Funds of hedge funds took it on the chin in 2008 — right along with the overall hedge fund industry, according to a survey released today.
TD Ameritrade Holding Corp. will continue waiving fees on many money market funds for the rest of its fiscal year to ensure that clients who sweep cash into the funds don’t lose their principal, the company’s chief financial officer said today.
The Securities and Exchange Commission may soon take action against the broker-dealer subsidiary of The Reserve, the New York-based firm whose flagship $62 billion money market fund "broke the buck" in September.
Mutual fund liquidations this year are already nearly double what they were by this time in 2008.
The median sales price of single-family homes tumbled 3.5% in January, from December, and 18.9% from a year ago, according to Integrated Asset Services LLC in Denver.
Warning that economy will remain in dismal shape for “a while,” Blackstone Group Chief Executive Stephen Schwarzman urged people against buying real estate—even at seemingly depressed prices.
A sharp disconnect still exists between homeowners and sellers over the real value of home prices, according to the latest survey by HomeGain.com Inc.
When the equity markets began their dramatic slide in the second half of last year, advisers and their clients researched the investment offerings of Los Angeles-based American Funds more than any other mutual fund group.
In what might come as a surprise to the organization's members, the head of the mutual fund industry's biggest trade group last week said that he supports the idea of requiring all financial advisers to act as fiduciaries.
House Financial Services Committee Chairman Barney Frank called yesterday for creating an optional federal charter for life insurance companies.
Insurers’ delay in paying out claims was the most common complaint from consumers last year, according to the National Association of Insurance Commissioners.
The Phoenix Cos. Inc. said that it overstated its 2008 losses by $46 million as a result of an error in accounting for income taxes.
Sales of fixed annuities climbed to $107 billion last year, up 60% from 2007, according to the Beacon Research Fixed Annuity Premium Study.
Aviva PLC, Europe’s biggest provider of life insurance products, posted a loss of $995 million for 2008, down from a profit of $2.98 billion in 2007.
Fidelity Investments filed yesterday with the SEC to launch a series of target date funds that will be available to certain 401(k) plan customers at below retail cost.
Two major forces are behind the dramatic growth in popularity of exchange traded funds: the wide-spread adoption of fee-based advice and the prolonged 10-year bear market’s effect of destroying the “mutual fund manager” myth.
Legg Mason Inc. said Thursday it will record a $610 million charge to reflect elimination of exposure to risky structured investment vehicles in its money market accounts.
Insurer Old Mutual PLC reported Wednesday a 30 percent drop in 2008 profits as its U.S. Life unit made a large loss, hurt by the collapse of financial institutions such as Lehman Brothers and Freddie Mac and Fannie Mae.
The Obama administration is kicking off a new program designed to help up to 9 million borrowers stay in their homes through refinanced mortgages or loans that are modified to lower monthly payments.
