Mutual Fund Weekly News Roundup for October 17

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Mutual Fund News


Mutual Fund Weekly News Roundup for October 17

Shauna O'Brien Oct 17, 2014

Janus Capital to Buy VelocityShares

This purchase will also help the firm gain clients in the mutual fund and hedge fund industries.

According to the firm’s CEO Rick Weil, the purchase will "work with the growing segment of financial advisors and institutions focused on these instruments.”

Fidelity Investments Names Abigail Johnson as CEO

Abigail Johnson will replace her father, Edward C. Johnson, as CEO of Fidelity, but will continue to report to her elder as he will remain in the Chairman position.

Edward C. Johnson has served as CEO since 1977 when he took over his father’s position.

Abigail started at the company in 1988 where she was an equity research analyst.

Morningstar Releases September Asset Flow Data

Morningstar also reported that active U.S. equity funds saw outflows for the seventh consecutive month, while passive U.S. equity funds saw inflows for the eighth consecutive month.

With passive funds, every type saw inflows except for commodity funds.

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