Gartmore Group Plans London IPO to Cut Debt, Raise Cash for Shareholders Nov 21, 2009
8 billion pounds ($36 billion) in hedge and mutual funds, is preparing an initial public offering of at least 250 million pounds next month to reduce debt ... 9 billion pounds in mutual funds and 6 ... Youre entering a time when its incredibly attractive to buy these products, such as hedge funds and so-called absolute return mutual funds that aim to make money in both rising and falling markets. (Bloomberg -- UK)
Chicago investment firm ups Legg stake Nov 21, 2009
which manages four mutual funds, boosted its stake in the Baltimore money manager to 1. 2 million shares as of Sept. 30, up from 200,750 shares on June 30, according to filings with the Securities and Exchange Commission. (Baltimore Business Journal, MD)
New RBI riders on Essar Tele's issue Nov 21, 2009
Around 20 investors across mutual funds, insurance companies and corporates had subscribed to these bonds. Read business stories in. (India Times)
UTI spreads its wings across overseas markets Nov 20, 2009
LONDON: Who runs the worlds oldest offshore fund set up for foreign investors. Its UTI, with its India Fund set up in 1986, which, according to industry tracker Morningstar, is rated as one of the best performing India funds globally. (India Times)
PMS may be just what the doctor ordered Nov 20, 2009
In 2008, Rajan (name changed) invested Rs 20 lakh in equity mutual funds. When the markets tumbled, he burnt his fingers. (India Times)
MFs up cash holdings in volatile market Nov 20, 2009
COIMBATORE: With the equity markets turning volatile, fund managers have chosen to hold more cash in October. Total cash balances across equity mutual fund (MF) schemes increased 12% to Rs 15,100 crore (about 9% of the corpus) in the month, data shows. (India Times)
PMS protects your capital even in falling market Nov 20, 2009
PMS may be just what the doctor ordered- Analysis-Mutual Funds-Personal Finance-The Economic Times ... In 2008, Rajan (name changed) invested Rs 20 lakh in equity mutual funds. (India Times)
Tatas raise Rs 600 cr from sale of DVRs Nov 20, 2009
Many institutional investors, including Swiss Finance Corporation, Nomura and a host of domestic mutual funds, have bought the DVRs, partly to take advantage of arbitrage opportunities arising out of a difference between prices of the DVRs and the ordinary share. According to market sources, funds have been selling Tata Motors shares and using the proceeds to buy relatively cheaper DVRs in anticipation that the difference would gradually narrow down with the improvement in the companys... (India Times)
Oil Sands Split Trust (TSX: OST.UN and OST.PR.A) Announces Distribution Increase for Third Quarter 2009 Nov 20, 2009
Sentry Select Capital Inc. ("Sentry Select") is a Canadian wealth management company that offers a diverse range of investment products including closed-end trusts, mutual funds, principal-protected notes and flow-through limited partnerships, covering a variety of domestic and global mandates. All capitalized terms used herein, but not defined are as per the Trust's Prospectus. (CCNMatthews Press Releases)
What's Inside Pimco? Nov 20, 2009
Mutual Funds November 19, 2009, 5:00PM EST. What's Inside Pimco. (BusinessWeek)
Trader Vic Says Buy Gold, Aussie Dollar Nov 20, 2009
Mutual funds and several major global banks, including HSBC, Nomura, Merrill Lynch, Royal Bank of Scotland and others, manage about $3. 5 billion using his rules-based formulas, which buy long and sell short commodities and futures. (Investors Business Daily)
Cash for Clunkers: 100% Gainers to Sell Now Nov 20, 2009
Investing ain't Sunday school, it's true, but fundamentals (and, um, fundamentalist investors) will eventually trump a "technical" rally, a rise powered in large measure by the fact that money has begun flowing back into equity mutual funds, and money managers don't get paid to sit on cash. To snip the title from a favorite Fool commentary, the bottom line is this: Danger, horror, get out. (MSNBC -- Business)
What Happens When Your Bank Fails? Nov 20, 2009
But it does not insure stock market investments, municipal securities, annuities, bonds, life insurance policies or mutual funds. What Happens. (Click2Houston, TX)
FII holdings in India Inc rising Nov 20, 2009
"FII inflows have been one of the drivers for the up-move in the markets, pumping in (net) $16 billion into the equity markets in 2009, while the mutual funds continue to remain net sellers in the market. Thus going ahead, there could be a rise in the FII holdings in the ownership of the stocks," Dinesh Thakkar, CMD of Angel Broking, said ... Mutual funds and insurers have also raised their holdings, albeit marginally ... The insurers continue to become dominant players, with equity assets now... (India Times, India -- Intl Business)
