Among the top five providers of exchange-traded funds, Vanguard is the only one to make gains in 2010, climbing 10 percentage points to become a true iShares challenger.
Eighth week of positive inflows, with 1H10 flows topping $19 billion.
Outside of currency and fixed-income plays, active exchange-traded funds are struggling to gather meaningful assets.
Outflows slowed to $597.3 million the week ending Aug. 23 after hemorrhaging $4.99 billion the week before, according to the Money Fund Report, a service of iMoneyNet.com. Total assets declined slightly to $340.75 billion from $341.34 billion.
Investment funds, lawmakers and other fund experts say that target-date funds need to increase the amount of information they provide investors to understand their investment risk. But they dont want the Securities and Exchange Commission to change the way the funds are named.
Managers look to position their portfolios for a low-rate environment.
An 'empowered investor base' insisting on more transparency and liquidity from managers, as well as absolute returns and uncorrelated investment strategies, has led to a spike in demand for alternative mutual funds, a report concluded. American and European investors funneled more than $110 billion into the alternative strategies in 2009, according to SEI, which issued the report with Strategic Insight.
JPMorgan, consistently one of the top municipal bond underwriters, has been responding to increased appetite in the market recently by expanding its retail networks, marketing taxable munis for international distribution, and bulking up its public finance staff. The firm has ranked third among muni underwriters in the country over the past five years. From January through May, JPMorgan senior-managed 158 issues worth $20.8 billion, ranking it third with a 12.3% market share, compared with an 11.4% share last year, according to Thomson Reuters.
IRS Probes 401(k) Compliance, SEC Proposes Consolidated Audit Trail for SROs, SEC Warns of Stock Scams Related to Gulf Oil Spill, Funds Bleed $16.6 Billion, Banks Have High Hopes for Simpler Annuities, MFS CIO Swanson Says Global Recovery Has Legs, and BoA Enhances Retirement Platform for Small Biz.
BOSTON -- Money Management Executive Publisher Michael Stanton presented the 2010 Fund Operations Awards on May 20 at NICSA's General Membership Meeting at the Downtown Harvard Club here.