specifically those in the brokerage community, welcomed the news.
A Brooklyn financial adviser filed a complaint has filed with the New York State Office of the Attorney General on behalf of clients who haven’t received the final distribution from the liquidation of a money market mutual fund offered by Reserve Management Co. Inc.
DWS Investments plans to liquidate three of its 77 mutual funds on June 5, according to a filing this week with the Securities and Exchange Commission.
Although the Securities and Exchange Commission is eyeing regulatory changes for money market mutual funds, industry observers are not expecting stricter standards than those adopted by the Investment Company Institute last week.
Fidelity Investments said that it will reopen the Fidelity Diversified International Fund (FDIVX) and the Fidelity Small Cap Stock Fund (FSLCX) to new investors March 30 and launch the Fidelity Global Commodity Stock Fund on March 31.
Hennessy Advisors Inc. today launched two large-cap funds after acquiring the assets of two funds with combined assets of $158 million from Voyageur Asset Management Inc.
Reacting to asset declines from the market downturn, The Vanguard Group Inc. is increasing expense ratios.
The possibility that Barclays' iShares exchange traded fund business could be sold to another big ETF provider, reducing competition by creating an industry behemoth, is worrying advisers.
Janus Capital Group Inc. paid its chief executive $7 million in 2008, including a bonus, which represents a 27.8% pay cut from the previous year, according to a proxy statement filed with the Securities and Exchange Commission yesterday.
The Vanguard Group Inc. is offering what it says is the first of its kind: a fund that offers exposure to small-cap stocks in both emerging and developed markets outside the United States.
A case involving how mutual fund management advisory fees are charged will be heard by the U.S. Supreme Court this fall and could result in lower fees for shareholders.
The Investment Company Institute is proposing sweeping changes to restore confidence in the $3.9 trillion money market mutual fund industry.
More layoffs are expected at American Funds this year, although the announcement will not be finalized until June.
Investors who are still awaiting payouts from Reserve Management Co. Inc. — the New York-based firm whose $63 billion money market fund "broke the buck" last year — appear to be taking matters into their own hands.
Individuals who invest for themselves — without the help of a financial adviser — show more awareness and commitment to exchange traded funds than their adviser-directed peers.
The Vanguard Group Inc. led all mutual fund companies in sales last year, according to new data from Financial Research Corp.
Janus Capital Group Inc. yesterday said that its trustees approved a proposal to merge its two retail-fund series.
Federated Investors Inc. of Pittsburgh today announced the launch of three mutual funds.
Five closed-end mutual funds advised by Pacific Investment Management Co. will redeem an additional $225 million in illiquid auction rate securities.
