The value of the combined assets of US mutual funds fell by $109.4 billion, or 1.3 percent, to $7.998 trillion in January, according to the Investment Company Institute's official survey of the mutual fund industry. Long term funds stock, bond,
The Deutsche Borse XTF segment for exchange traded index funds got a little bigger today with news that six new exchange traded funds (ETFs) issued by Barclays Global Investors (BGI) are listed. The collection includes the first ETF on a
HSBC Investment Management has linked up with global asset manager Partners Group to launch the HSBC Partners Group Global Private Equity Fund. Aimed at private clients and smaller institutions, the Fund offers access to partnerships and funds in the private
Higham Group, the provider of outsourced administration services to the UK life assurance and pension industries, has acquired Dunnett Shaw, a management and IT consultancy to the same sector. Dunnett Shaw provides administration consultancy services to product providers, third party
Fidelity Investments has expanded its Fund Partner Programme, the open architecture platform for Defined Contribution (DC) pension clients. By adding two new external managers it has doubled the number of funds now available. Fidelity says further companies are lined up
The Oslo Bors is planning to list Exchange Traded Funds (ETFs). Trading is unlikely to start before 4 March.
The Canadian Ministry of Finance, which in December last year published proposals to extend withholding tax to certain capital gains and returns of capital made by Canadian mutual funds to non resident investors, says the change will take effect retrospectively
The Guernsey Financial Services Commission (GFSC) has streamlined the approval process for both open and closed ended funds aimed at sophisticated investors. The GFSC has undertaken to grant the necessary fund approval within three days of receipt from an appropriately
Consultants BearingPoint have "announced" that they will "begin offering technology related operational and regulatory response services to the retail investments sector, in response to market demand for products that address the increasing compliance burden companies are facing." The services, called
At the end of 2004, nearly half of all U.S. households 92 million Americans own mutual funds, across a broad range of funds. Overall, total industry assets were a record high $8.1 trillion, invested in more than 8,000 mutual funds.