Portfolio

Pacific Investment Management Co., which manages the world's biggest bond fund, predicted the global economy will slow next year.

Neuberger Berman Group has launched the Neuberger Berman Risk Balanced Commodity Strategy Fund (NRBAX, NRBCX, NRBIX), an active, diversified commodity investment strategy that includes exposure across 25-30 commodities across six industry sectors.

Fund administrator Gemini Fund Services has new leadership in place, new headquarters in New York, and is making strides in the alternative mutual fund and exchange-traded fund arenas.

By the end of last year, assets under management in global alternative investments hit $6.5 trillion, having grown seven times faster than traditional asset classes over the previous five years. This is according to a new McKinsey & Company study that predicts this growth represents only the beginning of a new wave of assets moving into alternatives.

Investment data provider MoneyMate has hired Jason Schwarz as senior vice president of North American Sales, responsible for expanding upon the existing client base within North America.

U.S. exchange-traded fund assets totaled $1.2 trillion as of August 31 - up 16.6% year-to-date, according to State Street Global Advisors' ETF Snapshot.

Tax-exempts ended Tuesday weaker, following Treasuries, as market participants said trading activity continued to remain slow this week.

Theresa Hamacher was named to her current position as president of NICSA (the National Investment Company Service Association) in March 2008.

The Dow Jones Industrial Average rallied up another 69.07 points Tuesday to close at 13,323.36 - its highest level since December 2007. The Nasdaq inched up 0.51 points to finish at 3,104.53 while the S&P 500 added 4.48 points to finish at 1,433.56.

State Street Global Advisors has appointed Greg Ehret to a newly created position as global chief operating officer.