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  • Aug 28- BNY Mellon Corp's computer glitch this week has disrupted pricing on nearly 5 percent of U.S. mutual funds and exchange-traded funds with about $404 billion in assets, according to data from Morningstar Inc and Lipper Inc.. BNY Mellon said on Friday it still does not know when the problems with mutual fund pricing will be fixed. An accounting system BNY...

  • Aug 28- BNY Mellon Corp's computer glitch this week disrupted pricing on nearly 5 percent of U.S. mutual funds and exchange-traded funds, according to data from Morningstar Inc and Lipper Inc.. BNY Mellon said on Friday it still does not know when the problems with mutual fund pricing will be fixed. An accounting system BNY Mellon uses to calculate fund values...

  • BOSTON, Aug 14- Investors pulled nearly $79 billion from U.S. stock funds during the first seven month of this year, more than in any previous year including during the height of the financial crisis, Morningstar Inc said on Friday. "Looking back at annual flows reveals that investors' confidence in the United States may be even shakier than recent data indicates,...

  • BOSTON, Aug 14- In the first seven months of this year, investors pulled more money out of U.S. stock funds than in any year before, including during the height of the 2008 financial crisis, research firm Morningstar Inc said on Friday.

  • BOSTON, Aug 14- Ford Motor Co said it was dropping Contrafund as an investment option in its employee retirement accounts, pulling an estimated $900 million from Fidelity Investments' flagship mutual fund. Contrafund, managed by Will Danoff, is a behemoth in the mutual fund industry, with $113 billion in assets. Mainstay Capital Management LLC Chief Executive...

  • BOSTON, Aug 12- Fidelity Contrafund manager Will Danoff, who oversees $113 billion in assets, said Wells Fargo& Co's profits "could benefit materially" from a rise in interest U.S. rates, and that he believed the stock market was underestimating the Federal Reserve's changing stance on rates. "I believe the group offers an excellent risk-reward trade-off,...

  • ANALYSIS-Liquidity risks overhang high-yield ETFs Friday, 31 Jul 2015 | 4:14 PM ET

    NEW YORK, Aug 2- Shareholders in the AdvisorShares Peritus High Yield ETF who sold in late 2014 are probably not the last to pay up for liquidity risk, a growing hazard for some fixed-income investors bracing for the first Federal Reserve interest rate hike in nearly a decade. Fixed-income high yield ETFs have grown to $37 billion in assets, up from about $10...

  • July 2- Vertex Pharmaceuticals Inc's unique combination therapy for a rare lung disorder was given the green light by U.S. health regulators, extending the company's reach to the most common form of genetic mutation responsible for cystic fibrosis. Orkambi, a combination of Vertex's approved drug Kalydeco and a new compound called lumacaftor, is intended for...

  • And that was before Puerto Rico Governor Alejandro Garcia Padilla admitted Monday that the country's budget gap was bigger than thought and it could not repay more than $70 billion in debt. Over the past year, funds run by Goldman Sachs Group Inc have increased their exposure to Puerto Rico to attract yield-hungry investors, U.S. regulatory filings show.

  • CHICAGO, June 25- Women are under-represented among mutual fund managers, a new study found, in a gender imbalance that poses challenges for an industry looking to run more money from female clients. Among 7,410 portfolio managers of U.S. open-end mutual funds, only 9 percent were women, the study released this month by researchers from Morningstar Inc of Chicago,...

  • Funds run by Boston- based Fidelity Investments and Baltimore's T. Rowe Price Group, for example, more than doubled their money with pre-IPO bets on Facebook Inc. And shares of lesser known Zafgen Inc are up 15- fold since the Fidelity Select Biotechnology Portfolio made a pre-IPO investment of $11.2 million in late 2013. Zafgen's IPO was in June 2014.

  • BOSTON, May 26- Fidelity's Joel Tillinghast, one of the mutual fund industry's best stockpickers over the past 20 years, said financial markets are "colossally artificial" and cited ride-sharing upstart Uber and negative yielding government bonds as examples. "I think it's colossally artificial, but I don't see it ending," said Tillinghast, who runs the $46...

  • LOS ANGELES, May 26- Judging by the latest performance rankings, two 529 college savings plans in particular look enticing. SavingForCollege.com, a plan comparison website that publishes rankings each quarter, said the District of Columbia's direct-sold DC 529 College Savings Program topped the lists for one-, three- and five-year performance as of March 31.

  • CHICAGO, May 21- The U.S. Supreme Court ruled this week that employers have a duty to protect workers in their 401 plans from mutual funds that are too expensive or perform poorly. The high court ruled on a class-action lawsuit against Edison International. St. Louis lawyer Jerome Schlichter, who has made a cause of suing 401 plans to get them to shape up, brought the...

  • Investors were waiting for news that could move share prices from many bigger companies including Bristol-Meyers Squibb Co, Amgen Inc and Celgene Corp. Hot topics at the American Society of Clinical Oncology conference in Chicago will include immuno oncology and CAR-T cell therapies. Shares in Juno Therapeutics Inc, Kite Pharma Inc, BlueBird Bio Inc and...

  • April 22- D.R. Horton Inc's quarterly results gave a strong indication that first-time home buyers are finally returning to the market as home ownership in the United States becomes cheaper than renting. D.R. Horton said sales to this demographic tripled in the quarter ended March 31, helped by more relaxed mortgage rules and rising confidence in the wider...

  • April 22- D.R. Horton Inc, the largest U.S. homebuilder, reported its slowest growth in average selling prices in over three years and the company forecast a drop in gross margins for the current quarter as it sells more lower-priced homes. D.R. Horton said sales in its lower-margin' Express' homes business, which caters mainly to first-time home buyers, are expected...

  • BOSTON, April 6- Ron O'Hanley, the new leader of State Street's $2.45 trillion asset management division, says he will look closely at expanding the bank's stable of bond-related products as exchange-traded funds run by rivals Vanguard and BlackRock have been more dominant in attracting investor money. The 58- year-old O'Hanley started his new job as the head...

  • BOSTON, March 4- Mutual fund companies, including No. 2 Fidelity Investments, have slashed fees on their most popular funds by shifting billions of dollars into collective trusts not regulated by the U.S. Securities and Exchange Commission. "CITs are more opaque to the outside world because reporting requirements are not as stringent," said Michael Rawson,...

  • Janus profit up after Gross helps bring inflows Thursday, 22 Jan 2015 | 11:30 AM ET
    Bill Gross

    Denver asset manager Janus Capital Group said fourth-quarter profit rose 22 percent after hiring of star bond fund manager Bill Gross.