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Byline: Paul Burton Rhode Island's State Investment Commission unanimously voted to terminate its investment in seven hedge funds, in line with General Treasurer Seth Magaziner's initiative to minimize the state [...]

Barclays Global Investors launched a municipal bond exchange-traded fund, and State Street Corp. plans to launch one this week. The unit of London's Barclays PLC's iShares S&P National Municipal Bond [...]

Prudential Investments LLC plans to fold most of its single-state municipal bond mutual funds into other offerings, according to recent filings made with the Securities and Exchange Commission. The move [...]

LOS ANGELES -- In what is believed to be a first for a U.S. mutual fund, the CRA Qualified Investment Fund from CRAFund Advisors last month unveiled a major 'California [...]

Large 401(k) providers like Fidelity are finding a wealth of asset-gathering success by selling target-date funds in retirement plans, but an executive at a much smaller investment firm says he [...]

Bank of America Corp. is widening a review of its mutual fund unit as it tries to repair damage from allegations last month that it let a New Jersey hedge [...]

ING Group will seek unitholder approval in October to combine its two Canadian mutual fund families. The three-fund ING Direct Funds Limited family and the 18-fund ING Investment Management Inc. [...]

Washington Mutual Inc. of Seattle plans to launch a mid-cap mutual fund in March. The fund, as yet unnamed, will invest in companies with market capitalization of $1 billion to [...]

For 17 years, PNC Bank Corp. has sown a reputation for expertise in the obscure business of providing back-office services to mutual fund companies and other investment managers. Now, as [...]

PwC eliminating 1,000 staff jobs NEW YORK -- PricewaterhouseCoopers plans to eliminate 1,000 administrative and internal support positions nationwide, despite a general perception that work force cutbacks wouldn't ensue from [...]

The Canadian mutual fund arm of Houston-based Aim Management Group Inc. is gearing up to serve an up-and-coming sales channel -- the Canadian bank branch network. Aim Funds Management Inc. [...]

When Stephen Leslie took over the beleaguered funds run by Fundamental Portfolio Advisors Inc. one year ago, he was confronted with three municipal bond portfolios ranked dead last in their [...]

BY DAVID WEIDNER Part of a Treasury secretary's job is to worry about troubled loans. But these days the firm bearing William E. Simon Sr.'s name is looking to buy [...]

Small banks face a number of tough questions when deciding whether to offer mutual funds. A community bank must decide whether to hire a third party to market its mutual funds portfolio or to go it alone. In 1994, around 1,000 banks began offering mutual funds to their customers. Information is presented on a number of ways that community banks can set up mutual funds and other investment products portfolios.

Wells Fargo & Co plans to market a series of mutual funds called LifePath funds, which should meet consumers' financial needs for as long as fifty years. The funds will be a mix of money market instruments, bonds and stocks that will be invested more conservatively as consumers reach retirement age. Wells expects to market the LifePath funds directly to consumers. The six funds, which are awaiting approval from regulatory agencies, will be marketed as soon as approval is received.

First Investors Corp. plans to file a registration statement with the Securities and Exchange Commission to launch its first intermediate-maturity, insured municipal bond fund, a company official said Friday. 'It [...]

SEI Investments (Oaks, Pa.) says that 85 percent of its broker-dealer partners have formally approved its managed accounts program for distribution. The program has seen inflows of more than $1.3 […]

At the 5th annual Money Fund Forum, sponsor William Donoghue predicted that the new deposit instrument available to banks and thrifts will not hurt the current money fund business. Other speakers were not as optimistic and suggested the money fund industry join with financial institutions in forming a new financial marketplace. Many thought the biggest threat will come not from banks and thrifts, but from large financial operations like Sears.

Although the Federal Reserve Board does not necessarily approve of Dreyfus Corp.'s purchase of Lincoln State Bank, it will not take the mutual fund firm to court. The Fed will, however, continue to ask Congress to amend the definition of a bank to restrict the type of financial institution that may enter into the business of accepting deposits and making commercial loans.

