In what might come as a surprise to the organization's members, the head of the mutual fund industry's biggest trade group last week said that he supports the idea of requiring all financial advisers to act as fiduciaries.
Fidelity Investments filed yesterday with the SEC to launch a series of target date funds that will be available to certain 401(k) plan customers at below retail cost.
Two major forces are behind the dramatic growth in popularity of exchange traded funds: the wide-spread adoption of fee-based advice and the prolonged 10-year bear market’s effect of destroying the “mutual fund manager” myth.
Legg Mason Inc. said Thursday it will record a $610 million charge to reflect elimination of exposure to risky structured investment vehicles in its money market accounts.
Insurer Old Mutual PLC reported Wednesday a 30 percent drop in 2008 profits as its U.S. Life unit made a large loss, hurt by the collapse of financial institutions such as Lehman Brothers and Freddie Mac and Fannie Mae.
Smith Barney's exclusive deal with Legg Mason to distribute funds run by Bill Miller has come to an end.
T. Rowe Price Group Inc. has restructured its equity leadership, elevating two top portfolio managers into new posts overseeing domestic and international equities.
Investors worldwide pulled money out of stock funds last week at levels last seen in mid-October.
Harbor Funds of Chicago launched a new global fund to its lineup today.
Publicly traded asset management companies tend to lead market recoveries, but the fast and brutal decline in mutual fund assets makes the firms' ability to front a recovery doubtful.
Neither investors nor their advisers are feeling particularly positive these days, according to research conducted by OppenheimerFunds.
Standard & Poor's of New York today revised upward its fund volatility ratings on 10 U.S. offshore and European fixed-income funds.
A money-market mutual fund that notoriously "broke the buck" has set aside a $3.5 billion reserve to cover litigation costs and damages.
President Obama’s proposal to raise taxes on affluent households, detailed in his budget plan today, could be a boon for tax-managed mutual funds.
While it’s not wise to change your entire mutual fund investment strategy based on recent performance, it may be time to consider some alternatives like ETFs.
Fidelity Investments plans to increase its presence in the municipal-bond market, firm executives said in an interview.
Congress today commenced an effort to determine whether legislation needs to be enacted to protect the retirement security of the country's aging population.
E*Trade Financial Corp. has closed its line of four index funds with liquidations to take place no later than March 27.
Eaton Vance Corp. said Wednesday its fiscal first-quarter profit shrank by more than half.
Navy Federal Asset Management LLC today announced the launch of a new managed account platform in partnership with FundQuest Inc. of Boston.
