The National Association of Active Investment Managers Inc. has launched an index of actively managed mutual funds that performed well during last year’s market downturn. The Littleton, Colo.-based trade association — which represents some 200 registered investment advisers, including some who offer mutual funds — created the index out of funds offered by its members. The Actively Managed Fund Index comprises 21 funds that outperformed the Standard & Poor’s 500 stock index by at least 15% in 2008 and 16% over the two-year period ended Dec. 31. The top three performers in the NAAIM AMF Index are TFS Market Neutral (TFSMX), offered by TFS Capital LLC of Richmond, Va. and Direxion Spectrum Select Alternative (SFHYX) and Direxion PSI Total Return (DXTRX), both offered by Direxion Funds of Boston. The funds also outperformed nearly 20,000 actively managed mutual funds, excluding money market and bond funds, tracked by the Chicago-based research firm Morningstar Inc. by more than 15%, the NAAIM reported. The association will update the index performance monthly on its website, naaim.org. The association’s member firms represent an estimated $17 billion in assets under management.
RIA aggregator adds $4.8 billion in client assets across seven states as demand grows for alternatives to traditional succession models.
As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management
Shareholder targets FS KKR Capital's directors over alleged portfolio valuation and dividend missteps.
UBS has a history of costly litigation stemming from the sale of volatile investment products.
New director David Woodcock puts firms on notice over fees, conflicts, and liquidity risk as private credit shows signs of stress.
As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management
Growth may get the headlines, but in my experience, longevity is earned through structure, culture, and discipline
