WASHINGTON (Reuters) - U.S. President Donald Trump said on Wednesday he will look for “land mines” in a government funding bill, though he also said he does not want to close the government for the second time this winter. Trump told reporters before a meeting with Colombian President Ivan Duque that he would decide whether to sign the government funding legislation when he sees it. Reporting by Roberta Rampton; writing by Makini Brice; editing by Jonathan Oatis … [Read more...] about Trump says will look for ‘land mines’ in funding bill
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By Simon Jessop and Ritvik Carvalho LONDON (Reuters) - A record number of 'socially conscious' mutual funds and exchange-traded funds were launched by asset managers last year, keen to tap growing demand from retail investors. A total of 382 such funds were launched globally during 2018 to take the total to 3,160, industry tracker Morningstar said. Collectively, they manage $1.2 trillion in assets, double the $622 billion (480 billion pounds) managed in 2009. Total flows into the funds were $39 billion, down from the prior year's $72 billion, in part as a result of weaker investor sentiment that saw global stock markets sell off on fears tighter central bank monetary policy could hit economic growth. For an interactive version of the below chart, click here https://tmsnrt.rs/2Sg7eD7. "Over 2018, you really saw ESG adopted across the industry," said Morningstar analyst Anastasia Georgiou, referring to the environmental, social and governance-related issues (ESG) that help determine … [Read more...] about ‘Socially Conscious’ mutual fund launches at record high
In the investing world, there's no such thing as a free lunch. But that all changed last week, when Fidelity Investments, the mutual fund and brokerage giant, launched two stock index funds with zero expenses. To be clear, this is a unique thing in the financial industry. It costs a firm money to operate a fund, which includes costs for things like office space, employee salaries, trading, regulatory filings and legal expenses. Fidelity is the first major fund manager willing to absorb these costs for two of its index funds. The new zero-cost funds mean that investors in these funds will experience the same returns as provided by the broad range of stocks that make up the index, without any loss of returns because of fees. The two new funds are the Fidelity Zero Total Market Index Fund (FZROX) and the Fidelity Zero Internal Index Fund (FZILX.) The total market index fund seeks to provide the investment returns of the broad market of U.S. stocks. The International index fund … [Read more...] about Fidelity offers new zero-cost mutual funds – should you switch?
More than 30 Colorado mayors, town trustees and council members sent a letter Aug. 8 urging Congress to permanently reauthorize and fully fund the Land and Water Conservation Fund, which helps to finance outdoor recreation projects.The fund “is a vital component of job creation and economic development through support for public land infrastructure,” the letter reads.Reauthorizing the fund “will encourage further infrastructure investments and provide a long-term funding solution to ensure protection of America’s natural heritage and outdoor recreation opportunities,” it continues.The letter was signed by more than 60 local elected officials from 10 states and sent by the Mountain Pact, an organization that works with mountain towns that have outdoor recreation-based economies in the American West.Last month, Gov. John Hickenlooper sent a plea to members of Colorado’s congressional delegation, urging them to push for full funding of the fund, which … [Read more...] about Colo. local officials urge reauthorization of land, water conservation fund
The price war among mutual fund companies is hitting a new frontier -- to the further benefit of investors: Fidelity Investments says it will soon offer a pair of mutual funds that charge zero in expenses. That's not a typo. The new 0% index funds are part of a suite of changes Fidelity is making to lower expenses and make investing easier, even for investors with smaller amounts to put into the market. Mutual fund companies have been battling to attract customers, who have become increasingly aware of how much high fees can limit returns. The two zero-fee Fidelity index funds will be available Friday. One will cover the U.S. stock market, and the other will follow the international stock market. These kinds of funds often form the centerpiece of a retirement portfolio, along with bond funds. … [Read more...] about Fidelity cuts fees to as low as 0% as mutual fund companies battle for investors