Conference Buzz

Schwab IMPACT 2013

    Financial advisors, investment managers and consultants flocked to the nation’s capital for this year’s SchwabIMPACT Conference. The Walter E. Washington Convention Center was buzzing this year with the latest news and predictions on the political landscape, the market outlook and strategies for business growth. Reporter Dervedia Thomas was in the middle of all the action.

  • Nov 12, 2013 -- by Dervedia Thomas

    Merit-Based Incentives On The Rise

    Merit-based incentive pay is a trend that is on the rise in lieu of discretionary bonuses, according to Kelli Cruz, founder of Cruz Consulting Group.

  • Nov 13, 2013 -- by Dervedia Thomas

    A Friendly Approach Is Key To Retirement Biz Growth

    Firms that want to grow their retirement practice should act less like a financial advisor and more like a friend, Jason Gordo, ceo and co-founder of Valley Wealth, told attendees at SchwabIMPACT.

  • Nov 14, 2013 -- by Dervedia Thomas

    Unpopular Asset Classes Still Necessary

    Unpopular asset classes such as cash, commodities and Treasuries are still necessary when constructing portfolios to ease clients’ fears of inflation and volatility, Jim Peterson, senior v.p. and chief investment advisor at Charles Schwab's investment advisory services, said at the SchwabIMPACT conference.

  • Nov 12, 2013 -- by Dervedia Thomas

    Reassess Global Stockpicking Metrics, Say Managers

    Portfolio managers need to reassess the metrics they use to evaluate and pick global equities, Robert Lovelace, portfolio manager at American Funds and David Polak, senior v.p. at Capital Group, told attendees at this year's SchwabIMPACT conference.

  • Nov 14, 2013 -- by Dervedia Thomas

    Legg Mason Touts Unconstrained Strategy

    Legg Mason and its affiliates touted the unconstrained strategy that has allowed its funds to outperform the market at this year’s SchwabIMPACT conference.

  • Nov 14, 2013 -- by Dervedia Thomas

    Social Media Key To Promoting Expertise, New Business

    Social media can help advisors establish themselves as experts in the field and foster new business relationships, according to the social media panel at SchwabIMPACT.

Pristine Advisors Closed-End Fund Conference

    Pristine Advisors’ annual Closed-End Fund Conference saw some unique product providers rally at Marriott Marquis in the heart of New York City’s Times Square. Senior Reporter, Nick Jardine was there to get our yearly installment.

  • Nov 07, 2013 -- by Nick Jardine

    Cash Makes No Sense For CEF Manager

    Carlton Neel, portfolio manager at Zweig Advisors, told the audience at Pristine Advisors’ annual Closed-End Fund Conference that holding cash in his portfolios made little sense in the present market environment.

  • Nov 07, 2013 -- by Nick Jardine

    BRICs Do Have Similarities After All

    Investment managers have long bemoaned that Brazil, Russia, India and China have been lumped together as a marketing ploy and shouldn’t be seen to be similar markets.

  • Nov 07, 2013 -- by Nick Jardine

    Deutsche Sees European Hope, But Stick To Equities

    Encouraging macro trends indicate there are opportunities for closed-end funds in Europe, David Wertheim, senior product specialist at Deutsche Asset & Wealth Management, to the audience at the annual Closed-End Fund Conference held by Pristine Advisors.

  • Nov 07, 2013 -- by Nick Jardine

    Advisors Split On Where Opportunities Lie

    Closed-end fund advisors are split as to where the best value is in the space.

  • Nov 07, 2013 -- by Nick Jardine

    Bank Loans Still Attractive Despite Crowded Space

    Scott Fries, portfolio manager at First Trust Advisors, told the audience at Pristine Advisors’ annual Closed-End Fund Conference that bank loan funds should still be attractive to investors despite fears of the space becoming over-crowded.

  • Nov 07, 2013 -- by Nick Jardine

    Closed-End Fund Investors Need Clear Investment Reasoning

    Investors who look to closed-end funds without understanding the benefits and drawbacks of the investment structure may end up with a misallocation of assets, analysts at Pristine Advisors’ annual Closed-End Fund Conference told the audience.

Morningstar's ETF Invest Conference

    Morningstar's ETF Invest Conference was sold out and the Radisson Blu Aqua in Chicago was busting at the seams as titans of the industry flocked in. Among topics for discussion was the government shutdown (or course), indexing and what to expect for that uncertain thing called the economy. Senior Reporter Nick Jardine was there to get the lowdown.

  • Oct 04, 2013 -- by Nick Jardine

    SSgA Touts Unfashionable Assets For Income

    Chris Goolgasian, head of portfolio management at State Street Global Advisors, touted some unfashionable and perhaps even unthinkable asset classes during a panel discussion at Morningstar’s ETF Invest Conference.

  • Oct 04, 2013 -- by Nick Jardine

    Income Managers Warn Against Yield Chase

    Managers of exchange-traded funds focused on income-producing assets warned investors and advisors about simply chasing yield when looking for income.

  • Oct 04, 2013 -- by Nick Jardine

    Managed Portfolio Performance Tough To Gauge

    The performance of exchange-traded fund managed portfolios is tough to gauge according to a panel speaking at Morningstar’s ETF Invest Conference.

  • Oct 04, 2013 -- by Nick Jardine

    Balanced Portfolio Managers Show Their Optimism

    Managers of balanced portfolios of exchange-traded funds are optimistic about both the market going forward and their ability to outperform quantitative and model-based strategies.

  • Oct 03, 2013 -- by Nick Jardine

    Vanguard’s Davis Sees No Equity Bubble, But Income In Trouble

    Joseph Davis, chief economist for Vanguard Group, assured the audience at Morningstar’s ETF Invest Conference, that there was no equity bubble, despite investors coming back to the asset classes.

  • Oct 04, 2013 -- by Nick Jardine

    EM Investors Must Recognize The Differences

    As factor-based indexing increases in the exchange-traded fund world, spreading into emerging markets products, investors have to recognize the difference between these investments and similar domestic strategies.

