Skip to main content
pilogo-NEW
Subscribe
  • Subscribe
  • My Account
  • login
  • NEWS
    • Alternatives
    • Consultants
    • Defined Contribution
    • Frontlines
    • Hedge Funds
    • Investing / Portfolio Strategies
    • Money Management
    • Pension Funds
    • People Moves
    • Private Equity
    • Real Estate
    • Searches & Hires News
    • Special Reports
    • H.I.G. Capital promotes 2 to co-president
      Pantheon hires global head for private debt
      Silver Lake reorganizes leadership
      Hamilton Lane promotes 3 to global investment team
    • Mercer appoints global alternatives leader for wealth business
      KPMG offloads pension advisory unit to private equity firm
      Ascensus snaps up Nyhart in latest deal
      Willis Towers Watson exec promoted to lead retirement unit
    • No uptick in hardship withdrawals seen in wake of IRS rule revamp
      Michael Hadley
      IRS hardship rules force change to plan documents
      Nancy Ross
      Sponsors take steps to reduce company-stock litigation risk
      Mike Francis
      Plan sponsors jump to meet changes over withdrawals
    • McGill Challenge winners
      HEC students win C$25,000 for sustainable investment strategy
      Warrick Dunn
      Former professional athletes want to make a different kind of impact
      Nareit diversity winners
      Nareit award winners stress diversity work isn't done yet
      Brian Collins
      Illinois Muni pension fund wins Baldrige quality award
    • Macro hedge fund Stone Milliner shutting down
      James Medeiros
      Hedge fund managers are warming up to custom funds
      Louis Bacon
      Moore Capital's Louis Bacon to quit money management business
      James Yeh
      Citadel promotes James Yeh to president and co-CIO
    • CalPERS slashes equity emerging managers program
      Canadian multiemployer plan invests in cannabis company WeedMD
      Franklin Regional Retirement launches small-cap equity search
      To cheap large-caps go the spoils
    • Investor checks on manager sexual harassment are improving, but still too low
      Apollo Global taps Bain Capital veteran to lead its Japan business
      Managers struggle to understand blockchain technology
      BlackRock's Mark Wiseman departs after failing to disclose relationship
    • CalPERS slashes equity emerging managers program
      Canadian multiemployer plan invests in cannabis company WeedMD
      South African state pension fund looks to expand unlisted assets
      Church of England Pensions Board CIO resigns
    • Mercer appoints global alternatives leader for wealth business
      Apollo Global taps Bain Capital veteran to lead its Japan business
      Realdania picks new CIO
      BlackRock's Mark Wiseman departs after failing to disclose relationship
    • Investindustrial raises €3.75 billion with seventh European buyout fund
      Sightway Capital closes first fund with $1.2 billion
      Private equity practices aired at House hearing
      Asia-focused NewQuest closes fourth dedicated secondaries fund at $1 billion
    • Schroders appoints real estate capital partners head
      CBRE acquires U.K. real estate debt investment business Laxfield Capital
      USAA to sell controlling interest in real estate unit
      Cold storage
      A hot time for those seeking the cold
    • Westfield Contributory looks to allocate to private equity, real estate funds
      Franklin Regional Retirement launches small-cap equity search
      Texas Muni assigns $50 million to private equity
      Northfield Bancorp taps Principal as record keeper for 401(k) plan
    • Investment Consultants
      The 2019 Excellence & Innovation Awards
      Top-performing managers Q3 2019
      The world's largest asset managers
  • Data
    • Research Center
    • Searches & Hires Database
    • Searches & Hires News
    • RFPs
    • Charts / Infographics
    • Sponsored Research
    • Trackers
    • Q3 2019 money manager M&A activity summary
      Q3 2019 legal overview report
      Q3 2019 searches and hires overview report
      P&I resources can give a leg up in winning new business
    • Westfield Contributory looks to allocate to private equity, real estate funds
      Franklin Regional Retirement launches small-cap equity search
      Texas Muni assigns $50 million to private equity
      Northfield Bancorp taps Principal as record keeper for 401(k) plan
    • Westfield Contributory looks to allocate to private equity, real estate funds
      Franklin Regional Retirement launches small-cap equity search
      Texas Muni assigns $50 million to private equity
      Northfield Bancorp taps Principal as record keeper for 401(k) plan
    • In-Kind Distribution Management Services (Private Markets) Provider Search
      Defined Contribution Consultant
      Consulting Services
      Technology Firms
    • To cheap large-caps go the spoils
      Only place to go is ... down
      Equity leads DC exodus amid rising markets
      Hedge fund performance fees down 11% in 2019
    • Institutional Investors: Shared Expectations, Divergent Paths
      Global Investor Study 2016
      Workplace Financial Wellness
    • U.S. Endowment Returns Tracker
      Pension Fund Returns Tracker
      Earnings Tracker
      Corporate Pension Contribution Tracker
  • Insights
    • Opinion
    • White Papers
    • Industry Voices
    • Other Views
    • Partner Content
    • Publisher's Update
    • SEC cartoon
      SEC rules need measured response
      High hopes for consistency and guidance from Scalia
      DC West poster
      Financial wellness gets spot at the table
      Times change, and that's a good thing
    • Strengthen Your Core: Flexible Multi-Sector Strategies for a Low-Yield World
      WisdomTree Yield Enhanced U.S. Aggregate Bond Fund
      Automation, lower fees driving institutional interest in factor investing and smart beta strategies
      A Great Time to Be Agnostic?
    • Gerald Cooper
      Commentary: Single-asset deals – a structure benefiting GPs and LPs alike
      Gordon Latter, Timur Kaya Yontar and Frank Benham
      Commentary: Plan sponsors, do you know your credit risk?
      Timothy Boomer
      Commentary: For plan sponsors, derivatives shouldn’t be a dirty word
      Martin Vogt
      Commentary: Renewables investing makes inroads in the Caribbean, Central America
    • Commentary: Revised statement on corporate purpose misses the mark
      Commentary: Stronger partnership needed between shareholders, managers
      Commentary: The associated costs of DB terminations
      Commentary: Support the Butch Lewis Act
    • P&I Content Solutions
      The Changing Face of Emerging Markets Investing
      P&I Content Solutions
      How ICMA-RC Creates Diversity and Investment Talent
      P&I Content Solutions
      Three conversations DC plan sponsors need to have in 2020
      P&I Content Solutions
      Automation, lower fees driving institutional interest in factor investing and smart beta strategies
    • Everything Must Change
      Tomatoes & Investments
      Baby, it’s hot outside!
  • Multimedia
    • Videos
    • Webinars
    • Polls
    • Slideshows
    • Charts / Infographics
    • Excellence & Innovation Awards 2019: Laura Mittelstaedt
      DC West 2019
      Excellence & Innovation Awards 2019: Lisa Joe
      DC West 2019: Empower Retirement's Doug Peterson on cybersecurity
    • Finding the Positive in Negative Interest Rates
      How to Position Institutional Portfolios to Capitalize on China’s Growth
      Financial Wellness: Gaining an edge with plan sponsors
      Trends in Hedge Fund Investing
    • POLL: Shared values between money managers and plan sponsors
      POLL: Climate change's impact on investing
      POLL: Ultralong-term U.S. Treasury bonds
      POLL: The best benchmark for private equity
    • view gallery
      21 photos
      The world's 20 largest retirement funds
      view gallery
      11 photos
      Top 10 DC money managers
      Top 15 managers by worldwide institutional AUM
      The 1,000 Largest Retirement Funds
    • To cheap large-caps go the spoils
      Only place to go is ... down
  • Events
    • Conferences
    • Webinars
    • East Coast DC Conference
      Fixed Income & Credit
      DC Investment Lineup
      ESG Investing
    • Finding the Positive in Negative Interest Rates
      How to Position Institutional Portfolios to Capitalize on China’s Growth
      Financial Wellness: Gaining an edge with plan sponsors
      Trends in Hedge Fund Investing
  • Careers
  • Research Center
MENU
Breadcrumb
  1. Home
  2. Print
May 02, 2005 01:00 AM

