Two former hedge fund managers at the soon-to-be-defunct Bear Stearns may soon be indicted.
Supporters of simplified disclosures for variable annuities may get a boost from a proposal that state insurance regulators will soon consider.
In a move to bolster its battered image, long-suffering Putnam Investments last week said that it is hiring industry veteran and former Fidelity Investments executive Robert L. Reynolds as its president and chief executive, effective July 1.
Net assets in variable annuities have also risen, reaching $1.39 trillion, compared to $1.38 trillion in the first quarter of 2007.
Managers of target date funds have increased their allocations to equities, on average, but some of the funds' specific investment strategies are difficult to discern, a new study from Financial Research Corp. has found.
Leveraging technology to drive growth, and handling information overload and system integration, were among the concerns advisers discussed at an InvestmentNews technology round table.
The debate about high mutual fund commissions and conflicts at the point of sale should be put to bed because sales of funds with high upfront commissions are a small part of overall sales, according to a recently released report.
First-quarter earnings hit $1.07 billion, the second highest level ever, a gain of $993.3 million from a year ago.
“We’re not going to move [the bill],” said Rep. George Miller, D.-Calif. “We don’t see the president signing it.”