Australia, N.Z. Dollars Set for Weekly Loss on Signs Global Rebound Waning Nov 20, 2009
Its possible well see Japanese demand for mutual funds, said , a currency strategist at Forecast Pte in Singapore ... 4 billion) for mutual funds focused on foreign assets today, according to data compiled by Bloomberg. (Bloomberg -- Australia & New Zealand)
Stock questions? Ask Matt Nov 19, 2009
It can screen stocks, mutual funds, exchange-traded funds (ETFs) and market most actives. If that doesn't meet your needs, or you just want to try some other screening tools that are available, either for free or at a price. (USA Today -- Money)
Mutual Funds: Its not about timing Nov 19, 2009
Mutual Funds: Its not about getting the timing right- Analysis-Mutual Funds-Personal Finance-The Economic Times ... Mutual Funds: Its not about getting the timing right19 Nov 2009, 0301 hrs IST, Bakul Chugan Tongia, ET Bureau. (India Times)
Listing time should come down to 7 days: Bhave Nov 19, 2009
We need to look at reducing the cost of mutual funds and risk for investors,'' Bhave said. Over the past few months, a number of initiatives have been taken by Sebi towards bolstering the IPO and mutual fund segments. (India Times, India -- Intl Business)
Ravi Narain, MD, NSE Nov 19, 2009
The other issue is the problem faced by mutual funds to calculate their NAVs ... Here is a ready and tested distribution platform for mutual funds to reaching out to investors. (India Times)
MCCH presents community update at its annual City/County Meeting Nov 18, 2009
Bailey had Bloemer address the question, and he said half of the hospital's investments are in mutual funds and the other half are in CDs and money market accounts. Of the mutual funds, half are equities and the remaining half are fixed-income. (Murray Ledger & Times, KY)
SEC Vote Prohibits Mutual Funds From Directed Brokerage Nov 18, 2009
That includes a plan that would require more disclosure to investors about fees at the point of sale and another that would impose new fees on quick trades in and out of mutual funds. "We now have a system we ought to give a chance to work and see the improvements I hope it will bring," he said. (Yahoo News -- Corporate Reform)
Goldeye Explorations Limited Closes Another Financing With MineralFields Group Nov 18, 2009
Pathway Asset Management also specializes in the manufacturing and distribution of structured products and mutual funds (including the Pathway Multi Series Fund Inc. corporate-class mutual fund series). Information about MineralFields Group is available at. (CCNMatthews Press Releases)
PSBs smell money in MF, insurance sale Nov 18, 2009
MUMBAI: Gone are the days when most public sector banks attached little importance to the prospect of additional fee income by selling financial products, including mutual funds and insurance ... Gone are the days when most public sector banks attached little importance to the prospect of additional fee income by selling financial products, including mutual funds and insurance. (India Times)
IPO funding seen hit by unsecured lending curb Nov 18, 2009
Brokerages have made such borrowings mostly from mutual funds, typically at twice the commercial paper market rate, and then turned around and loaned the funds to rich clients. The wealthy investors, in turn, used the cash to invest in a recent slew of IPOs, fuelling aggressive valuations. (India Times)
Have Indian mutual funds favoured corpo00004000rates over small investors? Nov 18, 2009
Mutual Funds have the expertise of managing products across the risk return spectrum. Correspondingly, for large and small investors, mutual funds offer an opportunity for deployment of savings based on individual risk taking capabilities and corresponding return expectations ... This unique capability of mutual funds has helped individuals and large/institutional/corporate investors enhance significantly their return on savings over the last decade. (India Times)
'IPO processing should take 7 days' Nov 18, 2009
Also, there was a need to reduce the cost of mutual funds and the risk of investors. "We need to look at reducing the cost of mutual funds and risk of investors," Bhave said. (India Times)
Equity-linked debt in RBI glare Nov 18, 2009
The low interest rate on bank deposits and poor return from short-term mutual funds may have increased the appetite for such instruments among many investors, said the treasurer of a foreign bank. Its also possible, according to him, that RBI wants to curb the back-to-back transactions that goes on in offshore markets against these issuances. (India Times)
READ: Bernanke's speech Nov 17, 2009
The Federal Reserve and the Treasury each took measures to stop a run on money market mutual funds that began when a leading fund was unable to pay off its investors at par value. Throughout the fall and early this year, a range of additional initiatives were required to stabilize major financial firms and markets, both here and abroad. (USA Today -- Money)
