Shares of The Hartford Financial Services Group Inc. jumped this morning on news that the company has raised its earnings guidance for the end of the year.
Fortress Investment Group LLC has suspended redemptions from its largest hedge fund and three of its feeder funds., according to a filing with the Securities and Exchange Commission.
After a three-year run in the mutual funds sector, Utopia Funds in Traverse City, Mich. is throwing in the towel by liquidating all four of its funds as of Dec. 22.
To offset numerous redemptions this year, Fidelity Investments announced yesterday it will be reopening two of its mutual funds to new investors and accounts, starting Dec. 16.
Jefferson National Life Insurance Co. today added the Rydex Variable Trust Managed Futures Strategy Fund to its Monument Advisor variable annuity.
Legg Mason Inc. will take new charges to provide support for its struggling money market funds, a move that will force the company to take a loss in the fourth quarter.
AIG is in need of a federal government guaranty to meet counterparty collateral requirements, its former CEO Maurice Greenberg, said today.
Genstar Capital LLC, a San Francisco-based private-equity firm, yesterday agreed to buy Long Term Care Group Inc., an outsourced services administrator.
Fixed annuity sales in the United States hit $27.1 billion in the third quarter, up by 54% from the third quarter of 2007, according to data from Beacon Research of Evanston, Ill.
The manufacturing sector headed downward in November as the economy continued to weaken under the weight of the financial crisis, according to a report by the Institute for Supply Management in Tempe, Ariz.
While variable annuity performance has plunged this fall, the hedging programs designed to protect the products have helped carriers save $40 billion during September and October, according to a study from Milliman Inc.
Many plan sponsors aren't focused on the investment strategies behind target date funds, creating an opportunity for financial advisers to play a greater role in the retirement-planning process, according to a survey by JPMorgan Asset Management Inc. of New York.
Actively managed exchange traded funds, which were introduced this year, haven't caught fire, but that didn't stop Invesco PowerShares Capital Management LLC from launching its fifth such ETF last month.
October sales of new homes fell an estimated 5.3% to their lowest level in 17 years, the Department of Commerce reported today.
The New York-based accounting firm yesterday paid the settlement in connection with its auditing service for Philadelphia-based Reliance Insurance Co., a carrier that’s now in liquidation.
The Vanguard Group has added Frontier Capital Management and Kalmar Investment Advisers to manage its Vanguard Morgan Growth Fund. The two replace Franklin Portfolio Associates in managing about 20% of the $6.4 billion fund.
They are the first ETFs in the United States to provide short exposure or leveraged exposure to commodities or to the euro and the yen, according to a statement from ProFunds.
Ameritas Life Insurance Co. of Lincoln, Neb., will offer a new version of its new variable universal life policy Jan. 1 as the company tries to conform to new mortality tables.
Sales of existing homes fell 3.1% in October to a 4.98-million-unit annual rate, as the stock market downfall and the weakening economy caused homebuyers to stay on the sidelines, according to the National Association of Realtors.
