Investors in taxable mutual funds paid 56% more in taxes on their fund holdings in 2006 than they did in 2005, according to a report released today by Lipper Inc.
State Street Corp. posted an 11% increase in net income on stronger servicing and investment management fees, which boosted revenue to a record level.
Wachovia Corp. shareholders have approved two proposals by the company's board that will affect how directors are elected and how often.
Jefferies Group Inc. announced record quarterly investment banking revenues, net revenues, net earnings, and earnings per share, according to a statement released today.
Proponents of health savings accounts and their mandatory high-deductible health insurance plans have come out swinging against a study concluding that the plans cost women about $1,000 more per year than men.
WisdomTree Investments Inc. is planning to roll out a platform designed to get exchange traded funds into 401(k) plans.
The IRS plans to issue final regulations for 403(b) plans by the end of June, and the changes could result in industry consolidation, particularly in the K-12 marketplace, observers said.
Along with the layoffs and cost cutting unveiled last week by Citigroup Inc. came rumors that the company’s Smith Barney brokerage unit was destined for a spinoff.
Most financial advisers wouldn’t expect to find health insurance in the same store where they buy lumber and fertilizer, but it turns out that the folks in orange aprons really can help with just about anything.
The radical notion of abolishing mutual fund boards and allowing funds to set their own prices may be worth a second look, according to the head of a group representing independent fund directors for the $10.4 trillion fund industry.
