The Markets March 6, 2009

Mutual Funds See Inflows in January

Stock and bond funds experienced net inflows of $22.3 billion in January, according to the Financial Research Corporation (FRC).
Reported by

Corporate Bond Funds led the way, with $16.1 billion in inflows, followed by tax-free bond funds ($3.8 billion) and equity funds ($3.0 billion). International/global equity funds experienced the largest net outflows of $895 million.

By Morningstar category, investors favored intermediate-term bond funds, which posted an inflow of $7.8 billion for the month, followed by high-yield bond funds and specialty-natural resources funds, which pulled in $3.7 billion and $2.99 billion, respectively.

For more stories like this, sign up for the PLANADVISERdash daily newsletter.

The best selling funds in January were the Vanguard Total Bond II ($13.5 billion), PIMCO Total Return ($3.2 billion), and State Street’s SPDR Gold Shares ($1.8 billion).

However, sales were not enough to counter market losses as the combined assets of the nation’s mutual funds decreased in January by $191 billion, according to the Investment Company Institute (see “Sales not Enough to Counter Mutual Fund Losses’).

More information is available at www.frcnet.com.

Deals & People March 6, 2009

OppenheimerFunds Reorganizes Retail Retirement Business

OppenheimerFunds has combined all segments of OppenheimerFunds’ retail retirement businesses into one unit and appointed Kathleen Beichert to lead it.
Reported by

Effective immediately, the company said, Beichert, SVP of Retirement Solutions, has been appointed director of retirement, directing the entire Retail Retirement business. Paul Temple and Clint Modler, currently vice presidents and directors of Retirement Distribution, will oversee sales of the Retail Retirement group.

Beichert, who has been at the company since 1995, will continue to manage the IRA and Retirement Income businesses, and now will drive product and marketing innovation through Oppenheimer’s Defined Contribution, Small Business, and 403(b) groups as well. She will report to Richard Knott, president, OppenheimerFunds Distributor Inc. (OFDI).

Want the latest retirement plan adviser news and insights? Sign up for PLANADVISER newsletters.

Temple and Modler, reporting to John McDonough, director of sales, will lead Oppenheimer’s retail retirement sales area, with particular focus on the bundled products and the adviser-focused defined contribution investment only (DCIO) business. Retirement plan consultants as well as the internal sales functions in New York and Denver will report to Temple and Modler.

“As the retirement business continues to evolve, I look forward to the opportunities this position presents,’ said Beichert. “In reorganizing the structure of our retail retirement business we will be better positioned within the marketplace to help our investors meet their retirement goals.’

«