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.
Nuveen Investments Inc. will acquire Winslow Capital Management Inc., an investment manager that specializes in managing large-cap-growth-stock portfolios for institutions and high-net-worth investors.
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.
Disclosures for managed-payout mutual funds — launched in the last year to help retirees manage income — must make it clear that unlike annuities, such funds do not guarantee income.
As representatives from the American auto industry plead for a multibillion-dollar federal bailout, some financial advisers are already bracing for worst-case scenarios that could leave thousands of autoworkers, retirees and those working in related industries scrambling to fill retirement and health care funding gaps.
Fidelity Investments' decision last week to replace the head of its adviser unit with an executive from Morgan Stanley is another sign that the former is serious about recruiting more breakaway brokers.
Mutual funds fees will be going up next year, with market turmoil likely to be the main culprit.
In the current economic maelstrom, exchange traded funds are beating mutual funds in the fight for investor dollars — a battle that will have long-term implications for the asset management industry.
Roger W. Crandall, co-COO, executive vice president and chief investment officer, will take on the role of president, presently held by chairman and chief executive Stuart H. Reese.
MetLife Inc. of New York said that State Street Global Advisors in Boston will subadvise a pair of exchange-traded-fund-focused asset allocation portfolios for the carrier’s variable annuities.
The global economic meltdown has walked back the hedge fund industry to where it was at the end of 2006, according to the latest data from Hedge Fund Research Inc. in Chicago.
Reserve Management Co. Inc. has announced that its U.S. Government Fund is now covered by Treasury’s temporary guarantee program for money market funds.
The PowerShares Active U.S. Real Estate Fund (PSR) seeks to provide high total return by investing in publicly traded U.S. real estate companies, selected using a proprietary stock selection model.
The exposure was in four transactions: two collateralized-debt-obligation squared transactions and two high-grade CDOs of asset backed securities.
This week, three more insurers announced their intentions to apply for to the Department of the Treasury’s Capital Purchase Program.
T. Rowe Price Group Inc. of Baltimore has launched two funds aimed at providing investors with exposure to the markets in Europe, Asia and the Americas.
Building-permit authorizations in October fell 12% from September to 708,000 —the biggest drop in 26 years, according to the Department of Commerce.
The Municipal Securities Rulemaking Board has submitted a plan for approval by the SEC today to collect and disseminate critical market information about auction rate bonds and other variable-rate municipal securities.
Index annuity sales crept up during the third quarter, hitting $6.7 billion, according to data from AnnuitySpecs.com of Pleasant Hill, Iowa.
Homebuilder sentiment in November sank its lowest level since January 1985, as shaken builders seek assistance from a higher power.
