The New York Stock Exchange and the Nasdaq will be shut down January 2 for a national day of mourning for the death of former President Gerald Ford, but The Depository Trust&Clearing Corporation (DTCC) said it would still clear and settle trades from earlier market activity.
Evergreen Investments, a unit of Wachovia Corporation, agreed to pay a $4.2 million civil penalty to settle National Association of Securities Dealers (NASD) allegations that it adopted improper mutual fund sales methods.
Ten private equity firms have teamed up to educate policymakers in Washington, DC about their business.
Rising market values continued to lift mutual fund assets last month, but new cash inflows were down from October’s pace.
The Department of Labor’s (DoL) September proposal governing qualified default investment alternatives (QDIAs) evoked applause from the retirement industry, but that approval was soon followed by a flood of suggestions on ironing out the kinks before a final proposal is inked.
Fidelity Investments launched four new sector funds Tuesday available through financial advisers, increasing the total of Fidelity Advisor funds to 92, including 14 sector funds or Focus Funds.
With the Dow Jones Industrial Average at new record levels and the S&P 500 at highs not seen since 2000, 401(k) participants have begun to respond and net transfers favored equities on 62% of the days during the month, according to the Hewitt 401(k) Index.
Returns from the world’s emerging and developed markets stayed in the black in November as oil prices remained significantly below their summer highs, Standard&Poor’s said Tuesday.
A new survey of the US hedge fund industry found it has grown 21% to $1.22 trillion this year.
A recent survey from New York Life Investment Management (NYLIM) found participants confident in their 401(k) investment decisions, but still not sure their savings will last in retirement.
Stock and bond funds experienced net inflows of $29.8 billion in October, led by International/Global funds with net inflows of $14.4 billion and Domestic Equity funds with an $8.4 billion net intake, according to data from the Financial Research Corporation (FRC).
American Funds has made its inaugural step into the target date fund market by adding nine funds to its retirement fund lineup.
IndexIQ has launched a series of new families of indices for institutional and high net worth investors.
Wilmington Trust has announced the addition of two new fundamentally weighted mutual funds to its lineup of domestic equity funds.
Morningstar, Inc., announced Wednesday it will collect net returns, in addition to the gross returns, for its collective investment trusts and will provide monthly rankings and Morningstar Ratings against a peer group of mutual funds.
Assets of US mutual funds continued their upward march in October, adding $286.6 billion, or 2.9%, to total over $10 trillion, according to the Investment Company Institute's (ICI) official fund industry survey.
The total combined assets of the nation's exchange-traded funds (ETFs) shot up 9.4% to $383.3 billion in October, according to an Investment Company Institute (ICI) news release.
Legg Mason has announced it will offer "R" shares for 11 of its mutual funds, effective December 1, 2006.
While the number of net transfers by 401(k) participants was equally split among fixed income and equity funds for the month of October, overall net assets moved toward equities, according the Hewitt 401(k) Index.
State Street Global Advisors Inc. (SSgA) has filed papers with the Securities and Exchange Commission (SEC) signaling its intention to halt redemption fees from its international and high-yield funds beginning in 2007.