Jackson National Life Insurance Co. of Lansing, Mich., today launched its new corporate <a href=http://www.jackson.com>website</a>, which includes new tools for advisers and registered representatives.
Genworth Financial Inc. kicked off the new year by firing approximately 1,000 of its 7,300 employees worldwide in an attempt to cut the insurer’s spending.
The new year promises to be a tough one for the U.S. life and health insurance sectors, according to an industry report card released today by Standard and Poor’s Ratings Services.
Last year was among the worst ever in the history of hedge funds, with $210 billion in losses during the third quarter alone, 693 funds closed through Sept. 30 and an average 16% decline through November.
Financial advisers will likely be drawn to the allure of exchange traded funds in 2009, thanks to an anticipated rise in open-end mutual fund expenses, according to industry experts.
Historically low interest rates, coupled with a torrent of new cash from investors, are forcing many mutual fund companies to close the doors on their Treasury money market funds.
Although most funds performed dismally last year, a Vanguard fund and its exchange traded fund share class bucked the trend with spectacular results, returning more than 50%.
Wash sale rules prohibit an investor from recognizing a loss for tax purposes if securities are sold and "substantially identical" securities are purchased within 31 days.
Britain’s FSA has fined international reinsurance giant Aon 5.25 million pounds ($7.9 million) for failing to maintain effective anti-bribery systems.
Union Bancaire Privée is threatening to pull billions of dollars of assets from some of the largest U.S. hedge funds, according to a spokesman for the Geneva bank.
Hedge funds suffered another body blow in December when, according to one index, the S&P 500 stock index outperformed the alternative class strategies.
American Century Investments expects to open an office in Hong Kong in the next few months.
Real estate investment trusts wrapped up 2008 with negative returns, including dividends, of 37.3% on average.
Mutual funds and discretionary assets that comply with Shariah, or Islamic law, fell to $65 billion at the end of the third quarter.
SIFMA has hired Leon J. Bijou as managing director and associate general counsel in a bid to expand its municipal bond expertise.
