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’Did someone say commission-free ETFs?
Ron Rowland, editor of Invest with an Edge, is very excited. He’s just discovered that Charles Schwab is upping the ante on the exchange-traded fund industry by launching commission free ETFs.
In fact,
Auction rate securities: market dead, litigation alive and well
Did anyone who bought or sold auction rate securities understand what they were getting into? The slew of recent litigation on Wall Street over these instruments would tend to suggest otherwise.
First,
Ameritrade to buy back auction rate securities
TD Ameritrade, the US online broker, became the latest company to agree to repurchase auction rate securities from investors as part of a settlement with regulators investigating the collapse of the market for the debt instruments,
MS hires from US Trust to pursue ‘ultra wealthy’
Morgan Stanley is chasing the growing breed of “ultra wealthy” individuals, worth at least a net $50m each, saying on Monday it has hired a former US Trust Co executive to lead a new group to serve these ultra-wealthy clients,
Mutual funds eye next-generation ETFs
Surging interest in next-generation exchange-traded funds is spilling into the more staid index mutual-funds marketplace, reports MarketWatch [via Hedgewire].
Charles Schwab & Co launched three open-ended mutual funds on Monday to track benchmarks based on valuation criteria that fund managers often use to pick stocks.