Mutual financial reliance binds U.S., China Nov 17, 2009
One consequence of the prolonged recession is that Americans are saving more and putting more money into mutual funds that buy U.S. Treasurys so the need for the U.S. government to sell securities externally is gradually being reduced. Click for related content. (MSNBC -- International)
Fidelity MF launches equity fund Nov 17, 2009
MUMBAI: Fidelity Mutual Fund today announced the launch of its Fidelity India Value Fund, an open-ended, diversified equity fund. The company is also looking at launching its international funds in the Indian market, a top company official said here. (India Times)
MF players facing tough time Nov 17, 2009
The market regulator stunned the industry when from August it scrapped the entry load on new investments in mutual funds. Since then there have been a flurry of announcement like parity on exit load on debt schemes, code of conduct for intermediaries, among others. (India Times)
SEBI seeks active role of MFs in governance Nov 17, 2009
MUMBAI: Domestic mutual funds may soon find themselves playing a bigger role in public shareholder activism. In its attempts to get this dominant shareholder group to question actions of companies that are against non-promoter stakeholder interests, the capital market regulator, the Securities and Exchange Board of India (Sebi), has asked mutual funds to come together to question errant companies in such instances ... This is similar to a rule by the US Securities and Exchange Commission (SEC),... (India Times)
Buffett filing shows Exxon Mobil stake Nov 17, 2009
Stock picks by Buffett, the second-richest American, are watched by mutual funds and individuals looking for clues about his investment strategy ... Stock picks by Buffett, the second-richest American, are watched by mutual funds and individuals looking for clues about his investment strategy. (New York Post -- Business)
China, US economies locked in a mutual embrace Nov 17, 2009
One consequence of the prolonged recession is that Americans are saving more - and putting more money into mutual funds that buy US Treasury bonds - so the need for the US government to sell securities externally is gradually being reduced. The Washington Post. (Sydney Morning Herald -- Business)
Buffett's Berkshire Discloses Holdings in Exxon Mobil, Nestle, Travelers Nov 17, 2009
by Buffett, the second-richest American, are watched by mutual funds and individuals looking for clues about his investment strategy. Berkshires biggest stockholding is an investment in worth about $10. (Bloomberg)
MF could give financial inclusion another dimension Nov 16, 2009
The catch here, however, is that while the shares are listed and transacted at the spot price, mutual funds shall be bought and sold at the net asset value (NAV) of the previous day as is the current practice ... It will thus become easier and much more convenient for those placed in remote districts of the country to invest in mutual funds either directly or through their distributors who will have online access to the portal as the portal is not restricted to demat account holders alone... (India Times)
New York Offering Will Lead Biggest Week for Muni Bond Sales Since April Nov 16, 2009
Individual investors can place orders today through banks led by Tomorrow, institutions such as mutual funds can buy the debt, rated AAA by Standard & Poors and AA- by Fitch Ratings. The proceeds will fund projects for state prisons, courts, public universities and police facilities; grants to local governments; and state agency equipment purchases. (Bloomberg -- US)
Supervision on insurance investment stressed in China Nov 16, 2009
"With insurance funds were extended into disparate fields, other than bank deposit, demand for a better supervision and risk control enhanced, said Li at the International Finance Forum held in Beijing. By the end of September, 3.4 trillion yuan (497.8 billion U.S. dollars) of insurance funds were invested in bonds, mutual funds, and stocks markets. Bonds investment alone accounted for 50.6 percent of the total. Jiang Dingzhi, China Banking Regulatory Commission (CBRC) Vice Chairman also... (Xinhuanet, China)
Real estate sector finds a way back into the MF Nov 16, 2009
The equity markets recovering from their lows of Jan 08, so has the perception of the notorious real estate sector, which is finding its way back to the portfolios of a number of mutual funds, wealthy individuals and portfolio management schemes ... At the end of September, mutual funds had invested Rs 1,564 crore in real estate stocks, about 1% of their total assets under management (AUM) ... This resulted in mutual funds offloading whole chunks of realty stocks from their portfolios. (India Times)
ELSS schemes likely to do better in a bear phase Nov 16, 2009
