Franklin Resources reported a 21% increase in profits while Janus Capital Group experienced a 29% drop in earnings.
Piper Jaffray's earnings fell 27% with net income falling to $15.1 million while Jefferies reported a loss of $24.2 million.
The new benefit will go with UBS’s target retirement funds and other investment options.
Asian stocks bounced back while European securities slumped following the Federal Reserve's interest-rate cut.
Ex- hedge fund chief James Marquez was ordered to serve 51 months for conspiring to defraud investors.
Treasury Secretary Henry Paulson this morning expressed optimism that a temporary growth plan can be enacted quickly.
The recommendations are designed to handle conflicts of interest between managers and investors.
Although they are pessimistic about the U.S. economy, they are optimistic about their own company's prospects.
The subprime-credit debacle caused the firms' profits to fall sharply in the fourth quarter.
In an surprise move, the Federal Reserve cut interest rates from 4.25% to 3.50%.
