Products June 30, 2010

Morningstar Introduces StockInvestor Core Index

Morningstar, Inc. has created the Morningstar StockInvestor Core Index , a diversified portfolio of stocks from the Tortoise and Hare portfolios featured in the Morningstar StockInvestor newsletter.

Reported by

The Tortoise and Hare portfolios comprise high-quality companies that are trading at sharp discounts to what Morningstar’s equity research analysts believe they’re worth. The StockInvestor Core Index holds almost all of the stocks from the Tortoise and Hare portfolios.   

According to a press release, to be eligible for inclusion in the StockInvestor Core Index, a stock must have $100 million in market capitalization, a Morningstar Economic Moat Rating of Narrow or Wide, and a Morningstar Rating for stocks of at least four stars. The Morningstar StockInvestor Core Index will use the ticker symbol MSIC.  

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The announcement said Invesco PowerShares Capital Management LLC has licensed the StockInvestor Core Index to serve as the new benchmark for the PowerShares Value Line Industry Rotation Portfolio ETF, which has been renamed the PowerShares Morningstar StockInvestor Core Portfolio (see Invesco PowerShares ETFs Undergo Index and Name Changes).   

More information is at http://indexes.morningstar.com.
Deals & People June 30, 2010

The Hartford Names New President of Wealth Management

The Hartford Financial Services Group, Inc. has named David N. Levenson President of Wealth Management, effective July 1.  
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John C. Walters, current president of Hartford Life, will leave The Hartford at the end of July to pursue other opportunities. 

According to a press release, Levenson joined The Hartford in 1995 from Fidelity Investments, and since that time has worked in nearly every aspect of the company’s wealth management business. He led the development of The Hartford’s mutual funds operations and also ran the retirement plans business before heading the retail products business.  

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In 2005, he joined Hartford Investment Management Company (HIMCO) as Managing Director in charge of sales and marketing.  

From 2006 to 2009 he was with Hartford Life Insurance K.K., the company’s Japan subsidiary, where he initially was charged with leading a turnaround as head of product and distribution and ultimately was named President and CEO. He returned from Japan in July 2009 to serve as executive vice president leading the company’s in-force domestic variable annuity business and its international and institutional business segments, the announcement said.  

Levenson earned a bachelor’s degree from the Wharton School at the University of Pennsylvania and a master’s in business administration from Columbia Business School. He is a Fellow of the Society of Actuaries (FSA) and is a Chartered Financial Analyst (CFA).  

 

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