The Markets March 12, 2008

Affluent Investors Like Both Mutual Funds and Alternatives

Research by The Phoenix Companies finds affluent households invest significantly in both mutual funds and alternatives, and half plan to change their investment allocations in the next year.
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In fact, 81% of respondents said they owned at least one mutual fund outside of an IRA, 401(k), 403(b), or other retirement plan and 74% hold an alternative investment.

According to a report on the research findings, real estate is the most widely held alternative investment (around 45%), followed by exchange-traded funds (ETFs) (nearly 30%), hedge funds/hedge fund of funds (around 25%), and private equity funds (over 20%).

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For 2008, the research results show that regardless of investment category, affluent investors are split about their investment plans. Forty-nine percent of mutual funds owners and 52% of alternative investment owners said they will continue to invest the same amount or more in the coming year, while 51% of mutual fund owners and 48% of alternative investment owners expect to be bearish and invest less in the coming year.

Phoenix said the survey suggests that the real concern for the coming year is overall investor confidence in the market. Affluent investors are undecided about whether to be bullish or bearish for 2008.

The January 2008 Phoenix High-Net-Worth Market Insights report is located here.

Products March 12, 2008

New York Life Launches New Finance Site for Women

New York Life Insurance Company has launched a site for female consumers, providing them access to detailed information and organizational tools for helping meet financial goals.
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The site, www.newyorklife.com/womenandfinance, focuses on top concerns for women, including planning for retirement, creating financial protection for their families, saving for their children’s education, and dealing with life’s major financial challenges, New York Life said in a press release.

The site features four sections: “Protect My Family,’ “Secure My Retirement,’ “Educate My Children,’ and “Manage My Finances.’ Each page features articles and actionable steps on how to achieve each goal. The content further includes access to the latest surveys and statistics, such as the recent study completed by a Wharton School professor on retirement income, and a link to www.guaranteesmatter.com, an educational tool for investors.

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To address an often-cited request from women for financial organization tools, New York Life agents will deliver a LifeFolio Kit to consumers. The LifeFolio Kit contains a guide to getting organized and a personal document checklist. It also helps women identify future insurance and financial needs and ways to meet them.

The new Web site includes real customers telling their stories and streaming video of several New York Life agents and managers speaking about their work experiences and addressing individual financial concerns. In addition, questionnaires and calculators help readers review and establish financial needs for retirement income, life insurance or college savings needs, as well as design household budgets.

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