Franklin Templeton adds first alternative ETF; Innovator launches four power buffer ETFs; Vanguard announces lowered expense ratios on several ETFs; and more.
Once a federal judge dismissed the breach of fiduciary duty claims, she found most defendants were not fiduciaries with respect to the remaining claim.
Wilmington Trust subsidiaries were found not to be fiduciaries, but other claims against the M&T Bank retirement plan committee were moved forward.
Greg Porteous, head of defined contribution intermediary distribution at SSGA based in Boston, says he sees the lowering of target-date fund (TDF) investment fees as a way to attract more 403(b) plan clients for two reasons.
The lawsuit claimed the excessive compensation received by PIMCO officers through the PIMCO Total Return Fund was so disproportionately large that investment returns suffered.
The Investment Company Institute also found 401(k) plan participants investing in mutual funds tend to hold lower-cost funds.
One day after a complaint was filed, Philips North America agreed to pay $17,000,000 to settle the lawsuit questioning its failure to offer a stable value fund and less expensive share classes and investment vehicles for other funds.
oekom Research Joins ISS, Renames Brand; T. Rowe Price Releases Multi-Strategy Fund; BNY Mellon Launches Core Plus Fund; and more.
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Plan fiduciaries have been charged with breaching their fiduciaries duties under ERISA by selecting more expensive share classes of investments than were available to the plan.