Mutual Funds Investment Products

News

Regulators Fine Mortgage Co., Including Stakeholder Peter Lynch

Faces $85,000 Fine

Equity Mutual Funds Lose $43.3 Billion Already in October

$60 Billion Flowing Into Money Market Funds

Justice Dept. Probes Lehman Collapse

Subpoenas Examine Disclosures, Conversations with Putnam, Other Fund Cos.

Reserve Throws in the Towel

Liquidates 18 Remaining Funds Soon After Applying for Treasury Guarantee

Money Market Funds Gain Another $49.39B

Majority Comes From Taxable Assets

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Articles

Week in review

TD Ameritrade Supports Primary Fund With $50M TD Ameritrade announced Wednesday that it will kick in an additional $50 million to support investors in Reserve Funds' Primary Fund, whose net asset value fell to 97 cents.

Executive Moves

Putnam's Investment Chief Cronin Stepping Down Kevin Cronin, head of investments at Putnam Investments for the past three years, tendered his resignation, effective Oct 1, for personal reasons, the firm said.

Baby Boomer Retirements May Create Labor Crunch

The labor supply may experience shortages in coming years as more Baby Boomers retire, according to a study by KPMG. The firm found there is a lack of Generation Y workers to replace those who are expected to retire in the years ahead. That could lead to a lack of consumer spending and a contraction in the tax base.

Extraordinary Cooperation Puts End to Run on Funds

In the face of the nation's financial crisis, our industry has shown tremendous cooperation and fortitude, and we have its top leaders and trade association to especially thank for the sound direction they have so rapidly given to investors and the federal government in recent days. With a $186.6 billion run on money market mutual funds in the week ended Sept. 19, there was a real danger that investors could have lost confidence not only in money market mutual funds but in all investment classes, and run en masse for the exits.

Run on Money Funds Ends, But Investors Shift From Prime to Treasuries

Investors poured $19.64 billion into money market funds Wednesday, $26.2 billion Tuesday and $1.5 billion Monday, after yanking $186.6 billion, or 6.1%, out of money mar¬ket funds the five business days prior, according to Crane Data. By comparison, money market funds had given up just over $7 billion the pre¬vious week. Money fund assets, currently at $3.398 trillion, according to the Investment Company Institute, remain up by $178 billion, or 8.1% year-to-date and still show a huge increase-$529 billion, or 18.4%-over the trailing 52 weeks. The run on money market funds that had the Federal Reserve warn¬ing that credit markets were in danger of freezing up worldwide, appears to be over.

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