Mutual fund briefs

  • Tweet
  • Share
  • Share
  • Email
  • More
    Reprints Print
    SEC may still miss mutual fund abuses, GAO says

    WASHINGTON — The SEC may again fail to detect trading abuses by mutual fund companies unless it develops a plan to routinely receive and review annual compliance reports from chief compliance officers at mutual fund companies, according to a GAO report released April 22.

    Mutual fund compliance staff had detected evidence of market timing and other arrangements with favored clients long before the SEC became aware of the trading abuses, but they lacked independence from their companies to correct the problems, the Government Accountability Office noted. And although a new SEC rule requires all mutual fund companies to have chief compliance officers who report directly to the mutual fund board of directors, organizational conflicts of interest may still exist if they work for the investment advisers, rather than the mutual fund companies, the report noted.

    Review bemoans controls at Minnesota DC plan

    ST. PAUL, Minn. — The Minnesota State Retirement System has some "weaknesses" in its administration of the state's $2.8 billion deferred compensation plan, according to a special review by the state legislative auditor's office.

    While the auditor "did not find evidence of financial wrongdoing" by retirement system employees, retirement system officials didn't have "adequate controls" over the plan's $11.5 million administrative account, which includes plan fees, according to the report, issued April 20.

    The retirement system took over education services and enrollment in 2004 through a new in-house call center, and most of the weak points cited in the report stem from that transition period, said David Bergstrom, executive director of the state's $10 billion retirement system. The plan has saved about $1 million by moving the services in-house, he said. Great-West Retirement Services, the deferred compensation plan record keeper, previously managed education and enrollment as well.

    Mr. Bergstrom said plan officials are implementing the auditor's recommendations and most are already in place.

    DC assets increase 10% to $4.3 trillion in 2004

    WASHINGTON — Defined contribution assets rose to $4.3 trillion in 2004, a 10% increase from 2003, according to the Annual Marketplace Update Report by the Society of Professional Administrators and Recordkeepers. Assets in 401(k) plans reached a record $1.975 trillion in 2004, a 10% increase from 2003.

