Attempts to avoid the largest municipal-bond default in U.S. history were dealt a blow this month when two Wall Street banks ended swap agreements with Jefferson County, Ala.
A fourth-quarter tumble in long term care insurance sales brought down full- year 2008 results for the product, according to data from LIMRA International Inc.
Fidelity Investments of Boston today launched three funds, including the firm’s first convertible-securities fund.
Three former investment managers in Boston are planning to launch a hedge fund in April, according to a report published by FINalternatives, a news service of Stone Street Media LLC.
The National Association of Insurance Commissioners has released a list of carriers that have applied for a special accounting treatment aimed at helping them raise capital and surplus.
Mutual fund liquidations this year are already nearly double what they were by this time in 2008.
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.
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.
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.
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.
Insurers’ delay in paying out claims was the most common complaint from consumers last year, according to the National Association of Insurance Commissioners.
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.
