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.
The Treasury Department said money managers could pose threats to the U.S. financial system when reaching for higher returns, herding into popular asset classes or amplifying price movements with leverage.
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.