The reductions are being made across all companies and departments among the firm’s 9,000 employees, said Chuck Freadhoff, spokesman for American Funds.
A pair of unrelated Boston-based hedge funds managing a total of more than $1.3 billion separately told investors today they're shutting down and returning investor cash because of recent disappointing performance.
As some insurers recently made stock and debt offerings in lieu of participating in the government’s Troubled Asset Relief Program, Moody’s Investors Service said that it will review the way these recapitalization options affect carriers’ ratings.
Pacific Investment Management Co. LLC today launched its first exchange traded fund and filed with the Securities and Exchange Commission to offer six more.
The number of U.S. homebuyers who agreed to purchase a previously occupied home in April posted the largest monthly jump in nearly eight years, a sign that sales are finally coming to life after a long and painful slump.
Long-term bond yields climbed sharply on today as improving sentiment on the economy sapped demand for government debt.
The Reserve Management Co. of New York has announced that the liquidation of the Reserve U.S. Treasury Fund (RUTXX) and distribution concluded May 29.
John Hancock Financial Services today released a variable annuity called the John Hancock AnnuityNote.
Private-equity firm Brookstone Partners today announced the launch of Brookstone Partners Asset Management, an independently operated investment advisory group.
Two bills that would transform the way insurance agents are licensed and regulated are likely to face a difficult time in the Senate, according to insurance industry officials.
Several economic gurus have seized on the recent rebound in equities to offer a generally upbeat view on a broader recovery, waxing poetic about the emergence of “green shoots” and their general feeling that a bottom in the U.S. economy may have been reached.
As retirement looms for baby boomers, financial advisers are finding additional uses for their clients' health savings accounts, including covering the cost of long term care insurance.
The expected reduction in front-end sales charges by large mutual fund companies may help stimulate sagging sales for Section 529 college savings plans.
DWS Investments is lowering sales charges and break points on some of its mutual funds, a move that could foreshadow industrywide price cutting to attract disillusioned investors, according to observers.
The Securities and Exchange Commission is considering a list of regulations for money market funds that goes far beyond proposed reforms issued in March by the Investment Company Institute.
Actively managed exchange traded funds are finally starting to trickle into the market.
As might have been expected, the extreme nature of the economic downturn continues to spawn ways for investors to navigate the financial markets.
Fund managers, urging financial advisers not to pull client assets out of underperforming funds, painted 2008 as an anomaly at the Morningstar Investment Conference 2009 in Chicago last week.
Long-term bond yields fell again on today as investors returned to the Treasury market for the second day running.
Federated Investors Inc. announced today that the firm has reached a definitive agreement to acquire $233 million in assets of two of Cincinnati-based Touchstone Investments’ mutual funds.
