Nearly half of all US households 92 million Americans own mutual funds, and they are worth nearly $8 trillion, says a report from the Investment Company Institute (ICI), the national organisation of the US mutual fund industry. As of November
The Bank of New York has been awarded Montpelier Re's stock transfer business. This appointment expands the Bank's existing relationship with Montpelier, which includes acting as custodian and securities lending agent. "Whereas many companies are exiting the stock transfer business,
Wrap platforms provide a golden opportunity for UK IFAs to transform the value of their businesses, according to Abacus director David Ferguson. Ferguson says wraps will enable IFAs to gain appropriate value for their efforts of the past 20 years
A German amnesty for tax evaders brought in Euros 902 million ($975 million), according to a Bloomberg report. German banks, which focused efforts on the Cayman Islands and Liechtenstein, said that tax evaders had as much as Euros 300 billion
The International Organisation of Securities Commissions (IOSCO) is pressurising offshore financial centres to help regulators more readily when they are investigating wrongdoing by individuals and companies. IOSCO is promising a "dialogue" with offshore financial centres will start this month after
BISYS has established an alliance with the College for Financial Planning, a provider of training for IFAs in the United States. BISYS, which has a sizeable training business, will work with the College to prepare IFAs for Chartered Retirement Planning
HarbourVest Partners, LLC, a leading global private equity investment firm, has backed Nova Capital Management to acquire and manage the assets of the West LB Growth Fund from West LB. Nova, the specialist management company for private equity and venture
European Fund Administration (EFA) has signed an agreement with Valletta Fund Management (VFM) giving access to EFA's new TA platform. As part of the agreement VFM has a secure and fully segregated remote access to a defined part of EFA's
PowerShares Capital Management has launched a diversified fund consisting of 43 U.S. listed stocks that derive the majority of their revenues from the People's Republic of China. The PowerShares ETF (Amex PGJ) is made up entirely of U.S. exchange listed
Baring Asset Management (BAM) says three factors have changed on the economic front which will have huge significance for investors this coming year. First, and most important, monetary policy in the US has moved to a tightening mode, along with