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Weekday news and analysis for retirement plan advisers
Tuesday, May 31, 2022
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DENSO International America Faces Multi-Pronged ERISA Suit
The complaint includes not just allegations of excessive fees, but also a charge that fiduciaries offered an underperforming stable value fund.
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Retirement Industry People Moves
J.P. Morgan Asset Management hires new global head of broker relationship management; Mercer Appoints New West market wealth business leader; Two advisory teams managing nearly $400 million join Cetera; and more.
Today’s Most Read
1. Franklin Templeton to Acquire Putnam for $925 Million
2. Congress Says It Will Fix at Least 4 Errors in SECURE 2.0
3. SS&C Adds Allianz Retirement Income Annuity to DC Plan Platform
Facing Criticism for ESG Rules, SEC Unlikely to Back Down
Attorneys who track financial regulations say SEC Chair Gary Gensler has no qualms about pushing forward big, ambitious proposals, even if they are destined to be challenged in the courts.
Fixed Annuity Products Lead Annuity Sales
Fixed annuity sales rose 14% in the first quarter, with all fixed products except income annuities recording positive growth.
Personalized Participant Investment Experience and Data Integration Are Top Priorities for Advisers
Advisers prefer managed accounts as a retirement income solution, a PIMCO survey shows.
Market Mirror Market Mirror Graph

Friday, the Dow gained 575.77 points (1.76%) to close at 33,212.96, the Nasdaq was up 390.48 points (3.33%) to 12,131.13 points, and the S&P increased 100.40 points (2.47%) to 4,158.24. The Russell 2000 gained 49.62 points (2.70%) to 1,887.86, and the Wilshire 5000 increased 1,043.62 points (2.59%) to 41,391.59.

The price of the 10-year Treasury note was unchanged with its yield increasing to 2.745%. The price of the 30-year Treasury bond increased 23/32 lowering its yield down to 2.970%.

For the week ending May 27, the Dow increased 6.24%, the Nasdaq gained 6.24%, and the S&P 500 was up 6.84%. The Russell 2000 climbed 6.46%, and the Wilshire 5000 was up 6.59%

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