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.
Exchange Traded Funds may have only accounted for 17% of all fund launches in 2004, but at year end those funds accounted for 26% of assets under management, FRC has said. No doubt ETFS were helped by the macro launch
Rathbone Unit Trust Management Limited (Rathbones) has joined the EMX Message System. "Some major Intermediary players, for whom the EMX Message System is now the preferred method of transacting business, have been strong advocates of Rathbone Unit Trust Management coming
The Managed Futures Association has posted the following letter on its Web site in response to the US SEC's efforts to revamp the national market system. As the leading trade association representing the hedge fund industry, we share the SEC's
Like its European counterpart, the Hong Kong mutual fund industry is having to adapt to the implementation of the UCITS III Directive by the member states of the European Union in the first half of this year. It is estimated
Marsh & McLennan has agreed to pay $850 million to settle charges it conspired with insurers to rig bids. The settlement sent Marsh shares up 4.5 percent, by ending a battle with New York Attorney General Eliot Spitzer, who accused
BISYS has expanded its retirement planning tools to include a retirement education and communications programme. The new program, U Singles, aims to help increase 401(k) plan enrollments and deferral rates, encourage diversified asset allocation, and motivate plan participants to take
UK retail fund managers Lloyd George Mangement have joined the EMX Message System. According to the company, the decision followed "encouragement" from their distributors. "A number of our intermediaries have encouraged our entry onto the EMX platform and we are
The U.S. Securities and Exchange Commission (SEC) is looking into a possible civil injunction and or administrative proceedings against Citigroup Asset Management, Citicorp Trust Bank, former asset management unit Chief Executive Thomas Jones and three other people. Citigroup said the
Investors would still opt for fixed income over equities, according to research from UK fund house New Star Asset Management. The research, conducted in association with NMG research, surveyed 641 seasoned investors as to what fund they would choose if