UBS says it intends to rely on certain facts to defend itself; for one, that it suffered massive losses on U.S. mortgage-related assets, including the residential mortgage-backed securities (RMBS) cited in the complaint, negating any inference of fraud.
The Standard Grows Stable Value Fund Options, and First Trust Creates Dow Jones International Internet ETF.
BNY Mellon says higher allocations to U.S. equity drove outperformance.
“Despite a growing emphasis on de-risking among large institutional asset owners, the need to generate returns and meet future funding targets remains paramount,” says John McDonough, head of distribution and marketing at OppenheimerFunds.
The checklist is included in a guide that offers questions to ask and items to consider.
A test of the summary report found more than 90% of mutual fund investors agreed it was enough to help them stay informed and was a document they would be more likely to read than current reports.
PGIM Rolls Out First of Set of ETF Expansion; Invesco Acquires MassMutual Asset Management Affiliate; and Horace Mann and SWBC to Offer Investment Solutions for Educators.
In addition to self-dealing allegations, the complaint calls out Fidelity for not negotiating revenue sharing refunds for its 401(k) plan participants and not considering stable value options for its plan investment lineup, among other things.
The percentage of U.S. institutional investors that reject ESG outright shrank dramatically year over year, from 51% to 34%, according to RBC Global Asset Management’s third annual Responsible Investing Survey.
SS&C Technologies acquired DST Systems, so the new lawsuit is similar to a previous one against DST for failing to diversify assets in its profit sharing plan.
Thirty-one percent of LGBTQ respondents to a MassMutual survey acknowledge that they may be taking more risk than they should compared to 22% of other retirees and pre-retirees.
Although ESG ratings can be useful when used properly, they should not be the sole metric used to make investment decisions. A report gives examples.
Wilmington Trust subsidiaries were found not to be fiduciaries, but other claims against the M&T Bank retirement plan committee were moved forward.
A survey revealed that 46% of Millennials think you need at least $1,000 to start investing, and 17% think you need $10,000.
The consulting firm says that few plan sponsors pay close attention to how their employees allocate their retirement savings.
Claims that survived included fiduciaries breached their duties of loyalty and prudence in their selection and monitoring of investments, fiduciaries failed to monitor other fiduciaries, plan trustees failed to remedy actions of predecessors, and the fiduciaries engaged in prohibited transactions.
Greg Porteous, head of defined contribution intermediary distribution at SSGA based in Boston, says he sees the lowering of target-date fund (TDF) investment fees as a way to attract more 403(b) plan clients for two reasons.
The lawsuit claimed the excessive compensation received by PIMCO officers through the PIMCO Total Return Fund was so disproportionately large that investment returns suffered.
Lincoln Financial Creates Personalized Target-Date Portfolios; Aon Hewitt-Managed Pooled Funds Claim Compliance with GIPS; Broadridge Financial Increases Data and Analytics Team; and more.