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05.05.2008 10:45 am

“Blue” investors are singing the blues

St. Louis Post-Dispatch

The concept of “blue” investing — buying shares of companies that support the Democratic party — isn’t working out so well for mutual-fund investors. The Wall Street Journal reports today that Blue Investment Management has folded its small-cap fund and…

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03.21.2008 5:35 pm

Divestment fight comes to mutual funds

St. Louis Post-Dispatch

Whether to own companies with ties to Sudan has a big issue in the pension-fund world for several years. Illinois passed a law in 2005 requiring its state funds to sell their Sudan-related shares, only to see it declared unconstitutional last…

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12.07.2007 5:51 pm

Broker-aided investors have poor timing

St. Louis Post-Dispatch

One possible justification for using a stockbroker — as opposed to being a do-it-yourself investor, or working with a fee-based planner  – is that the broker may give you good advice about when to buy stocks. Alternatively, he/she may perform…

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04.19.2007 4:51 pm

Morningstar calls for abolishing 12b-1 fees

St. Louis Post-Dispatch

Morningstar  has joined the chorus calling on the Securities and Exchange Commission to abolish 12b-1 fees. The “distribution” charge, as I pointed out in Wednesday’s column, was originally intended to help struggling funds cover their postage and advertising costs, but it…

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04.16.2007 3:01 pm

Let’s hope Cox is serious about 12b-1 fees

St. Louis Post-Dispatch

SEC Chairman Christopher Cox said recently that the commission is taking a hard look at 12b-1 fees, which mutual funds levy for “distribution costs.”  Funds collected $11 billion of such fees last year, with most of the money going to brokers through…

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01.25.2007 5:36 pm

Edwards faces hearing on fund trading

St. Louis Post-Dispatch

The Illinois Secretary of State’s office has scheduled a hearing for Feb. 7 on market-timing allegations involving A.G. Edwards & Sons. The state says it “has obtained evidence of multiple violations of the Illinois Securities Law” by four Edwards branches in…

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12.14.2006 11:35 am

Fidelity is sued over 401k fees

St. Louis Post-Dispatch

According to the Wall Street Journal (subscription required), St. Louis attorney Jerome Schlichter has added Fidelity Investments and Deere & Co. to the list of companies he is suing over fee disclosures in 401k plans. Fidelity manages Deere’s 401k, and according…

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12.13.2006 4:52 pm

Jones fined over fund sales

St. Louis Post-Dispatch

The NASD has fined Edward Jones $250,000 for overcharging customers who bought mutual funds.  The regulatory body said Jones and three other firms charged a sales load to customers who should have qualified for a no-fee fund purchase. No-fee purchases are sometimes…

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