New York Life Insurance Co. has tapped Jon Stenberg to join the company as a senior vice president in the individual-life department.
Investors put more than $75 billion into mutual funds in May, as stock, bond and money market funds reported positive inflows.
Target date funds are benefiting from the requirement that 401(k) plans include qualified default investment alternatives.
The deal would transform Apria Healthcare into a private company wholly owned by Blackstone and its affiliates.
The policy, the Lifetime FlexPlus II, features premiums that are 3% to 5% lower than those of the original version.
The Lance Group specializes in school boards and municipalities and handles benefit plan analysis as well as design.
Pennsylvania Life Insurance has agreed to a $925,000 settlement following allegations of unsuitable annuity sales in Wisconsin.
The firm's Micro Cap Value Fund and International Opportunities Fund will close to new retail investors June 30.
The company invests in mortgage-backed securities that are backed by government-sponsored agencies.
The ETNs are designed to track the short and leveraged performance of base metals and oil.
Martin J. Sullivan, CEO of American International Group, has been ousted from the New York-based insurer.
“Invest as I say, not as I do,” is the philosophy of many fund managers, according to a study by Morningstar.
Infrastructure investing is the new name of the game for the Phoenix Global Utilities Fund (PGUAX), which will become the Phoenix Global Infrastructure Fund, effective Aug. 18.
Performance fees appear to deliver what they promise, at least by a little, according to a study by New York-based research firm Lipper Inc.
Net assets in variable annuities have also risen, reaching $1.39 trillion, compared to $1.38 trillion in the first quarter of 2007.
Supporters of simplified disclosures for variable annuities may get a boost from a proposal that state insurance regulators will soon consider.
Two former hedge fund managers at the soon-to-be-defunct Bear Stearns may soon be indicted.
In a move to bolster its battered image, long-suffering Putnam Investments last week said that it is hiring industry veteran and former Fidelity Investments executive Robert L. Reynolds as its president and chief executive, effective July 1.
Ameriprise Financial Inc. hopes its new Threadneedle Funds brand will appeal to third-party financial intermediaries.
The debate about high mutual fund commissions and conflicts at the point of sale should be put to bed because sales of funds with high upfront commissions are a small part of overall sales, according to a recently released report.
