The country is facing at least two more years of tough economic times, with no significant rebound for three-to-five years, said George Fisher, a senior adviser at New York private-equity firm Kohlberg Kravis Roberts & Co.
The Atlanta-based global investment manager recorded net income of $31.9 million, an 82% drop from the $175.9 million it reported in the year-earlier period — and down from $131.8 million in the third quarter of 2008.
Consumer confidence improved slightly over the last month, but is still near its lowest levels in decades, according to the Reuters/University of Michigan Index of Consumer Sentiment report, released this morning.
The 529 college savings plan industry’s two advocacy organizations are taking steps to work more closely on 529 legislative issues in Washington.
The 529 college savings plan industry will face “a period of challenge” in Washington this year, according to veteran industry consultant James Delaplane, an attorney based in the capitol.
T. Rowe Price has unveiled a web portal with tools that advisers and other firms can use to evaluate the asset manager’s mutual funds.
The troubles that hit variable annuity insurers last year will follow them into this year, further denting their financial strength, according to a report from Standard and Poor’s in New York.
“Congress should grant the SEC explicit statutory authority to regulate hedge fund advisers as investment advisers,” Colorado securities commissioner Fred Joseph said at a press conference in Washington held by the North American Securities Administrators Association Inc.
Invesco PowerShares Capital Management LLC has filed registration statements for two actively managed exchange traded funds focused on the non-agency prime and Alt-A residential-mortgage-backed securities markets.
T. Rowe Price Group Inc. posted an 87% fourth-quarter profit drop today, as the money manager was hammered by impairment charges, fund outflows and a steep drop in assets under management.
