Net outflows were down 63% across the mutual fund industry in November, but most money managers still bled billions in assets, according to research released last week by Morningstar Inc.
Chief executive John Mack sounds the retreat from Morgan Stanley's swashbuckling days after the firm ost $2.34 per share for the quarter ended Nov. 30.
Axa SA of Paris, Massachusetts Mutual Life Insurance Co. of Springfield and Swiss Reinsurance Co., as well as other all-star companies, have also been exposed to Mr. Madoff’s alleged $50 billion Ponzi scheme.
Real estate valuations are expected to fall next year, with the low point in the cycle expected in 2010, according to LaSalle Investment Management’s Investment Strategy Annual, a comprehensive survey of global real estate markets.
The consumer price index, which measures the cost of living, fell by a record 1.7% in November, as gasoline and other energy prices plunged, according to a Department of Labor report.
While finding an appropriate independent property worth $1 million may be difficult, there are always opportunities available to invest in a larger property as a tenant-in-common to defer capital gains tax.
A select group of mutual funds that can invest beyond stocks, bonds and cash are being heralded as the next great innovation, but some industry observers question whether the funds are merely repackaging an existing concept.
Those regs, slated to go into effect Jan. 1, require that retirement plans run by non-profit groups must have new plan document rules in place.
