Investing

Morningstar Unveils Fixed-Income Indexes

Morningstar, Inc. plans to come out with a family of fixed income indexes, which can be licensed to institutions for the creation of investment vehicles including such things as mutual funds, exchange-traded funds (ETFs) and derivative securities.

John Hancock Offers Advisers Two New Fund of Funds

John Hancock Funds has announced the launch of two new fund of funds products available to retail investors through their financial advisers: the John Hancock International Allocation Portfolio and the John Hancock Lifecycle Portfolios.

ThomasLloyd Group Launches Asset Management Group

ThomasLloyd Holdings plc has announced that the combined asset management divisions of US-based Illington Fund Management LLC and European-based DKM Asset Management AG are now operating as ThomasLloyd Global Asset Management.

Mellon Releases Target Maturity Funds

Mellon Capital Management Corporation has launched the Mellon Capital Target Maturity Funds, a group of portfolios designed to systematically adjust investors' asset allocation as they approach their projected retirement date.

ICI: ETF Assets Grow to $396B in November

The total combined assets of the nation's exchange-traded funds (ETFs) climbed 3.5% to $396.73 billion in November, according to an Investment Company Institute (ICI) news release.

Major US Exchanges Closed Tuesday for President Ford’s Death

The New York Stock Exchange and the Nasdaq will be shut down January 2 for a national day of mourning for the death of former President Gerald Ford, but The Depository Trust&Clearing Corporation (DTCC) said it would still clear and settle trades from earlier market activity.

Evergreen Settles With NASD for $4.2M

Evergreen Investments, a unit of Wachovia Corporation, agreed to pay a $4.2 million civil penalty to settle National Association of Securities Dealers (NASD) allegations that it adopted improper mutual fund sales methods.

DoL QDIA Proposal Prompts 98 Comment Letters

The Department of Labor’s (DoL) September proposal governing qualified default investment alternatives (QDIAs) evoked applause from the retirement industry, but that approval was soon followed by a flood of suggestions on ironing out the kinks before a final proposal is inked.

Participants Continue Return to Equities in November

With the Dow Jones Industrial Average at new record levels and the S&P 500 at highs not seen since 2000, 401(k) participants have begun to respond and net transfers favored equities on 62% of the days during the month, according to the Hewitt 401(k) Index.

Domestic Equity Reverses Course in October

Stock and bond funds experienced net inflows of $29.8 billion in October, led by International/Global funds with net inflows of $14.4 billion and Domestic Equity funds with an $8.4 billion net intake, according to data from the Financial Research Corporation (FRC).