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Investing Against COVID-19 |
“Coming into the crisis, we were 3% or 4% above the midpoint of our TDF glide path allocation,” recalls Dan Oldroyd, portfolio manager and head of target-date strategies at J.P. Morgan Asset Management in New York City. “We got ourselves back to neutral at the end of February, and through March down to an underweight of 3% to 4%. Our biggest concern at that point was how bad things might get, so it wasn’t until mid-April that we started to put money back to work and return to an overweight.”
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15th Anniversary of RPAY: Rick Wedge |
When he won the 2010 Retirement Plan Adviser of the Year award, Rick Wedge’s practice had $300 million in assets under advisement. Today, Wedge, a managing director with Pensionmark, advises on more than $1 billion.
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SEC Fund Report Proposal Seen as Big Step Toward Modernization |
One attorney who works on Securities and Exchange Commission compliance issues says the proposal will help retail investors digest key information while ensuring transparency remains a top priority.
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Market Mirror |
Wednesday, the Dow dropped 525.05 points (1.92%) to 26,763.13, the NASDAQ fell 330.65 points (3.02%) to 10,632.99, and the S&P 500 lost 78.65 points (2.37%) to finish at 3,236.92. The Russell 2000 closed 45.50 points (3.04%) lower at 1,451.46, and the Wilshire 5000 plunged 842.69 points (2.48%) to 33,167.11.
The price of the 10-year Treasury note was unchanged, with its yield down to 0.675%. The price of the 30-year Treasury bond was up 1/32, decreasing its yield to 1.423%.
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