The Investment Company Institute filed a brief yesterday urging the U.S. Supreme Court to endorse the longtime Gartenberg standard for evaluating claims that a mutual fund's investment advisers have received excessive compensation.
Two major financial services firms — an investment banking company and a an insurer — have revealed their intentions to get into the exchange-traded fund business.
A South Shore, Ky.-based insurance agent this week was sentenced to five years in prison and ordered to pay almost $400,000 in fines for swindling clients in a Ponzi scheme that involved annuities.
Industry watchers are skeptical of plans by DWS Investments to launch a money market fund that does not seek to maintain a stable share price of $1.
Rydex SGI has taken its alternative investment message to a new medium with the launch of a new website, <a hef=http://www.GetAlts.com>GetAlts.com</a>.
Regulators are imposing new restrictions on leveraged exchange-traded funds, volatile investments that can multiply the gains or losses of a market index or benchmark.
Treasury prices mostly extended their gains yesterday as investors sought the safety of government debt amid a big sell-off in stocks.
Insurers Argus Group Holdings Ltd. and Tremont International Insurance Ltd. have reached a partial settlement in a lawsuit filed by variable-annuity and variable-universal-life customers who lost money in Bernard Madoff's $65 billion Ponzi scheme, according to court documents.
A growing trend toward the use of more outside investment products by trust banks could present a broader distribution opportunity for the mutual fund industry, according to the latest research from Cerulli & Associates Inc.
Two John Hancock Life Insurance affiliates have received regulatory approval in Massachusetts to merge into another company entity.
Insurance companies said yesterday it was too soon to determine how much they would have to pay for claims from wildfires that have already burned more than 80 homes in California and threatened thousands more.
The Hartford Mutual Funds today reopened the $185.2 million Hartford MidCap Value Fund (HMVAX) to new investors in an effort to capitalize on new investment opportunities and offset outflows.
Total sales of life insurance plummeted during the second quarter, falling 20% from a year earlier, according to a report from LIMRA International.
Shares of MetLife Inc. slipped today after a Raymond James analyst downgraded the insurer, citing the company's overvalued stock price.
Overall sales of fixed annuities hit $27.8 billion during the second quarter, up 10% from a year earlier but down 20% from the first quarter this year, according to data from Beacon Research Publications Inc.
Third Avenue Management LLC of New York today launched a mutual fund that is able to invest in a mix of credits, including bank loans, and high-yield and distressed debt.
Another $30 billion in three-month bills were auctioned at a discount rate of 0.150 percent, down from 0.165 percent last week. That rate was the lowest since 0.135 percent on April 30.
Shares of KKR Financial Holdings LLC rose today after Janney Montgomery Scott Securities analysts upgraded the real estate investment trust to "Market Outperform" from "Market Perform," saying the company's management has improved liquidity and it may restore its dividend soon.
The Missouri insurance department has sued Central United Life Insurance Co. for allegedly dodging claims from clients with cancer.
Squeezed by rising bank failures and alarmed by its shrinking insurance fund, the Federal Deposit Insurance Corp. has made it easier for private-equity investors to buy failed institutions, but one prominent analyst believes that the move could lead to even more shuttered banks.
