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A new market emerges for Mother Nature
WASHINGTON — A new financial product will allow traders to bet on which way the wind blows. The Chicago Mercantile Exchange today began selling hurricane futures contracts and options on futures contracts.
India well positioned for surge in real estate
NEW YORK — Real estate investment trusts don’t exist in India, but investing in real estate there shows great potential, according to executives at Deloitte Touche Tohmatsu.
Watch out for falling BRICs, investors warned
NEW YORK — Emerging-markets investors may have done well for themselves during the past four years, but there are several reasons why they might want to exercise caution in the coming months, according to one portfolio manager.
Canadian seniors group calls for enforcement reform
OTTAWA — It isn’t that Canada doesn’t have securities laws; it has lots of them. But there seems to be a problem with enforcement.
U.S. markets bounce back
The U.S. markets had a much better Tuesday than they did last week.
Market slide may be blue chips’ green light
Expect a change in leadership within the stock market that will favor blue-chip stocks over riskier investments, several market experts say.
Environmentalists may gain clout in buyouts
NEW YORK — The impending private-equity buyout of Texas’ largest electricity producer may give rise to more deals in which environmental lobbyists are invited to sit at the negotiation table.
More investors are doing good in retirement
CHICAGO — Socially conscious and faith-based investing is gaining traction in the retirement plan arena.
Helping RIAs hand off to the next generation
A newfangled model for helping independent investment advisory firms transition ownership to the next generation of employees has attracted two of the industry’s more established financial planning businesses.
Waddell coy on prospects for a sale
Waddell & Reed Financial Inc., an asset management firm started by two World War I pilots, is winning its turnaround battle so far, but some observers say that the upshot ultimately will be to fix it or sell it.
Lifetime-guarantee annuities could end up biting insurers
Industry leaders are concerned that insurance companies are taking on too much risk from annuities that offer guaranteed-withdrawal benefits for the life of the client. Financial services leaders worry that if baby boomers live longer than projected or a downturn hits the market, the financial strength of insurance companies could be threatened.
Bill to push auto IRA enrollment
At least seven members of Congress, including the chairman of the Senate Finance Committee, are planning to reintroduce legislation that would require many small businesses not offering retirement plans to enroll their employees in individual retirement accounts automatically.
SEC cuts fees for trades and registration filings
WASHINGTON — As a result of rising securities trading volumes, the Securities and Exchange Commission is cutting the fees it charges for trades and registration filings by more than 50% for the remainder of the fiscal year that ends Sept. 30.
Citigroup, Blackstone launch $5 billion fund to invest in India
NEW YORK — Citigroup Inc. and Blackstone Group Holdings LP have launched a $5 billion fund to invest in India’s infrastructure — a positive development for a country that lags behind China in attracting foreign investment, one observer says.
DOL guidance may hurt independent providers
WASHINGTON — Department of Labor guidance allowing money managers to offer investment advice directly to 401(k) plan participants could squeeze the bottom lines of leading independent-advice providers Financial Engines Inc. and Morningstar Associates LLC, but it’s a big win for mutual fund companies.
New Hartford marketing campaign aims to sell retirement plans
NEW YORK — The Hartford (Conn.) Financial Services Group Inc. wants more financial advisers to sell retirement plans.
Early returns at Magellan, Janus Worldwide promising
BOSTON — Although it is too early to tell whether their winning streaks will continue, Fidelity Magellan Fund and Janus Worldwide Fund — two large mutual funds that have struggled to beat their benchmarks of late — are off to decent starts in 2007.
Wholesaling efforts are falling short, report says
NEW YORK — Asset management firms that employ wholesalers are not reaching their full sales potential and can do a lot more to form stronger relationships with financial advisers, according to a report released earlier this month by kasina LLC.
Advisers could be fall guys in a $317M ‘Ponzi scheme’
Financial intermediaries could be left holding the bag in the unraveling of what is being characterized as possibly the longest-running Ponzi scheme in U.S. history.
Brokerages slow to reveal sales pact details
Although many brokerage firms are letting investors in on whether they have “shelf space” agreements with certain mutual fund companies, few are disclosing the details of those agreements.
