JOHANNESBURG (Reuters) - The final results of southern African kingdom Lesotho's general elections revealed no outright winner as the ruling All Basotho Congress party narrowly edged out its nearest rivals in the weekend poll, data on the website of country's electoral commission showed on Wednesday. Incumbent prime minister Thomas Thabane's party won 40 constituencies, just three more than the Democratic Congress (DC,) as the close race tested the durability of a South Africa-brokered truce following an attempted coup by the army last August.
By Tim McLaughlin BOSTON (Reuters) - Mutual fund companies, including No. 2 Fidelity Investments, have slashed fees on their most popular funds by shifting billions of dollars into collective trusts not regulated by the U.S. Securities and Exchange Commission. The growing shift to collective trusts could prove a weapon for actively managed mutual funds losing out to low cost passive investment products such as the exchange-traded funds offered by rivals such as Vanguard Group, the biggest mutual fund company. "CITs are more opaque to the outside world because reporting requirements are not as stringent," said Michael Rawson, manager of research at Morningstar Inc. Retirement plans sponsored by Delta Air Lines Inc cut fees by 23 percent last year when they shifted an estimated $1 billion in assets managed by Fidelity's Contrafund into a collective investment trust (CIT).