Previously in Fund Action

• Money Funds Post Inflows

  Money fund assets incrased $3.53 billion for the week ended Wednesday on strong institutional fund inflows, according to the Investment Company Institute. Retail funds declined $5.88 billion. (The Wall Street Journal)

• Asian Fund Companies Expand

  Asian fund companies are beginning to expand outside their home markets. "They're just making inroads into regional markets....They are all very well funded and capitalized but need expertise. That track record needs to build over time to have a meaningful presence," said Ken Yap, director at Cerulli Associates. (The Wall Street Journal)

• Ameriprise Eyes Fees For Wealthiest Clients

  Ameriprise Financial said it plans to begin charging fees of up to $80 per year on the brokerage accounts of clients with $100,000 to $500,000. “I find this a little surprising and I can't imagine advisers are all that happy about it,” said Sean Cunniff, research director at The Tower Group. Many advisors are expected to pay the fees on behalf of their most-valued customers. (InvestmentNews)

• EGShares Launches India ETF

  EGShares has launched an exchange-traded fund designed to give exposure to Indian companies positioned to benefit from infrastructure development. The EGShares India Infrastructure ETF in 30 of the largest locally traded Indian companies in the infrastructure industry. (PlanSponsor)

• Aon Names Chicago Market Leader

  Aon Consulting named Patricia Smallsreed senior v.p. and Chicago market leader. She was recently managing principal and market leader for Towers Perrin in Detroit. (PlanSponsor)

• Hartford Names Government Market Exec

  Hartford Financial Services Group named Scott Sanderson v.p. for government market and client management in the retirement plans group. He was previously v.p. and national sales manager of the investment products division. (PlanSponsor)

• Funds See Inflows

  U.S. open-ended funds saw inflows of $14.1 billion in July, up from $13.5 billion in June, according to data from Morningstar. Morningstar said July saw an acceleration of this year's themes: equity and balanced funds saw outflows while bond, alternative and commodity flows saw inflows. (PlanAdviser)

• ETFs See Inflows

  U.S. exchange-traded funds posted $7.5 billion in inflows during the month of July, according to the latest report from Strategic Insight. International equity and taxable bonds drew most of July's inflows, SI said. (PlanAdviser)

• BNY Mellon, Western Securities China JV Looks To Beef Up Staff

  BNY Mellon Western Fund Management plans to almost double staff by 2011 after winning approval to do business in China. “We plan to increase staff to around 70 by around the end of next year from the 40 we have now,” said Bin Hu, ceo. The company is a venture between BNY Mellon and Western Securities Co. (Bloomberg)

• SimCorp: Firms See Growth As Top Priority

  Mutual fund firms now consider growth a top priority, placing it ahead of risk mitigation and cost containment, according to David Kubersky, managing director at SimCorp.