Fidelity Investments, the mutual- fund firm best known for its star stock pickers since it was started almost seven decades ago, named former bond manager Charles Morrison to run its asset-management unit.
Vanguard Group Inc., the world’s largest mutual-fund company, withdrew a request filed last year with regulators to open three municipal-bond index funds amid concern that state finances may deteriorate.
Vanguard Group Inc., the biggest U.S. mutual-fund firm, had its first monthly redemptions in almost 20 years in June as investors sold bond funds in anticipation of the Federal Reserve scaling back its asset purchases.
Reopening the U.S. mortgage securitization pipeline is a vital step toward a housing market recovery that will boost the wider economy, Comptroller of the Currency Thomas Curry said yesterday in a Las Vegas speech.
Vanguard Group Inc., the biggest U.S. mutual-fund firm, attracted a record $24.3 billion from clients in January, mostly into stocks, as signs of an improving U.S. economy have prompted investors to return to equities.