Salaried professionalsa huge investing classuses mutual funds as a tax-saving investment avenue rather than capital appreciation instrument ... According to the Asso 00004000 ciation of Mutual Funds in India (AMFI), as of October this year, there were 258 pure equity fund schemes and just 35 ELSSs. (India Times)
Choosing MFs for your portfolio Nov 15, 2009
However, in the case of mutual funds, the basket of options is relatively smaller when compared with stocks. While stocks run into thousands, the options with respect to mutual funds are in hundreds ... With mutual funds becoming an integral part of a portfolio, it is very important for investors to have the right basket of funds. (India Times)
Nomura Wins Approval to Use Futures for Commodity Funds, Nikkei Reports Nov 15, 2009
Nov. 15 (Bloomberg) -- s asset management unit got approval from regulators to use commodity futures for mutual funds, the Nikkei newspaper reported. Nomura Asset Management Co. has sold commodity funds using structured bonds and overseas mutual funds. (Bloomberg -- Japan)
The bank revolt of '09 Nov 15, 2009
4 percent of assets on deposit in money market mutual funds was withdrawn, the survey found ... 4 percent of assets on deposit in money market mutual funds was withdrawn, the survey found. (New York Post -- Business)
Getting in on the rush Nov 15, 2009
Buying shares of gold-mining companies, Exchange Traded Funds (ETFs) and shares of gold-focused mutual funds are three of the best ways to get in on the gold rush without having to cart it home ... Many gold-focused mutual funds also invest in companies that specialize in other or different precious metals. (New York Post -- Business)
Wonk Watch 11.13.09 Nov 14, 2009
the biggest shareholders of public companies, the mutual funds who typically hold the vast majority of a firms stock on behalf of shareholders, refuses to engage in any corporate governance. " Ritholtz acknowledges the changes in the Dodd proposal, and likes what he sees. "We have been forced into a situation that is intolerable massive taxpayer bailouts of incompetent bankers, with AWOL Boards. (Slate)
Now trade in MF through stock brokers Nov 14, 2009
In case investors desire to convert their existing physical units (represented by statement of account) into dematerialised form, mutual funds/AMCs shall take such steps in coordination with registrar and transfer agents, depositories and depository participants (DPs) to facilitate the same, the market regulator said. Sebi added the disputes between brokers and clients would be handled by stock exchanges. (India Times)
Price-support buys in bear run pay off for corp trusts Nov 13, 2009
Trusts are allotted large sums of long-term money (ploughed back from profits, proceeds of asset sale or a portion of capital raised) that are invested into different asset classes (including shares of other companies, debt papers and mutual funds) at the discretion of trustees. Companies open trusts to meet certain business or social objectives. (India Times)
Mutual funds' expense ratios rise as their assets drop Nov 13, 2009
By John Waggoner, USA TODAY Investors are paying more for many of their stock mutual funds, according to a study by Lipper Analytical Services ... Investors pulled nearly $150 billion from stock mutual funds from November 2008 through March, the worst period of the financial meltdown. (USA Today -- Money)
Investing in multiple funds? Choose FOF Nov 13, 2009
But can you think about a mutual that invests in other mutual funds ... A FoF is a mutual fund that invests in other mutual funds belonging to the same fund house or belonging to other fund houses ... Basically, it is a collection of different mutual funds. (India Times)
India, China are emerging financial giants: IIFL Asia Nov 13, 2009
Proliferation of non-banking products such as insurance, mutual funds and broking provide additional growth avenues for financial services companies. For instance, credit card outstanding as percentage of GDP is 0. (India Times)
Seeking experts' help in buying MF Nov 13, 2009
MUMBAI: Rather than looking at recent and past performances as a parameter for investing into an equity mutual fund, you will do well to make a mental note of a host of qualitative and quantitative factors that a professional at financial management puts before you before recommending which mutual fund to buy. Buying the best performing mutual fund of tomorrow is the aim of all investors, as buying low and selling high is their credo. (India Times)
Puerto Rico's `Dicey' Bonds Beat U.S. States as Fortuno Shrinks Government Nov 13, 2009
Debt of the Caribbean island, whose population of 4 million is about equal to s, is riding a rally in which investors poured a record $55 billion into municipal-bond mutual funds this year, according to the in Washington, D.C.. Fortunos so-called fiscal stabilization plan will have to show results soon to sustain the gains investors have recorded, said , managing director at , a researcher in Concord, Massachusetts. (Bloomberg -- Latin America)
