October sales of new homes fell an estimated 5.3% to their lowest level in 17 years, the Department of Commerce reported today.
Socially conscious funds are one of the highest growth areas of the mutual fund industry and have outperformed their peers in recent time periods, according to a study released today by New York-based Lipper Inc.
The fund, UBS' first, offers a range of investment options, including exchange traded fund portfolios, mutual funds and separately managed accounts.
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.
Sales of existing homes fell 3.1% in October to a 4.98-million-unit annual rate, as the stock market downfall and the weakening economy caused homebuyers to stay on the sidelines, according to the National Association of Realtors.
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.
The global economic meltdown has walked back the hedge fund industry to where it was at the end of 2006, according to the latest data from Hedge Fund Research Inc. in Chicago.
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.
Building-permit authorizations in October fell 12% from September to 708,000 —the biggest drop in 26 years, according to the Department of Commerce.
The Municipal Securities Rulemaking Board has submitted a plan for approval by the SEC today to collect and disseminate critical market information about auction rate bonds and other variable-rate municipal securities.
Homebuilder sentiment in November sank its lowest level since January 1985, as shaken builders seek assistance from a higher power.
In a bid to boost its lagging fund performance, Putnam Investments of Boston announced today that they are merging six equity funds, moving away from team management and firing 12 portfolio managers.
Despite the wild markets, investors are not abandoning stock mutual funds.
