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Hedge funds beating many indexes
The Greenwich Global Hedge Fund Index rose 0.98% in March, bringing year-to-date returns to 2.82%, according to a preliminary report released today by Greenwich Alternative Investments LLC.
Investment club unveils index
Nasdaq Stock Market Inc. has teamed with BetterInvesting, a nonprofit investment education organization, to launch the BetterInvesting 100 Index, a listing of the top growth companies that the group's 13,127 investment clubs and 131,556 individual members hold.
ICE to inaugurate New York trading floor
IntercontinentalExchange Inc. will open a trading center in New York's World Financial Center on April 12 to serve qualified professional traders.
Scaturro’s exit from U.S. Trust leaves B of A holding the bag
Peter Scaturro’s impending departure as chief executive of U.S. Trust has left Bank of America Corp., the venerable wealth manager’s prospective new owner, with a big mess on its hands.
Ontario won’t put its stamp on passport system
OTTAWA — The gambit by the Canadian Securities Administrators to get Ontario involved in a new, improved passport system of regulation led to a stalemate when the Ontario Securities Commission said: Nothing doing.
Changes in 401(k) world may open the door for ETFs
NEW YORK — Although exchange traded funds are growing at a torrid rate, with a new offering almost daily, one area where ETF growth has been slow is in retirement accounts.
Lydian Trust sharpens its focus in Florida
SAN FRANCISCO — In selling one of its subsidiaries to a California bank, Lydian Trust Co. is preparing to bolster its presence on its home turf.
Advisers use risk management to ride out market turbulence
The stock market has remained unsettled since the big plunge of Feb. 27, but many financial advisers report few worries, attributing their well-being to the risk management inoculation they have given their client portfolios.
Potential axing of 12(b)-1 fees worries advisers
Industry participants were unhappy to learn that repeal will be an option as the Securities and Exchange Commission takes a hard look at the 12(b)-1 rule, which allows mutual funds to generate billions of dollars in fees.
Structured-products industry takes case directly to consumers
The structured-products industry is taking its message directly to consumers with coordinated marketing and educational efforts designed to demystify the often-complex, intermediary-sold alternative investments.
Wealth pros warming to passive
Passive investing is gaining favor among wealth managers, according to bankers, vendors and industry consultants.
SRO merger suit: The battle begins
A federal judge last week ordered NASD and the New York Stock Exchange to supply an initial batch of documents to a broker-dealer that sued to stop the proposed merger of the organizations’ regulatory units.
No longer the domain of hippies, green investing goes mainstream
The profile of “green’’ investors has changed. They aren’t just mature demonstrators of the 1960s with extra cash in their accounts.
Volatility investors benefit from February market fall
WASHINGTON — Those who bet that the U.S. stock market’s fairly steady climb since last summer was too good to last were winners last month.
CFP Board proposal could meet resistance
Initial reactions to the proposed changes to the ethical standards for certified financial planners have been favorable, but the other shoe could drop this week.
Investors call for government to take on climate change
NEW YORK — Clean energy is increasingly gaining the attention of institutional investors. Last Monday, dozens of top investors managing a total of $4 trillion in assets asked Congress, the Securities and Exchange Commission and the White House to approve stronger climate control policies.
Torrid Canadian M&A scene bolstered by budget
OTTAWA — The federal budget unveiled last week allows the Canadian government to remove withholding tax on arm’s-length interest payments under the Canada-U.S. Tax Treaty and with other countries.
NFP to continue acquisition strategy
NEW YORK — National Financial Partners Corp. will continue to pour money into acquisitions this year. At a recent conference for analysts and investors, company officials disclosed that they have earmarked $20 million to spend on acquisitions this year, a $5 million increase over 2006’s allocation.
ING Advisors Network reshuffles management
NEW YORK — ING Advisors Network Inc. has reshuffled key spots in its top management ranks, with its president, Valerie Brown, leaving to become executive vice president of wealth management and annuities for ING U.S. Financial Services.
Market fears may lure investors to money funds
Stock market volatility and worries that more bad news from the housing sector could threaten the U.S. economy’s prospects for a soft landing are likely to make 2007 “a dynamite year” for money fund inflows, a well-known money fund expert said last week.