  • Oct 03, 2013 -- by Nick Jardine

    PIMCO’s Hodge: Use ETFs Actively To Help Retirees Save

    Doug Hodge, chief operating officer of bond giant PIMCO, urged an audience at Morningstar’s ETF Invest Conference to use exchange-traded funds in actively managed portfolios.

  • Oct 04, 2013 -- by Nick Jardine

    BlackRock: Investors Coming Back To EM, Europe

    Investors are coming back to emerging market equities and European equities, according to Heidi Richardson, senior investment strategist at BlackRock.

  • Oct 04, 2013 -- by Nick Jardine

    Index Providers Fire Shot At Self Indexers

    Index providers fired a shot at exchange-traded fund firms looking to introduce self-indexed products.

2013 ICI Tax & Accounting Conference

    The Investment Company Institute last week held its 2013 Tax & Accounting Conference in San Antonio, Texas, with attendees very curious to learn whether regulators had some valuation guidance to give?valuation having made Investment Management Division Director Norm Champ?s priority list earlier.

  • Sep 24, 2013 -- by Stan Wilson

    Retirement Tax Aids Seen At Risk

    Congress may well do something to curb the tax incentives now allowed for the goal of spurring retirement saving, said Ann Combs, principal at Vanguard Group.

  • Sep 26, 2013 -- by Stan Wilson

    EU Tax Refunds Slow In Coming

    Tax refunds the fund industry was expecting from nations in the European Union have been slow in coming.

  • Sep 26, 2013 -- by Stan Wilson

    PCAOB Proposal Is Panned

    Robert Uek issued a strong call of warning at the conference against an innovation the Public Company Accounting Oversight Board says it wants to put in audits.

  • Sep 25, 2013 -- by Stan Wilson

    Stevens Decries Fiscal Showdown In Keynote

    Paul Stevens, president of the Investment Company Institute, implored Congress to avert a government shutdown and avoid a default on the country’s debt obligations during his keynote address at the ICI Tax & Accounting Conference in San Antonio, Texas.

  • Sep 25, 2013 -- by Stan Wilson

    Reconsider Foreign Relationships, Says Tax Specialist

    U.S. fund firms might need to reassess their relationships with foreign financial institutions rather soon.

2013 Morningstar Investment Conference

    A happy anniversary to Morningstar! The firm’s annual investment conference turned 25 this year, and was taking place at the McCormick Place Convention Center in Chicago as FII went to press. Senior Reporter Nick Jardine covered the conference.

  • Jun 13, 2013 -- by Nick Jardine

    Morningstar: Stop The Active/Passive Debate

    Mornigstar analysts pleaded with the fund industry to stop debating the benefits of active or passive management during a panel discussion at the firm’s Investment Conference at the McCormick Place Convention Center in Chicago.

  • Jun 14, 2013 -- by Nick Jardine

    Investor Rates Fears Fuel Funds’ CEF Buying

    Fear of rising interest rates among retail investors is creating opportunities for providers of portfolios of closed-end funds.

  • Jun 17, 2013 -- by Nick Jardine

    Alts Managers Face Problem/Solution Match-Up Issues

    With the proliferation of alternative investment products, most notably coming from hedge fund players entering the mutual fund space, some managers are urging against blind product development not accounting for actual issues investors are facing.

  • Jun 13, 2013 -- by Nick Jardine

    Janus: Active Management The Only Way To Reduce Bond Risks

    Gibson Smith, chief investment officer for fixed income at Janus Capital Management, believes that the only way to protect against rising interest rates’ effect on fixed income portfolios is with active management.

  • Jun 13, 2013 -- by Nick Jardine

    Fixed-Income Managers Quash “Great Rotation” Fears

    Fixed-income managers are unconcerned about investors pulling money from their funds as confidence builds in equities.

  • Jun 14, 2013 -- by Nick Jardine

    Asset Allocators: Don’t Be Trendy

    Fund managers are knocking fashionable investment options such as alternatives and emerging market equity as overhyped and overvalued.

  • Jun 17, 2013 -- by Nick Jardine

    Morningstar Investment Conference Storify

    Morningstar’s Investment Conference last week drew quite a crowd, with investment advisors, mutual fund managers, marketing and distribution specialists and others congregating in Chicago for the 25th time since the ratings agency launched the premier event. Social media marketing was heavily used throughout the conference (#MIC25), and in that spirit, Fund Industry Intelligence Senior Reporter Nick Jardine (@nickmanjardine) has created a Storify board to capture the key highlights of the conference. Check it out below.

IMN World Series Of ETFs

    A small, select group of exchange-traded fund providers, tactical ETF portfolio managers and financial advisors gathered last week at the Seaport Hotel in Boston to attend the IMN World Series Of ETFs. Senior Reporter Nick Jardine covered the event for FII.

  • May 23, 2013 -- by Nick Jardine

    Tactical Allocation: The New Alts?

    Providers speaking at the IMN World Series Of ETFs quashed the notion that tactically allocated portfolios of exchange-traded funds are vehicles designed to maximize returns.

  • May 23, 2013 -- by Nick Jardine

    Research Affiliates: Investors Can Expect Returns Of Just 4.5%

    Traditional investors, stuck in a standard 60/40 style of investing, can expect to garner returns of just 4.5% over the next 10 years, according to Research Affiliates.

  • May 22, 2013 -- by Nick Jardine

    ProShares Drops Product Development Hints

    ProShares has hinted that it will launch more products aimed at appealing to buy-and-hold retail investors looking to replace their mutual fund investments.

  • May 23, 2013 -- by Nick Jardine

    Schwab: We Don’t Know Retirement Impact Of 2008 Yet

    Omar Aguilar, CIO for equities at Charles Schwab Investment Management, believes that the world has yet to see whether 2008 has had a lasting effect on the way baby boomers are saving for retirement.

Alts Virtual Summit

    Hosted by ETF Trends and RIA Database, the Alts Virtual Summit saw nearly 2,000 participants tune in to the web-based alternatives investment virtual conference. Among those listening in was Senior Reporter Nick Jardine.

