Company says legal tab in 2009 equaled 12% of revenue; crashed bond funds to blame
New York Life Insurance Co.'s life insurance sales broke records over the first nine months of 2009, the insurer reported today.
Total money market mutual fund assets fell by $3.68 billion to $3.335 trillion for the week, the Investment Company Institute said Thursday.
The John Hancock Financial Network has released a succession-planning platform for its financial representatives.
Life insurers are still strong in the wake of the financial crisis, insurance experts said yesterday at a life settlement industry conference.
Measures that would significantly boost funding for the Securities and Exchange Commission as well as give shareholders a say on executive pay are included in draft financial overhaul legislation in the Senate, a person familiar with the matter said Monday.
New York Life Insurance Co. has revamped its sales team to make it easier for its wholesalers to sell an array of products to advisers — including annuities, mutual funds and guaranteed income products.
Lee Scott, former Wal-Mart Stores Inc. CEO and president, has joined the private equity firm Solamere Capital as an operating partner and a member of its investment committee.
The fund managers who invest based on macroeconomic trends — and are willing to adjust their portfolios as those trends change — are the managers most likely to add value for investors, according to a study released today by the New York University Stern School of Business.
A key state insurance figure has called upon the life settlements industry to keep Main Street policyholders in mind — or else.
Money managers are adding more arrows to their emerging-markets quiver as they anticipate institutional investor demand for such strategies to escalate.
Pension fund executives around the world are putting their faith — and assets — into emerging markets to provide more investment bang for the buck.
Last year's $226 billion worth of net outflows from mutual funds reflects a larger trend in investor behavior, according to a new research report.
Several financial advisers said that they agree with the Supreme Court justices who appeared to suggest during oral arguments last week that the Securities and Exchange Commission, and not the courts, should ultimately decide when mutual fund fees are excessive.
Although CIT Group Inc.'s impending Chapter 11 bankruptcy is unlikely to halt the renewed popularity of financial sector stocks, advisers remain leery of investing in banks and other lenders.
With Congress advancing its controversial 1,900-page health care reform legislation, Wall Street has pushed health care sector stocks into value territory, according to Tyler Dann, co-manager of the $4.8 billion Aim Charter Fund (CHTRX).
A focus on market volatility has become a driving force behind the Direxion/Wilshire Dynamic Fund (DXDWX), according to portfolio manager Cleo Chang.
After a series of ratings downgrades this year halted sales of its life insurance and annuity products by major outside distributors, The Phoenix Cos. Inc. has created a distribution company of its own, Saybrus Partners Inc., and has struck a consulting agreement with Edward D. Jones & Co. LP.
