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Portfolio Oversight
Upcoming Senate Hearing on Tax Treatment of Funds Investing Indirectly in Commodities
January 25, 2012
Tomorrow at 10 a.m., the Senate Permanent Subcommittee on Investigations will hold a hearing titled: "Taxation of Mutual Fund Commodity Investments." The hearing notice states that the hearing will examine "the issuance of over 70 private letter rulings by the Internal Revenue Service allowing mutual… read more
CFTC May Adopt New Rules for Mutual Funds in the Coming Days
January 24, 2012
According to a Bloomberg article, the CFTC may vote in the next few days to require mutual funds to abide by new marketing and registration rules when they use derivatives tied to commodities. According to the article, multiple sources have said that the proposed… read more
UBS Charged with Mutual Fund Pricing Violations
January 18, 2012
Yesterday, the SEC charged UBS Global Asset Management ("UBS") with failing to properly price securities in three mutual funds it manages, resulting in a misstatement to investors of the funds' NAVs. UBS, without admitting or denying the SEC's findings, has agreed to pay $300,000… read more
Alternative Methods For Rating Mutual Funds
January 11, 2012
Morningstar launched a new qualitative rating system for mutual funds at the end of last year called the "Morningstar Analyst Ratings." These ratings supplement the traditional "star" ratings which are based on past risk- and load- adjusted returns. The Morningstar Analyst Rating scale includes… read more
SEC Uses Computer Analysis to Identify Fraud in Mutual Funds
January 04, 2012
The Wall Street Journal recently reported on the SEC's use of computer analysis to detect fraud in mutual funds. In 2009, the SEC began developing a computerized system to analyze the monthly returns from thousands of hedge funds. According to the Wall Street Journal, "[o]fficials… read more