  • May 15, 2013 -- by Nick Jardine

    BlackRock: Let’s Move Alts Conversation Forward

    Robert Kapito, president of BlackRock, believes that the conversation surrounding alternative investment products needs to move forward, acknowledging investors’ differences.

  • May 15, 2013 -- by Nick Jardine

    PIMCO Keeps Durations Short With Long Outlooks

    Mark Kiesel, managing director at PIMCO, identified several areas of the bond market that the firm is confident about at the Alts Virtual Summit, an online conference produced by ETF Trends and RIA Database.

  • May 16, 2013 -- by Nick Jardine

    Portfolio Providers Cautious When Selecting Alt Managers

    Providers of managed portfolios or funds of funds take great care when selecting their alternative investment managers, according to a panel speaking at the Alts Virtual Summit.

  • May 15, 2013 -- by Nick Jardine

    Equity, Bond Performance A Barrier To Alts

    Investors are reluctant to get involved with alternative investment products due to strong performance from equities and fixed-income securities, according to a panel speaking at the Alts Virtual Summit hosted by ETF Trends and RIA Database.

2013 ICI General Membership Meeting

    Approximately 1430 people packed the Marriott Wardman Park Hotel in Washington D.C, May 1-3 for the Investment Company Institute’s annual General Membership Meeting. A diverse group of fund attorneys, portfolio managers, executives, fund consultants and investment advisers discussed topics including regulation, fiscal policy, emerging markets, technology and social media. Reporter Dervedia Thomas was on the scene to cover the event for FII.

  • May 06, 2013 -- by Dervedia Thomas

    China Still Seen As A Money Maker For Funds

    Asset managers can still make money in China from a long-term, balanced approach, according to speakers at the Investment Company Institute’s General Membership Meeting in Washington D.C.

  • May 07, 2013 -- by Dervedia Thomas

    ICI: Risk Perspective Different For Younger Investors

    While technology and social media are important parts of attracting younger investors, asset managers also need to tailor their approach to meet a different risk perspective, according to fund executives at the Investment Company Institute's General Membership Meeting in Washington, D.C.

  • May 02, 2013 -- by Dervedia Thomas

    Social Media, Games, Key To Reaching Younger Generation

    Fund firms have a responsibility to get the younger generation to save, and social media, digital games and competitions can help target that audience, according to fund executives on the GMM Leadership Panel at the Investment Company Institute's General Membership Meeting in Washington D.C.

ICI Investment Management Conference 2013

    Norm Champ, the man with a new vision for regulating mutual funds, made three different appearances last week at the annual spring Investment Company Institute Investment Management Conference. His main goal was to describe how the Investment Management Division he heads is exploring many new avenues to get a better understanding of what is going on in the industry.

  • Mar 19, 2013 -- by Stan Wilson

    Champ Talks ETFs, Fund Derivatives

    Norm Champ has sketched how the Securities and Exchange Commission will approach difficult decisions about funds' use of derivatives and complex exchange-traded products.

  • Mar 20, 2013 -- by Stan Wilson

    EU Pay Restrictions To Hit U.S.

    The pay of managers of U.S. registered investment companies may change a lot after the European Union’s Alternative Investment Fund Managers Directive kicks in later this year.

  • Mar 20, 2013 -- by Stan Wilson

    Fact-Hungry Feds Come After Industry

    Regulators are making more inquiries of fund firms. A Tuesday panel at the ICI Investment Management Conference examined the current state of the cost-benefit fight between rule-makers and the industry.

  • Mar 21, 2013 -- by Hillary Jackson

    Involving Trustees In New Product Development

    Mutual fund boards should be included early in the product development process, but it is important for advisors to find the right point at which to bring in trustees, Amy Duling, senior v.p. and chief compliance officer at DundeeWealth US, told attendees at the Investment Company Institute’s 2013 Mutual Funds and Investment Management Conference Tuesday morning.

  • Mar 20, 2013 -- by Stan Wilson

    Social Media Bedevils CCOs

    Social media on the internet doesn’t fit Securities and Exchange Commission rules against advertising and testimonials that have not received regulatory clearance.

  • Mar 21, 2013 -- by Stan Wilson

    Examiners Seek Unorthodox Broker Payments In Latest Sweep

    The worst case scenario examiners are looking at in the current industry-wide sweep of distribution payments is a situation where brokers are being paid for using fund assets in ways that are outside of the current regulatory structure and the fund board is not informed.

  • Mar 22, 2013 -- by Hillary Jackson

    Reporter's Notebook

Inside ETFs Conference

    Over 1,200 participants descended on the Westin Diplomat Resort and Spa in Hollywood, Fla. this week to take part in IndexUniverse’s InsideETFs Conference. As some of the industry’s biggest players spoke to halls of advisors about where the industry was heading, Senior Reporter Nick Jardine was on hand to hear it all.

  • Feb 12, 2013 -- by Nick Jardine

    F-Squared Chooses Goals Over Achievements

    Howard Present, president and ceo at managed exchange-traded fund portfolio provider F-Squared Investments, believes too many investors aim to beat benchmarks when they should instead be looking at managing investment goals.

  • Feb 12, 2013 -- by Nick Jardine

    ETF Execs: Look Outside The Box For Income

    In order to capture equity income, one has to look outside the box, according to a panel of industry executives at IndexUniverse’s InsideETFs Conference.

  • Feb 12, 2013 -- by Nick Jardine

    Managers: More Active ETFs Coming

    Active exchange-traded fund managers told an audience at IndexUniverse’s InsideETFs Conference that more of these products are coming.

  • Feb 12, 2013 -- by Nick Jardine

    Tactical ETF Managers Weigh In On Global Opportunities

    Managers of tactical exchange-traded fund products weighed in on where they see investing opportunities during a panel discussion at IndexUniverse’s InsideETFs Conference.

  • Feb 11, 2013 -- by Nick Jardine

    Vanguard’s Brennan Worries Over Innovation, Competition

    Jack Brennan, now chairman emeritus at Vanguard Group, believes the exchange-traded fund to be the most meaningful and disruptive investing innovation of the last 25 years.