    More than 409,000 401(k) plans covered more than 50 million U.S. workers in 2004, compared with 395,000 plans and 45 million participants in 2003. Participants in 401(k) plans had nearly 70% of their account balances in stock as of Dec. 31, an increase of five percentage points over the previous year.

    The report estimates almost 12,500 new 401(k) plans will be formed this year, primarily among smaller companies.

    Harbor Small-Cap Value Fund to close June 30

    TOLEDO, Ohio — The Harbor Small Cap Value Fund will be closed to most new investors on June 30, confirmed John Hoff, spokesman with Harbor Capital Advisors. TEARNEST Partnerssed by EARNEST Partners, had $1.07 billion in net assets as of March 31. The fund will continue to sell shares to existing shareholders, shareholders who invest through pension or benefit programs and investors who meet "certain other criteria," according to a news release.

    Socially responsible funds back ‘traditional' resolutions

    WASHINGTON — Socially responsible investing funds support "traditional" corporate governance proxy resolutions such as expensing stock options and separating CEO and board chair positions more often than "conventional" funds do, according to a study from Social Investment Forum Foundation.

    Data from July 1, 2003, through June 30, 2004, the first 12-month period after the SEC required mutual funds to disclose their proxy votes, indicated that socially responsible funds supported twice as many shareholder-proposed corporate governance resolutions and "vote no" campaigns as supported by conventional funds.

    Socially responsible funds voted to support four "plain vanilla" corporate governance issues — poison pills, expensing stock options, golden parachutes and declassifying the board — 90% of the time, compared with 72% of the time for conventional funds, said Tracey Rembert, who wrote the study.

    Wells Fargo debuts post-merger fund family

    MINNEAPOLIS — Wells Fargo introduced Advantage Funds, a mutual fund family created through the merger of Wells Fargo and Strong, confirmed Susan Stanley, spokeswoman.

    The combined family, managed by Wells Fargo Funds Management, is made up of 120 funds and has more than $100 billion in assets. Wells Fargo's acquisition of $29 billion in assets from Strong Financial Corp., including $24 billion in mutual fund assets, was completed Dec. 31.

    Recommended for You
    sponsored content
    Events
     
     
    Advertisement
    White Papers
    A Great Time to Be Agnostic?
    Shedding the Home-Country Bias
    Automation, lower fees driving institutional interest in factor investing and s…
    WisdomTree Yield Enhanced U.S. Aggregate Bond Fund
    Strengthen Your Core: Flexible Multi-Sector Strategies for a Low-Yield World
    View More
    Sponsored Content
    Partner Content
    How Big Data Delivers Solutions to ESG Investors
    How a Multisector Credit Approach Can Lower Risk, Increase Diversification
    ESG Investing Supplement
    Know Your DB Plan’s ‘Persona’ to Help Make the Right Strategy Choices
    Leveling the playing field for public employee retirement security
    View More
    E-MAIL NEWSLETTERS

    Sign up and get the best of News delivered straight to your email inbox, free of charge. Choose your news – we will deliver.

    Subscribe Today

    Get access to the news, research and analysis of events affecting the retirement and institutional money management businesses from a worldwide network of reporters and editors.

    Subscribe
    Connect With Us
    • RSS
    • Twitter
    • Facebook
    • LinkedIn

    Our Mission

    To consistently deliver news, research and analysis to the executives who manage the flow of funds in the institutional investment market.

    pilogo-NEW
    About Us

    Main Office
    685 Third Avenue
    Tenth Floor
    New York, NY 10017-4036

    Chicago Office
    150 N. Michigan Ave.
    Chicago, IL 60601

    Contact Us

    About Pensions & Investments

     

    Advertising
    • Media Kit
    • P&I Content Solutions
    • P&I Careers | Post a Job
    • Reprints & Permissions
    Resources
    • Subscribe
    • Newsletters
    • FAQ
    • P&I Research Center
    • Site map
    • Staff Directory
    Legal
    • Privacy Policy
    • Terms and Conditions
    Pensions & Investments
    Copyright © 1996-2019. Crain Communications, Inc. All Rights Reserved.
    • NEWS
      • Alternatives
      • Consultants
      • Defined Contribution
      • Frontlines
      • Hedge Funds
      • Investing / Portfolio Strategies
      • Money Management
      • Pension Funds
      • People Moves
      • Private Equity
      • Real Estate
      • Searches & Hires News
      • Special Reports
    • Data
      • Research Center
      • Searches & Hires Database
      • Searches & Hires News
      • RFPs
      • Charts / Infographics
      • Sponsored Research
      • Trackers
    • Insights
      • Opinion
      • White Papers
      • Industry Voices
      • Other Views
      • Partner Content
      • Publisher's Update
    • Multimedia
      • Videos
      • Webinars
      • Polls
      • Slideshows
      • Charts / Infographics
    • Events
      • Conferences
      • Webinars
    • Careers
    • Research Center