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cover story
The World Turned Upside Down
The current turmoil threatens broker/dealers as more advisers think about going independent—when the market improves
intro
Through the Looking Glass
As 2009 rolled in, I think there were hopes that the financial services world would say goodbye to the problems of 2008.
Morgan Stanley Launches Long/Short Hedge Fund of Funds
Morgan Stanley Investment Management (MSIM) has launched the Morgan Stanley Global Long/Short Fund, a fund of hedge funds.
Wilmington Trust Expands with Acquisition of AST Capital Trust
Wilmington Trust FSB has agreed to acquire AST Capital Trust Company, a provider of directed trustee, trust administration, and back-office services.
403(b) Interests Excluded from Bankruptcy Turnover
The U.S. Bankruptcy Court for the Southern District of Ohio has ruled the interests of seven debtors in Employee Retirement Income Security Act (ERISA) Section 403(b) plans did...
Fund Assets Swell to $12T in December
The combined assets of the nation's mutual funds decreased by $30.4 billion, or 0.3%, to $12.04 trillion in December, according to the Investment Company Institute (ICI).
New S&P India Index Meets Socially Responsible Investing Standards
Standard&Poor’s, CRISIL, and KLD Research&Analytics, a social and environmental research firm, have announced the launch of the S&P ESG India Index.
Symetra Names New Two New Managers for Group Benefits Business
Bill Boyett and Eric Nelson have been named regional managers for Symetra Financial’s Group division, responsible for working with agents and brokers to market and distribute Symetra’s worksite...
Nationwide Pairs Target-Date Funds with Fund Window
Nationwide Financial Services is now offering a new plan design that includes target-date funds as core investment options along with a mutual fund window.
Could Perfect Pats Pummel Portfolios?
Perfection is a rare thing, particularly in sports.
Older Employees More Likely to Participate in Retirement Plans
The likelihood of being a retirement plan participant increases with age, according to the Employee Benefit Research Institute (EBRI).
MacKay Shields Announces High Yield 130/30 Fund
MacKay Shields LLC, and its affiliate New York Life Investment Management (NYLIM), announced the availability of the company’s first 130/30 fixed income product offering.
Annuities in 401(k) Plans Increasingly Accepted
Annuities in defined contribution plans are gaining momentum as aging baby boomers seek to create guaranteed retirement income streams, according to a report from the Financial Research Corporation...
MMC Turns to Duperreault as new CEO
Marsh&McLennan Companies, Inc. (MMC), whose insurance brokerage unit has undergone management changes in recent months, on Wednesday tapped Brian Duperreault as MMC’s new president and chief executive officer.
SEC Smacks Firm with $3.9 Million Fine for Fund Mispricings
The Securities and Exchange Commission (SEC) has fined Heartland Advisors Inc. $3.9 million for mispricing two municipal bond funds.
Shariah Compliant Index Series Launched
FTSE Group, a global index company, and Yasaar Research on Wednesday launched the FTSE Shariah Global Equity Index Series.
Claymore Launches China Small Cap ETF
Claymore Securities, Inc. announced the launch of the Claymore/AlphaShares China Small Cap Index exchange-traded fund (ticker: HAO) on the American Stock Exchange.