  • Feb 11, 2013 -- by Nick Jardine

    Vanguard, iShares: Our Relationship With Indices Has Changed

    Executives from Vanguard Group and BlackRock’s iShares told an audience during a panel discussion at IndexUniverse’s InsideETFs Conference that the shakeup in the use of indexes backing exchange-traded funds is being driven by a changing relationship between index and fund providers.

  • Feb 11, 2013 -- by Nick Jardine

    Managers Warn Of Treating All Commodities The Same

    Exchange-traded fund providers warned that investors shouldn’t treat all commodities as the same during a panel discussion at IndexUniverse’s InsideETF Conference.

Pristine Advisers Closed-End Fund Conference

    Originally blown out by Hurricane Sandy, Pristine Advisers’ closed-end fund conference finally took place at the Hilton New York in New York City. Reporter Nick Jardine was there for the one-day event to cover what the industry’s players were excited and worried about.

  • Dec 12, 2012 -- by Nick Jardine

    Investors Chase Munis, Cause Worries

    Closed-end fund analysts noted that investors new to the space are looking toward municipal funds and fixed-income offerings.

  • Dec 13, 2012 -- by Nick Jardine

    Morgan Stanley Slices Up Emerging Markets

    Morgan Stanley Investment Management is warning investors against treating all emerging markets in the same way.

  • Dec 12, 2012 -- by Nick Jardine

    Closed-End Managers Want China To Unleash Equities Market

    Closed-end fund managers see great opportunity in China, provided the nation allows more foreign investment and Chinese companies begin focusing on earnings.

  • Dec 12, 2012 -- by Nick Jardine

    CEF Managers Positive On Europe

    Despite the well-publicized economic troubles of the European Union, closed-end fund managers are seeing opportunities in the region—provided that certain precautions are taken.

  • Dec 12, 2012 -- by Nick Jardine

    Aberdeen Plots More Interaction With Closed-End Clients

    Aberdeen Asset Management is looking to reach out to its closed-end fund clients with online tools and content.

  • Dec 12, 2012 -- by Nick Jardine

    CEF Advisors: Go Long Or Go Home

    Financial advisors sent a warning to potential closed-end fund investors this week—be patient or don’t get involved.

  • Dec 12, 2012 -- by Nick Jardine

    Closed-End Fund Execs Spar With ETFs

    Closed-end fund managers see exchange-traded funds as being their main investment competition.

  • Dec 14, 2012

    Reporter’s Notebook

    Cool Kids On The Block - With an esteemed conference of international auditors gathered down the hall at the Hilton New York, closed-end execs were in the rare position of bringing the swagger.

Schwab IMPACT 2012

    Nearly 4,000 from the asset management industry descended upon McCormick Place Convention Center in Chicago for the 2012 Schwab IMPACT Conference from Nov. 13-16. Reporter Nick Jardine was there to hear the opinions of some of the industrys most trusted names regarding the current investment environment and the future.

  • Nov 16, 2012 -- by Nick Jardine

    Fund Bigs Push Equity Hard

    Fund firms are pushing equities as a smart investment for 2013, despite a strong investor bias toward bonds in 2012.

  • Nov 14, 2012 -- by Nick Jardine

    Advisors Want ETF, Fixed-Income Alts

    Advisors believe that product development in the alternative fund space should come via exchange-traded funds as well as products focusing on fixed income strategies.

  • Nov 15, 2012 -- by Nick Jardine

    Guggenheim Sees Fixed-Income Opportunities

    Guggenheim Investments sees a number of fixed-income opportunities in the current low-interest rate environment.

  • Nov 16, 2012 -- by Nick Jardine

    EM Consumer Base Helps Developed Markets

    The growing consumer base in emerging markets may be a positive for firms domiciled in developed nations.

  • Nov 16, 2012 -- by Nick Jardine

    Reporter's Notebook

    Villain Of The Week: Legendary Zen Master Phil Jackson was due to speak on the conference’s closing day but canceled when he heard that there was an opening to coach the Los Angeles Lakers. Jackson didn’t get the job, and attendees didn’t get an insight into the triangle offense of investing.

Morningstar ETF Invest Conference

    Over 400 attendees gathered at the Radisson Blu Aqua Hotel in Chicago to attend the Morningstar ETF Invest Conference between Oct. 3-5. FII reporter Nick Jardine was there, catching up on the talking points surrounding the exchange-traded fund industry in 2012.

  • Oct 04, 2012 -- by Nick Jardine

    Schwab’s Sonders Likes U.S.

    Liz Ann Sonders, chief investment officer at Charles Schwab Investment Management, told an audience at the Morningstar ETF Invest Conference at the Radisson Blu Aqua Hotel in Chicago, that the firm sees plenty of reasons to be optimistic when investing domestically.

  • Oct 04, 2012 -- by Nick Jardine

    BlackRock’s Koesterich: Get Out Of U.S. (Investments)

    Russ Koesterich, global chief investment strategist for BlackRock’s iShares, thinks that the U.S. is heading for the fiscal cliff and that investors should look internationally to ensure protection of their portfolios.

  • Oct 04, 2012 -- by Nick Jardine

    ProShares Looks To Define Alternatives

    ProShares is looking to settle the debate as to what counts as an alternative investment once and for all.

  • Oct 04, 2012 -- by Nick Jardine

    Less Is More For Tactical Managers

    Tactical exchange-traded fund portfolio managers are telling providers to consolidate their product lineups and get rid of ETFs that aren’t gaining any market attention.

  • Oct 05, 2012 -- by Nick Jardine

    Changing Advisor Landscape Helping ETF Managed Portfolios

    The changing advisor landscape is creating mass opportunity for exchange-traded fund managed portfolio firms, as the independent sector is seeing fast growth.

  • Oct 05, 2012 -- by Nick Jardine

    Fixed Income Managers Like Credit, Emerging Markets

    Exchange-traded fund managed portfolio managers are looking toward credit and emerging market debt as their investments of preference in the current environment.

2012 ICI Tax & Accounting Conference

    The 2012 Investment Company Institute Tax & Accounting Conference brought industry professionals to Orlando last week. On the tax side, discussion about how the looming year-end fiscal cliff would affect funds jostled with FATCAfor the attention of attendees. Accountants talked about the Commodity Futures Trading Commissions Rule 4.5 and new derivatives regulations spewing out of Washington, D.C.

