Legg Mason Inc. will take new charges to provide support for its struggling money market funds, a move that will force the company to take a loss in the fourth quarter.
Actively managed exchange traded funds, which were introduced this year, haven't caught fire, but that didn't stop Invesco PowerShares Capital Management LLC from launching its fifth such ETF last month.
The Vanguard Group has added Frontier Capital Management and Kalmar Investment Advisers to manage its Vanguard Morgan Growth Fund. The two replace Franklin Portfolio Associates in managing about 20% of the $6.4 billion fund.
They are the first ETFs in the United States to provide short exposure or leveraged exposure to commodities or to the euro and the yen, according to a statement from ProFunds.
Nuveen Investments Inc. will acquire Winslow Capital Management Inc., an investment manager that specializes in managing large-cap-growth-stock portfolios for institutions and high-net-worth investors.
Disclosures for managed-payout mutual funds — launched in the last year to help retirees manage income — must make it clear that unlike annuities, such funds do not guarantee income.
Fidelity Investments' decision last week to replace the head of its adviser unit with an executive from Morgan Stanley is another sign that the former is serious about recruiting more breakaway brokers.
Mutual funds fees will be going up next year, with market turmoil likely to be the main culprit.
In the current economic maelstrom, exchange traded funds are beating mutual funds in the fight for investor dollars — a battle that will have long-term implications for the asset management industry.
Reserve Management Co. Inc. has announced that its U.S. Government Fund is now covered by Treasury’s temporary guarantee program for money market funds.
The PowerShares Active U.S. Real Estate Fund (PSR) seeks to provide high total return by investing in publicly traded U.S. real estate companies, selected using a proprietary stock selection model.
T. Rowe Price Group Inc. of Baltimore has launched two funds aimed at providing investors with exposure to the markets in Europe, Asia and the Americas.
Despite the wild markets, investors are not abandoning stock mutual funds.
Investors are shifting away from mutual funds toward certificates of deposit, variable annuities and exchange traded funds, according to a study that will be released next month.
Small- and mid-size record keepers that administer 401(k) programs for providers are concerned that a plan to ensure that mutual funds are not being "market timed" will be so expensive to oversee as to put some of them out of business.
Amid shrinking assets and a flood of redemptions, mutual funds that were closed to new investors are rolling out the welcome mat again.
A panel that is charged with recommending changes to the ways money market mutual funds operate is being met with skepticism by money fund experts who worry that changes might be unnecessary.
For the five-year period ended June 30, the S&P 500 outperformed 68.6% of actively managed large-cap funds.
The Reserve Management Co. Inc. said yesterday that it has begun the initial $4.5 billion distribution to shareholders of its U.S. Government Fund.
