Deals & People September 20, 2011

eVestment Acquires HedgeFund.net

eVestment Alliance, a global provider of institutional investment data intelligence and analytic solutions, has acquired Channel Capital Group, owner of HedgeFund.net, a source for hedge fund data, research, and news.
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The combined company will provide a single, global database serving institutional investment professionals who focus on either alternative or traditional investments, as well as “hybrid” investors who seek solutions to help them select and manage investments across both investment categories.   

eVestment’s dataset of over 20,000 institutional strategies will be combined with HedgeFunds’s 18,000+ alternative strategies.  Both will leverage the eVestment Analytics system, the platform for online manager comparisons, research, and competitive intelligence.  

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“We are excited to join forces with eVestment and combine our established credibility with hedge funds with the most influential data and analytics provider in the institutional investment industry,” said Joel Schwab, COO of Channel Capital Group.
Data & Research September 20, 2011

Financial Professionals Increase Retirement Confidence

The latest Principal Financial Well-Being Index finds workers who use the help of financial professionals are more confident in the adequacy of their retirement savings than those who are not.
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Forty-two percent of workers who use an adviser say they are saving enough money in order to live comfortably in retirement, compared to 22% who do not use an adviser.  

Workers also report mixed views on how much they need to put away in order to have enough money coming in during retirement. Twenty-two percent think they need to save 1% – 8% of their pay (including any employer match), and 56% think they need to save 9% or more of their pay (including any employer match).In practice, more workers (42%) report saving 1% – 8% of their income, including any employer match, than those who say they are saving 9% or more (30%).    

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The survey also found the number of Americans who are concerned about their long-term financial future rose dramatically – to 67% in the third quarter for retirees (from 43% last quarter) and to 68% for workers (from 63%).  

Short-term concerns also grew in the third quarter with 28% of workers and 36% of retirees reporting they are pessimistic regarding the economic outlook for the rest of 2011, up from 20% for workers and 21% for retirees last quarter. Looking beyond 2011, 58% of retirees and 46% of workers say the economy will worsen in 2012.

Saving for College More Difficult  

The Principal Financial Well-Being Index found that among workers and retirees who have children that are not already out of school, 39% of workers and 26% of retirees are saving for their children’s college education. Seventy-four percent of workers and 59% of retirees report that the economy has made it more difficult to save for their children’s future college education.  

Nearly three quarters of retirees (72%) who are saving for their children’s college education are satisfied with their level of savings, while only 30% of workers who are saving are satisfied.  

For workers, the top reasons for not saving for their children’s college education are finances (53%), followed by the expectation their children will pay via student loans (26%) or through scholarships (25%).  

See the full report and past results at http://www.principal.com/wellbeing.

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