  • Oct 02, 2012 -- by Stan Wilson

    Vanguard’s Dickson: Derivative ETF Bids Getting Sold Off

    The world of exchange-traded funds is divided into those who applied for derivative-linked ETFs before the Securities and Exchange Commission put a ban on new applications and those who did not, according to Joel Dickson, chief investment strategist at Vanguard Group.

  • Oct 05, 2012 -- by Stan Wilson

    Funds Seek Answers To Dec. 31 'Taxmageddon'

    Fund industry tax professionals are looking over the edge of the Dec. 31 so-called fiscal cliff—when the federal rate of tax on dividend income paid to mutual fund customers jumps from 15% to a top rate of 39.6 %, and they are probing for ways to cushion the tax trauma for shareholders.

  • Oct 03, 2012 -- by Stan Wilson

    Meeting Tracks Transaction Tax Developments

    The ICI Tax & Accounting Conference got a quick overview on plans emanating from Europe for a financial transaction tax (FTT)—a tax bid that Vanguard Group’s Chief Investment Officer Gus Sauter vigorously denounced to attendees during his keynote remarks.

  • Oct 03, 2012 -- by Stan Wilson

    SEC Boosts Fund Consolidation

    The Securities and Exchange Commission staff is accumulating concerns about a lack of transparency in subsidiaries of funds, whether they be in fund-of-funds structures or controlled foreign corporations (CFCs).

  • Oct 01, 2012 -- by Stan Wilson

    Wan Growth, Low Rates Seen By Sauter

    The future is bleak for the economy and the rate of return on most industry products, with the exception of equities, Gus Sauter, chief investment officer at Vanguard Group, said during his keynote speech at the ICI Tax & Accounting Conference.

MFDF 2012 Policy Conference

    Some 100 independent directors, lawyers and industry executives gathered at the Marriott Wardman Park in Washington, D.C., on June 19-20 for the Mutual Fund Directors Forum 2012 Policy Conference. Panel and breakout discussions covered valuation, negotiation techniques, retirement policies, money market funds and emerging governance issues.

  • Jun 22, 2012

    CFTC’s Chilton Entertains With Look At Health Of Markets

    Bart Chilton, the colorful and outspoken Commodities Futures Trading Commission member, was in prime form Tuesday night when he delivered the keynote address over dinner at the Mutual Fund Directors Forum 2012 Policy Conference.

  • Jun 21, 2012 -- by Stan Wilson

    ETF s To Prompt Another Rule 12b-1 Reform?

    Robert Plaze, deputy director of the Securities and Exchange Commission’s Division of Investment Management, indicated last week that the rise of exchange-traded funds is prompting the regulator to revisit 12b-1 reform, the rule that governs use of fund assets to pay for distribution.

  • Jun 21, 2012 -- by Stan Wilson

    Victory Funds’ Wilson: Complex Closed On Reg Uncertainty

    Uncertainty about what further regulatory changes are coming to money market funds helped forge a decision to close one complex, the Mutual Fund Directors Forum policy conference was earlier this week.

2012 Morningstar Investment Conference

    The 2012 Morningstar Investment Conference saw over 1,850 industry professionals descend upon the McCormick Convention Center in Chicago from June 19-22. Reporter Nick Jardine was there to cover the keynote speeches and panel discussion and catch up with some of the industry’s most influential players.

  • Jun 21, 2012 -- by Nick Jardine

    Morningstar: Investors Are Making Poor Decisions

    One of the biggest challenges facing the industry is investors making poor decisions when selecting funds and asset allocation, according to a panel of senior Morningstar analysts at the 2012 Morningstar Investment Conference at the McCormick Convention Center in Chicago.

  • Jun 21, 2012 -- by Nick Jardine

    Templeton Looks To Capitalize In Emerging Markets

    Franklin Templeton is looking to capitalize on emerging market bonds, Michael Hasenstab, manager of the firm’s Templeton Global Bond Fund, told an audience of over 1,000 industry professionals at the McCormick Convention Center in Chicago.

  • Jun 22, 2012 -- by Nick Jardine

    Third Avenue Looks For Diversification In Value Fund

    Third Avenue Funds is looking to provide more diversification in its flagship Third Avenue Value Fund.

2012 Investment Company Institute General Membership Meeting

    Approximately 1,500 attendees packed the Marriott Wardman Park Hotel in Washington, D.C., May 9-11 for the Investment Company Institute’s annual General Membership Meeting. Senior Report Cathy Scott was on the scene to cover the event for FII.

  • May 11, 2012 -- by Cathy Scott

    Industry Leaders: Market Refocusing On Outcome-Based Products

    A cross-section of industry leaders predict a slowdown in new fund churn over the next decade and an increasing emphasis on outcome-based strategies, such as capital preservation or dividend income.

  • May 10, 2012 -- by Cathy Scott

    Hobson: Stick To Principles, Innovate To Overcome Challenges

    The way to face challenging times is to stick to the time-honored principles of investing, rather than seeking the “quick score,” Mellody Hobson, president of Ariel Investments, told attendees at the ICI General Meeting at the Marriott Wardman Park Hotel in Washington, D.C., yesterday.

  • May 10, 2012

    Stevens Unveils Paper On Commodities Pricing

    Commodity mutual funds are not driving commodity markets, and penalizing those funds will hurt millions of average American investors, Paul Schott Stevens, president and ceo of Investment Company Institute, told the ICI General Membership Meeting audience yesterday.

11th Annual Capital Link Closed-End Funds & Global ETFs Forum

    The 11th Annual Capital Link Close-End Funds & Global ETFs Forum took place this week at the Metropolitan Club in New York City. According to Capital Link, over 1,000 representatives of the closed-end fund and exchange-traded fund industry were in attendance. Reporter Nick Jardine was there to cover the event for FII.

  • Apr 26, 2012 -- by Nick Jardine

    NETFA Chief Blasts Regulators

    John Hyland, chairman of the newly formed National Exchange-Traded Fund Association, took aim at regulators during a roundtable discussion on commodity exchange-traded funds at the Capital Link Closed-End Funds & Global ETF Forum on Wednesday.

