Universal life insurance captured a 40% share of the overall life insurance market for the first time last year and is expected to continue its strong showing, industry experts say.
The mutual fund industry’s powerful trade group is stepping up its support of financial advisers.
BOSTON — Sen. Barack Obama took in at least $49,185 from employees of the 20-largest U.S. mutual fund groups and related companies in the first quarter, more than any other 2008 presidential candidate.
BOSTON — Nearly three and a half years after PBHG Funds’ founders were charged with fraud, checks have started going out to mutual fund investors wronged by the alleged trading abuses at their former firm.
PHILADELPHIA — It is a message he has delivered many times before, but industry experts said John C. Bogle’s continued assertion that bond funds on average are too expensive deserves special attention in the current market.
The Hartford Financial Services Group Inc. announced today that earnings rose 20% in the first quarter to $876 million, from $728 million for the same period a year earlier.
State Street Global Advisors of Boston today announced the launch of two new international exchange traded funds: the SPDR S&P International Small Cap ETF and the SPDR S&P World-ex-US ETF.
Pershing LLC, a subsidiary of The Bank of New York Company, Inc., has added Schroders PLC to FundVest, Pershing’s no-transaction-fee mutual fund platform.
Claymore Securities Inc. of Lisle, Ill., today announced the launch of two new exchange traded funds: the Claymore/Clear Mid-Cap Growth Index ETF, and the Claymore/IndexIQ Small-Cap Value ETF.
The number of federal securities litigation class actions hit a record low of 106 cases last year compared to 169 in 2005, although settlement values remained high, according to a PricewaterhouseCoopers study released today.
A group of banks led by the Royal Bank of Scotland today offered over $98 billion for ABN Amro, trumping the $90 billion offer by London-based Barclays PLC announced earlier in the week, according to published reports.
Mutual fund company Waddell & Reed Financial Inc. today reported that its first-quarter net income rose 16.7% and that assets under management reached $50 billion for the first time.
Merrill Lynch & Co. Inc. today announced that it will buy a nearly $3 billion stake in Resona Holdings Inc., Japan's fourth-largest bank, according to published reports.
Aflac Inc.’s net income increased 10.9% in the first quarter, despite lagging sales in Japan, the Columbus, Ga.-based insurance company reported.
UBS AG today launched a global warming index based on weather futures for 15 U.S. cities that is being traded on the Chicago Mercantile Exchange.
The money made last year by top hedge fund managers is putting traditional Wall Street pay packages to shame, according to a report in Alpha magazine.
NEW YORK — North Dakota last week became the first state to adopt a more stringent statute regulating life settlements, with special emphasis on stranger-originated life insurance.
PowerShares Capital Management LLC said its assets recently have surpassed the $10 billion mark, up from $8.5 million at the close of 2006.
Federated Investors Inc., a Pittsburgh-based money manager, today said it has agreed to acquire certain assets of Rochdale Investment Management LLC tied to the $321 million Rochdale Atlas Portfolio, a mutual fund investing in international stocks.
WisdomTree Investments Inc. of New York announced today that Independence Blue Cross of Philadelphia, through its subsidiary QCC Insurance Co., has allocated $25 million to WisdomTree’s High Yielding Equity Index.
