Weekly mutual fund news

Vanguard tops list of excessive CEO pay enablers – The American Federation of State, County and Municipal Employees (AFSCME) analyzed 26 of the largest mutual fund families’ voting patterns on compensation proposals in 2010 and released a new report this week, revealing Vanguard was the mutual fund industry’s greatest “pay enabler.”

More than $100M allocated to SteelPath MLP Mutual Funds – Deseret Mutual Benefit Administrators, a third-party administrator of financial benefit plans, recently allocated over $100 million to the SteelPath MLP Alpha Fund Class I (MLPOX). Dallas-based investment advisory firm, SteelPath Fund Advisors specializes exclusively in Master Limited Partnerships (MLPs), funds that are focused exclusively on investing in energy infrastructure through the emerging midstream energy MLP asset class. In March 2010, the company became the first investment advisor to offer open-ended MLP mutual funds. One year after the launch, the SteelPath mutual fund family had over $1 billion in assets.