  • Apr 26, 2012 -- by Nick Jardine

    FocusShares Eyes 401(k) Market

    Erik Liik, president and ceo of FocusShares, told FII that his firm is looking to break into the 401(k) market.

  • Apr 27, 2012 -- by Nick Jardine

    PIMCO Leads The Way In Active ETFs

    According to exchange-traded fund providers, actively managed ETFs are set to become more prevalent in the near future following the success of the ETF version of PIMCO’s Total Return Fund.

  • Apr 27, 2012 -- by Nick Jardine

    ETF Industry Split On Future Challenges

    Big players in the exchange-traded fund industry are split over the largest hurdle the industry will face over the next year.

  • Apr 27, 2012

    Reporter’s Notebook

    Chaos erupted among the Metropolitan Club’s staff during the meet-and-greet breakfast when a large box containing either valuable merchandise belonging to Van Eck Global and/or a substantial quantity of brioche disappeared.

2012 ICI Investment Management Conference

    The Investment Company Institute’s Investment Management Conference was held last week and offered a variety of questions to think about along with some unexpectedly chilly weather in Phoenix. A couple of them, “Dodd-Frank implementation: are we there yet?” and “are routine inspections a thing of the past?”—were easy to answer. What the government plans are doing about money funds turned out to be the hot topic.

  • Mar 23, 2012 -- by Stan Wilson

    SEC’s Walter Extends Money Fund Olive Branch

    Securities and Exchange Commission member Elisse Walter moved to reopen dialogue between the money fund industry and regulators at the Investment Company Institute’s Investment Management meeting last week.

  • Mar 23, 2012 -- by Hillary Jackson

    ICI’s McMillan Lays Out Threats Hanging Over Fund Industry

    Setting an ominous tone at the start of the 2012 Mutual Funds and Investment Management Conference, Karrie McMillan, general counsel to the Investment Company Institute, declared the fund industry under attack.

  • Mar 21, 2012 -- by Stan Wilson

    Donohue Seeks Relief For Derivatives ETFs

    Andrew Donohue is pushing for the Securities and Exchange Commission to give limited relief from the ongoing moratorium on launches of exchange-traded funds focused on derivatives.

  • Mar 21, 2012 -- by Stan Wilson

    ICI Conference: Education, Derivatives Top Concerns

    Education, derivatives, demographics and regulation were on the minds of panelists discussing the outlook for the fund industry over the next decade.

  • Mar 21, 2012 -- by Stan Wilson

    Legal Eagles: Don't Let Prospectuses Bite You

    Fund boards and their counsel must not relax vigilance against anything in fund documents that might open directors to lawsuits, members of the panel on litigation developments warned the audience at the 2012 ICI Investment Management Conference.

  • Mar 22, 2012 -- by Stan Wilson

    Industry Skeptical On SIFI’s Reach

    The Financial Stability Oversight Council likely won’t include mutual funds in its initial rule designating non-bank financial firms as systemically important, panelists at the 2012 ICI Investment Management Conference speculated.

IAA 2012 Compliance Conference

    Speakers at the 2012 Investment Adviser Association Compliance Conference on March 8-9 in Washington focused on stepped up activities of examiners and enforcement staffs as well as how the new whistleblower program was going to fit with company compliance programs. Lurking not far in the background was ongoing Capitol Hill bac- and-forth over the issue of a self-regulatory organization for advisors.

  • Mar 13, 2012 -- by Stan Wilson

    Fund Lawyer: CCOs Must Be More Vigilant

    Chief compliance officers at fund firms need to be more vigilant due to the heavy regulation the industry now faces.

  • Mar 13, 2012 -- by Stan Wilson

    Whistleblower Compliance Bypass Nags SEC

    The Securities and Exchange Commission’s Office of the Whistleblower continues to hear misgivings about the new whistleblower incentive program, representatives said at the Investment Adviser Association Compliance Conference.

  • Mar 13, 2012 -- by Stan Wilson

    Asset Management Unit Eyes Fund Fees

    A Securities and Exchange Commission enforcement official gave the Investment Adviser Association Compliance Conference attendees new insight into what’s on the minds of the asset management unit’s staffers when they turn their attention to mutual funds.

The SEC Speaks 2012

    The annual showcase for the top officials of the Securities and Exchange Commission, called The SEC Speaks, was hosted by the Practicing Law Institute Feb. 24-25. The emphasis of the event, as it has been since the 2008 financial crisis and the discovery of Bernie Madoff’s Ponzi scheme, was the SEC’s increasing shift in emphasis away from grinding out more miles of rules to enforcement.

  • Mar 02, 2012 -- by Stan Wilson

    New OCIE Shows Its Teeth

    When members of the Securities and Exchange Commission’s Office of Compliance Inspections and Examinations visits funds these days, they will arrive with a list of tough questions after having done extensive detective work.

  • Mar 01, 2012 -- by Stan Wilson

    Paredes: Start Over With A New Volcker Rule

    Securities and Exchange Commission member Troy Paredes told the crowd at The SEC Speaks he was in favor of scrapping the proposed Volcker Rule to ban bank proprietary trading and start over again with a new draft proposal.

  • Mar 01, 2012 -- by Stan Wilson

    SEC Moving On Target-Date Rules

    The Securities and Exchange Commission has bolstered its case for stronger target-date fund disclosure with the findings of an investor survey the SEC sponsored.

  • Feb 28, 2012 -- by Stan Wilson

    Plaze: Money Fund Proposal Coming In Two Months

    At some point between now and the end of April, the Securities and Exchange Commission will propose rules requiring that money market funds have a capital cushion and “some sort of minimum balance requirement,” a senior agency official predicted during the second day of The SEC Speaks.

  • Feb 28, 2012 -- by Stan Wilson

    SEC’s Accountant Kroeker Noncommittal On IFRS

    James Kroeker, the Securities and Exchange Commission’s chief accountant, is staying away from predictions about the harmonization of the U.S. Generally Accepted Accounting Principles and the International Financial Reporting Standards.