The Lost Decade Nov 12, 2009
Between 1992 and 2000, the percentage of households owning mutual funds doubled, from 24 ... And between 1992 and 1999, the percentage of Americans owning equitieseither through mutual funds or as individual stocksrose from 36. (Slate)
Distributors not game yet for MF fee disclosure Nov 12, 2009
Despite market regulator Sebi mandating distributors to reveal their remuneration from mutual funds for selling a scheme to clients, they are reluctant to do so ... This is a bit surprising considering that distributors are more interested in selling bank fixed deposits and unit linked insurance plans (Ulips), which fetch them higher commission compared to mutual funds ... In July this year, Sebi and the Association of Mutual Funds of India (AMFI) directed mutual fund agents and distributors to... (India Times)
Rs 50K cr investments coming soon Nov 12, 2009
Mutual funds, banks and companies wanting to raise money are competing against each other to pocket investible funds that have started flowing out of high-interest bank fixed deposits ... Were already beginning to see opportunistic investors shifting their investments from banks to mutual funds and other asset classes, said Vikaas Sachdeva, head-business development, Bharati Axa Investment ... Money will be scattered across assets, with a decent chunk flowing in to fixed income mutual... (India Times)
Awaiting next bubble's burst Nov 12, 2009
"Asset classes moving up simultaneously is the best bubble indicator," says Axel Merk, president of Merk Mutual Funds. In a healthy capitalistic economy, you have what's known as creative destruction. (San Francisco Chronicle -- Business)
Investors Yanking Money Out of Stocks Nov 11, 2009
Investors are pulling money out of stock mutual funds, an ominous sign for the recent market rally, says financial newsletter publisher Mark Hulbert. They (investors) typically add money to stock mutual funds as the market rises and withdraw money as it declines, he wrote in The New York Times. (Newsmax)
Add MF to 'core' portfolio Nov 11, 2009
Mutual funds that invest in alternate assets or geographical locations make eminent sense for this portion of the portfolio. One can also consider different investment styles. (India Times)
Axis MF launches first equity fund Nov 11, 2009
Axis Mutual Fund launches its first equity fund- MF News-Mutual Funds-Personal Finance-The Economic Times. . (India Times)
T. Rowe Price Buys Into UTI Asset Management Nov 10, 2009
"A 5%-6% valuation (on the assets under management) would have been ideal for UTI, but this is a decent deal, given that retail participation in India's mutual fund industry is tending to slow down a bit after the abolition of the entry load on mutual funds," Agarwal added. Mutual fund analysts have been saying the capital market regulator's decision to scrap the entry load--the portion of investor's money that fund houses took to pay commissions--will temporarily hurt the industry as... (SmartMoney)
New grading formula for corp bonds Nov 10, 2009
KOLKATA: The Securities nge Board of India (SEBI) and the Association of Mutual Funds in India (AMFI) are looking to further strengthen the current valuation methodology of debt securities. The regulators intend to do so by roping in another rating agency Icra to value the corporate bonds 00004000 along the Crisil Bond Valuation Matrix. (India Times)
Rel MF emerges top ranked fund Nov 10, 2009
Reliance MF leads Crisil Mutual Fund rankings in Sept quarter- MF News-Mutual Funds-Personal Finance-The Economic Times. . (India Times)
Jov Diversified Flow-Through 2009 Limited Partnership: Books Closing November 24, 2009 @ 12 Noon EST Nov 10, 2009
While working at NATCAN (formerly Altamira), Mr. Huang managed or co-managed over $2 billion in mutual funds and institutional assets, including all of the resource and equity income products in the Altamira and National Bank mutual fund families ... JovInvestment provides management and fund management services for mutual funds, closed-end funds and labour sponsored investment funds. (CCNMatthews Press Releases)
California May Pay Higher Yield Than in March at $1.5 Billion Bond Sale Nov 10, 2009
Mutual funds, banks and insurers will be able to buy the issue today. While the authority known as California Communities is issuing the revenue bonds, they carry the same grades as the states general obligation pledge: A from Standard & Poors, Baa1 from Moodys Investors Service and BBB from Fitch Ratings. (Bloomberg -- US)
Diamond Hill doubles 3Q profit Nov 10, 2009
Diamond Hill manages mutual funds, separate accounts and a private investment fund. The company had $5. (Columbus Business First, OH)