Visa International plans a new investment trust and will offer a new and highly flexible credit card which can be tailored to suit the services offered by particular financial institutions.

Banking services will be centralized via a cooperative network to be established in the Midwest. Among other services, the new arrangement plans to offer a cooperative money market mutual fund. How the requirements of the Glass-Steagall Act will be affected is still not clear.

Visa USA plans to provide member banks with a way to offer money fund features to their customers. Customers will be able to access funds on deposit in accounts which invests in high-yield financial instruments. The reasons for this move involve attempts to find ways to compete with financial institutions which operate outside banking laws.

Veteran banking analyst Samuel J. Beebe is leaving William R. Hough & Co. to set up a no-load fund specializing in financial stocks. Mr. Beebe plans to emphasize stocks expected [...]

Despite recent volatility in emerging markets, State Street Global Advisors is gearing up to launch a common trust fund of stocks in 'pre-emerging markets.' The fund will offer institutional investors [...]

J.P. Morgan & Co. announced Monday its intention to sell the oil and gas properties in its two U.S. petroleum funds that are managed through its asset management services group. [...]

The Blackstone Group's merchant banking operation has been kicking the tires on a new fund rumored to be dose to $4 billion in size, according to sources in the leveraged [...]

New England Funds is planning to launch a small-company stock portfolio to be overseen jointly by four outside investment managers. Picking stocks for Star Small Cap Fund are Loomis, Sayles [...]

Retail demand for this week's $60 million issue of West Virginia general obligation bonds - upgraded Friday to AA-minus by Standard & Poor's Corp. - may be strong in the [...]

Bankers Trust New York Corp (BT) has filed notice with the Securities and Exchange Commission that it is planning to create a new family of funds called BT Global Investor Funds. The family of funds will consist of six proprietary fund portfolios, including a fixed-income fund and five stock funds. The funds will be marketed with an upfront fee that will generate revenue to pay brokers' commissions. The family of funds is an attempt by BT to make its products and services more widely available to consumers., Eager to expand its fund sales to other banks and brokerages, Bankers Trust New York Corp. plans to launch six new proprietary mutual fund portfolios. The $103 billion-asset company is [...]

Deutsche Bank is betting that U.S. customers are ready to span world for stock picks. The German bank's New York-based subsidiary has applied to create nine funds, each linked to [...]

Voyageur Fund Managers is likely to start a national high-yield municipal fund following the arrival of Steven P. Eldredge from Palm Beach Capital Management, where he managed three Florida funds [...]

IBJ Schroder Bank and Trust has received permission from federal regulators to launch a new family of mutual funds. The New York-based bank, a subsidiary of the Industrial Bank of [...]

Commerce Bank, a $2.1 billion-asset institution based in Kansas City, has registered with the Securities and Exchange Commission to launch a family of mutual funds. The Commerce Funds consist of [...]

First Hawaiian Bank is jumping into the mutual fund business with a splash. Last month, the $6.2 billion-asset bank - Hawaii's second largest - opened investment centers in 15 of [...]

John Nuveen & Co. is creating an investment product that combines tax-exempt and taxable securities. Nuveen has filed a registration statement with the Securities and Exchange Commission for the Nuveen [...]

First Data Corp is pondering ways in which it can wield its influence in credit card processing to gain entry into the bank mutual fund industry. First Data would like to use the relationships it has developed with banks through its credit card processing services to develop and market processing services for banks' investment products. First Data's idea is to develop a product that would allow bank customers to use their credit cards to purchase mutual funds., Technology services giant First Data Corp. is exploring how it can leverage its credit card processing capabilities to become a bigger player in support of the booming bank mutual fund [...]

When Steve Settles got a big promotion at Barnett Banks Inc. earlier this month, he joined a growing breed of bank executives -- those with wide-ranging responsibility for a major [...]