Results for "mutual funds"

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Legg Mason stumbles

December 3, 2007

These days, Legg Mason Inc. is a bit weak in the knees. The Baltimore-based mutual fund company, which acquired the money-management group of New York's Citigroup Inc. last year, is battling significant outflows of cash from some of its largest...

Fund redemption fees may be on their way out

December 3, 2007

As the market-timing scandals recede into financial history, the cautionary practices instituted in their wake could face the same fate. Redemption fees, a deterrent against rapid-fire trading, are slowly being reduced and, in some cases, eliminated....

Lockwood plans a UMA with an income guarantee

December 3, 2007

An insurance policy that provides an income guarantee to holders of a unified managed account at Lockwood is in registration at the Securities and Exchange Commission. Known as a Guaranteed Retirement Income Solution, the insurance policy is...

ICI is likely to prevail in its effort to end ETNs' tax break

December 3, 2007

The Investment Company Institute, the powerful mouthpiece of the mutual fund industry, is trying to torpedo the tax advantages of exchange traded notes, and industry insiders think that it has a pretty good chance of being successful. "I think...

Bear funds starting to roar

December 3, 2007

Bear market mutual funds have come out of hibernation. For the 30 days through last Monday — the day major stock market indexes ended 10% down from their October peaks, signaling a market correction — the bear fund category had risen 11.27%,...

Mutual fund/insurance hybrid on the horizon

November 26, 2007

As early as next year, retirees may see a new hybrid investment product that blends mutual funds with insurance guarantees, possibly signifying an alliance between the two industries. "[Asset managers and insurance companies] are trying to provide...

Gen Xers have need for advice but are off radar

November 26, 2007

While many of the 45.8 million people born between 1965 and 1975 would like help with investing, the 32- to 42-year-old members of so-called Generation X probably won't be receiving much attention from financial firms anytime soon. "There is...

Fidelity funds abstain on some proxy resolutions

November 26, 2007

Top funds operated by Fidelity Investments stopped voting against shareholder resolutions that urge disclosure of corporate political spending for the 2007 proxy season, according to a study by a group that advocates for transparency in political...

Vanguard push for fair-value-pricing indexes falls on deaf ears

November 26, 2007

Extending the practice of fair-value pricing to indexes is being proposed to create better benchmarks, but some index providers aren't buying that idea. Fair-value pricing is common practice among mutual funds to thwart those who exploit stale...

3 for the money: Fund giants dominate

November 19, 2007

With three mutual fund giants well on their way to capturing nearly 40% of all U.S. fund assets, thousands of smaller fund companies are left competing for the rest, and some even contemplate exiting the business. At the end of September, American...

New fund investing in infrastructure

November 19, 2007

Kensington Investment Group Inc. in Orinda, Calif., makes a strong case for being uniquely suited to manage the first open-end mutual fund focused on the development and reinforcement of a worldwide infrastructure. Aaron Visse, manager of the...

IDC: Independence rule unnecessary for boards

November 19, 2007

Fund boards have adopted governance practices that are thought to serve the best interests of shareholders "in advance, or in the absence, of any regulatory mandate to do so," according to a new study from Independent Directors Council. The...

Subprime problems are hitting money funds

November 19, 2007

Money market funds usually are as boring as it gets in the investment business. They are cash, after all, plus a minuscule rate of interest, that mutual fund companies make available with instant liquidity. Lately, however, money market funds...

401(k)s boost mutual fund ownership

November 14, 2007

Nearly 51 million Americans currently households own mutual funds, representing 44% of all households and 88.2 million individual shareholders, reported the Investment Company Institute in findings released today. Mutual fund ownership remained...

Advisers skeptical of funds aimed at retirees

November 12, 2007

As more products that aim to deliver regular payouts in retirement hit the market, many advisers are taking a wait-and-see approach before recommending them to their clients. "There is some skepticism around them," Chuck Gibson, president of...

Subadvisers are grabbing larger piece of the market

November 12, 2007

Competition and demand for the best asset managers are fueling a growth in subadvised funds, which are gathering assets faster than those managed internally. Assets in subadvised funds grew at a compound annual rate of 27% from 2003 to 2006,...

Multimanager approach makes inroads at Fidelity, Janus

November 12, 2007

Although Fidelity Investments and Janus Capital Group Inc. recently designated multiple managers for specific portfolios, neither firm is abandoning their individual-portfolio-manager system. The majority of Boston-based Fidelity's 425 mutual...

Fund trustees said to favor repean of 12(b)-1s

November 12, 2007

Many mutual fund trustees would like to repeal the Securities and Exchange Commission's 12(b)-1 regulation that allows mutual funds to use fund assets to pay for marketing, a Washington lawyer who represents mutual funds reports. "Many board...

Fidelity unveils three mutual funds

November 7, 2007

Fidelity Investments of Boston today launched three new mutual funds: one fund for investing in developed international and emerging markets; an international style-consistent growth fund; and an asset allocation fund. Fidelity Total International...

Funds with redemption fees can't be QDIAs

November 5, 2007

Mutual funds that charge redemption fees will not qualify as default investments under the Department of Labor's recently announced final rules. "The final rule provides that no redemption fee may be imposed during the first 90 days of a de-faulted...

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