The Office of Management and Budget has cleared a Department of Labor rule that will allow financial advisers affiliated with mutual funds and brokerage firms to provide direct investment advice to 401(k) plan participants.
Genworth Financial Inc.’s long term care insurance business has teamed with the National LTC Network Inc. in a marketing relationship aimed at selling the insurer’s products and services.
Nomura Asset Management Co. Ltd. of Tokyo today announced the launch of Nomura Partners Funds Inc., a group of mutual funds with an Asian and global focus.
Retail sales fell 2.7% in December from November as a growing number of shoppers stayed on the sidelines during the holiday shopping season, according to the Department of Commerce.
John Lovito and Federico Garcia Zamora recently joined the firm as co-portfolio managers for the $1.7 billion American Century International Bond Fund, the Kansas City, Mo.-based American Century said today.
The moves reflect Mr. Obama’s desire to have the money available shortly after he takes office Jan. 20, Tommy Vietor, spokesman for the office of the President-elect, said in an interview yesterday.
Just when we thought we had heard all the bad financial news there was, a new major money scandal is being played out. Everyone wants to know what happened to the Bernie Madoff money.
Putnam Investments of Boston today announced that it has launched four target absolute-return mutual funds designed to seek annualized total returns of 1%, 3%, 5% or 7% above those of U.S. Treasuries over a period of three years or more.
House Democrats intend to give President-elect Barack Obama $1 trillion to deploy for economic recovery programs as early as the middle of February, said Financial Services Committee chairman Barney Frank, D-Mass.
Foreign investors plan to spend significantly more money on U.S. real estate in 2009 than they did last year.