Inside ETFs Conference Coverage

    IndexUniverses Inside ETFs Conference was held at the Westin Diplomat Resort and Spa in Hollywood, Fla., Jan. 22-24. It attracted more than 1,200 attendees, up from 900 last year. Senior Reporter Cathy Scott was on the scene covering the premier event for exchange-traded funds providers and investors.

  • Jan 27, 2012 -- by Cathy Scott

    ETF Heavyweights Tout Divergent Strategies

    Five exchange-traded funds providers that account for more than 90% of the industry’s $1.1 trillion of assets under management are taking divergent approaches to development in 2012. Senior executives at BlackRock iShares, State Street Global Advisors, Vanguard, Invesco PowerShares and Proshares touted their respective strategies and debated their merits at IndexUniverse’s Inside ETFs Conference in Hollywood, Fla., Jan. 22-24.

  • Jan 27, 2012 -- by Cathy Scott

    Innovation Fuels Advance of Fixed-Income ETFs

    The dominant theme for fixed-income exchange-traded funds is innovation, and attendees at IndexUniverse’s Inside ETFs Conference in Hollywood, Fla., were told to expect this year the launch of funds with more precise sector and credit buckets in the U.S. and more hedged and unhedged single-country exposure in emerging markets.

  • Jan 27, 2012 -- by Cathy Scott

    Providers Argue For Passive/Hybrid/Active ETF Combo

    The progression of exchange-trade funds product development from passive indices to hybrid alternative weightings to actively managed gives investors the flexibility and control to create diversified portfolios, panelists argued at IndexUniverse’s Inside ETFs Conference in Hollywood, Fla., this week.

  • Jan 27, 2012 -- by Cathy Scott

    Index Construction Paramount In Emerging Markets ETFs

    Understanding and targeting index construction is paramount for investing in emerging markets exchange-traded funds, said participants in a panel at IndexUniverse’s Inside ETFs Conference in Hollywood, Fla., this week.

  • Jan 25, 2012 -- by Cathy Scott

    ETF Industry Grapples With Index Construction Debate

    An increasing number of exchange-traded funds providers are launching products that track indices which use alternative weighting methodologies to traditional market-cap weighting, sparking an industry-wide debate over the efficacy of these strategies.

  • Jan 27, 2012 -- by Cathy Scott

    Reporter's Notebook

CEFNetwork: Insight and Englightenment into the World of Closed-End Funds Conference

    Even though a general, pre-election political impasse is most likely to continue on Capitol Hill, Congress-watchers say they see at least a chance that legislation extending tax breaks might move before November’s elections. Even though a general, pre-election political impasse is most likely to continue on Capitol Hill, Congress-watchers say they see at least a chance that legislation extending tax breaks might move before November’s elections. Congress-watchers say they see at least a chance that

  • Nov 10, 2011 -- by Cathy Scott

    Strategists: Closed-End Funds Aren’t Diversifiers

    There is a high level of correlation among closed-end funds, and investors should be wary about using these products alone to build diversified investment portfolios, said Michael Jabara, v.p. and head of exchange-traded and closed-end fund research at Morgan Stanly Smith Barney.

  • Nov 10, 2011 -- by Cathy Scott

    PMs Position CEFs As Illiquid Markets Access

    Investors can access diverse, illiquid markets via the closed-end funds structure, including senior floating-rate loans, precious metals and early-stage companies, portfolio managers at the CEFNetwork conference at the Grand Hyatt in New York on Nov. 9 said.

  • Nov 10, 2011 -- by Cathy Scott

    Analysts To CEFS: Beware Capital Borrowing

    Return of capital is the 800-pound gorilla in the room when it comes to equity-based closed-end funds, according to panelists at the CEFNetwork conference at the Grand Hyatt in New York on Nov. 9.

  • Nov 10, 2011 -- by Cathy Scott

    CEFs Need To Watch Strategy To Drive Returns

    Returns on closed-end fund investments are often driven by trading strategies, such as discount capture and investing in funds that have managed distribution programs (MDP).

Schwab IMPACT 2011

    Charles Schwab’s IMPACT 2011 Conference was held at San Francisco’s Moscone Center from Nov. 1 to Nov. 4. It attracted some 4,000 attendees, more than 2,000 of whom were registered investment advisors. Senior Reporter Cathy Scott was on the scene for one of the industry’s premier annual events. Photos courtesy of Schwab.

  • Nov 03, 2011 -- by Cathy Scott

    Schwab Upgrades Portfolio Rebalancer

    Advisors can now exclude client holdings from rebalancing calculations and generate individual or block trade files for equities and exchange-traded funds, along with matching allocation files, on Charles Schwab’s Portfolio Rebalancer.

  • Nov 04, 2011 -- by Cathy Scott

    Long-Term Horizon, Manager Selection Key To EM Returns

    Advisors seeking yield in emerging markets should have at least a five- to seven-year investment horizon and focus on the manager selection process, participants in a panel session at Charles Schwab’s IMPACT advised.

  • Nov 03, 2011 -- by Cathy Scott

    Fixed-Income, Currency Strategies Dominate ETF Development

    Fixed-income and currency strategies are dominating development pipelines in the exchange-traded funds space.

  • Nov 03, 2011 -- by Cathy Scott

    Changes In Portfolio Theory Threaten Active Strategies

    Changes in portfolio theory, such as the notion that alpha comes from factor bets rather than security selection, threaten the demise of actively managed, long-only equity strategies, according to Patrick Geddes, chief investment officer at Aperio Group.

Alternative Mutual Funds Forum Coverage

  • Sep 28, 2011 -- by Cathy Scott

    Asset Managers Tout REITS

    Asset management firms that offer real estate investment trusts recommend advisors put 5-10% of their clients’ assets in the sector, citing strong fundamentals.

  • Sep 28, 2011 -- by Cathy Scott

    JPMorgan: Portfolios Need Alts

    Investment portfolios should include some level of alternatives investments to provide exposure to uncorrelated asset classes, according to David Kelly, chief market strategist at JPMorgan Asset Management.

  • Sep 30, 2011 -- by Cathy Scott

    Divergent Alts Strategies Highlight Need For Education

    The divergent strategies outlined by the four portfolio managers on the Long/Short Debt panel at Monday’s Alternative Mutual Funds Forum in Boston underscore the necessity of carefully evaluating the hedge fund-like strategies that are being packaged into mutual funds and exchange-traded funds, financial advisor attendees said.

23rd Annual Morningstar Investment Conference

  • Jun 09, 2011 -- by Jason Kephart

    Morningstar Looks Forward With New Ratings

    Morningstar will begin rolling out a new forward-looking rating system for open-end mutual funds this fall.

  • Jun 09, 2011 -- by Jason Kephart

    PIMCO Total Return ETF Steals Spotlight

    PIMCO’s highly anticipated actively managed Total Return exchange-traded fund took center stage during the “Fund Research Roundtable” session at the 23rd annual Morningstar Investment Conference.

  • Jun 08, 2011 -- by Jason Kephart

    Gross: Bond Investors Must Get Outside U.S.

    Bond investors are going to have to look outside of the U.S. in order to achieve a total return above inflation, Bill Gross, co-chief investment officer at PIMCO, told attendees at the 23rd annual Morningstar Investment Conference.

ICI 53rd Annual General Membership Meeting

  • May 06, 2011

    Vanguard, Legg Mason To Enhance Social Media Use

    Vanguard Group and Legg Mason, already heavy users of social media outlets, are planning to enhance and expand what they do online.

  • May 05, 2011

    No Love Lost On Consultants

    Staley Cates, president of Longleaf Partners Funds, pounced on the opportunity to air his (bad) feelings toward consultants during a session Thursday morning. When asked by moderator John Rogers, chairman and ceo of Ariel Investments, whether consultants ask him the questions they should be asking, Cates replied: “I’m not that fond of that part of the world and they’re not fond of us either. If they were fantastic investors, they’d probably be doing that instead of consulting about it.”

  • May 05, 2011 -- by Hillary Jackson

    Fund Bigs: Style Boxes Out, Go-Anywhere In

    The mutual fund industry will continue to move away from style boxes toward flexible mandates that enable fund managers to react to market events and invest wherever they see opportunity, executives from JPMorgan Funds, OppenheimerFunds, Fidelity Investments and Invesco Perpetual (U.K.) said Thursday morning.

  • May 05, 2011 -- by Hillary Jackson

    Longleaf: Selling Minority Stake A Possibility

    Longleaf Partners Funds President Staley Cates told attendees on Thursday that while the firm intends to remain a private entity, it may consider selling a minority interest in the firm in the future.

  • May 05, 2011 -- by Hillary Jackson

    ‘Experienced’ Managers Dole Out Advice To Consultants

    Consultants rarely ask asset managers questions that get at the heart of what the managers do and what they’re likely to deliver, according to the four seasoned investors who comprised the “Experience Talks” panel Thursday morning.

  • May 05, 2011 -- by Hillary Jackson

    Eaton Vance To Enter ETF Arena By Year’s End

    Eaton Vance will launch its first actively managed exchange-traded fund before year-end to meet “very high demand” from its client base.

2011 ICI Investment Management Conference

  • Mar 29, 2011 -- by Stan Wilson

    Banks To Unload Repo Risk

    A new system for overnight repurchase agreement transactions used by funds will soon be in place, according to Norman Lind, head money market trader at Fidelity Management & Research Corp.

  • Mar 29, 2011 -- by Stan Wilson

    Revenue Sharing Disclosure Could Go Online

    The top advisor to the chairman of the Securities and Exchange Commission supports using the Internet to inform investors of revenue sharing arrangements.

  • Mar 29, 2011 -- by Stan Wilson

    Ex-FSA Official Sees Info Gap In Fund Sales

    Disclosing broker conflicts of interest when fund shares are sold may not be enough to ensure investors don’t get burned by the products they buy, a former European regulatory official suggested at a panel during the Investment Company Institute Investment Management Conference.

DCIIA 2011 Public Policy Forum

  • May 11, 2011 -- by Jean Heinz

    GAO Vets Tax Saver’s Credit

    The Government Accountability Office is researching modifications to the existing saver’s credit in the tax code, which could further encourage lower-income workers to save for retirement.

  • May 12, 2011 -- by Jean Heinz

    Retirement Players Talk 401(k) Leakage

    Industry leaders Tuesday said they were concerned about the growing prevalence of leakage in 401(k) plans and its impact on retirement security at the Defined Contribution Institutional Investment Association 2011 Public Policy Forum.

  • May 12, 2011 -- by Jean Heinz

    NYC Takes Action On Retiree Asset Outflows

    The New York City Deferred Compensation Plan is aggressively targeting retention of retiree accounts and is making headway, Manager Shauna Marcus said at the Defined Contribution Institutional Investment Association 2011 Public Policy Forum.

ICI Tax & Accounting Conference

  • Sep 15, 2011 -- by Stan Wilson

    Hedge Funds Invade Mutual Fund Market

    By forcing hedge funds to register with the Securities and Exchange Commission, the Dodd-Frank Act has opened the door to hedge funds to go after the same retail investors as mutual funds, panelists told attendees of the Investment Company Institute’s Tax & Accounting Conference.

  • Sep 15, 2011 -- by Stan Wilson

    OCIE Lays Out Priorities

    Securities and Exchange Commission’s Office of Compliance Inspections and Examinations outlined its priorities during a panel last week at the Investment Company Institute’s Tax and Accounting Conference.

  • Sep 14, 2011

    SEC Enforcement Outlines Fund Priorities

    The accounting chief of the Securities and Exchange Commission’s Division of Investment Management laid out the asset management unit’s priorities for the audience on Monday at the Investment Company Institute Tax & Accounting Conference.

  • Sep 13, 2011 -- by Cathy Scott

    Turner Savages Accounting Standards

    Lynn Turner, former Securities and Exchange Commission chief accountant blasted present accounting standards for failing to fairly value bad assets and instead focusing on compromise that shortchanges investors.

Upcoming Events