Portfolio

Martin Capital Management, LLC, has launched the Martin Focused Value Fund, which will bet undervalued shares of publicly traded U.S. companies.

Although they can’t see customers’ held-away investments, three quarters of financial advisors give advice about these assets anyway.

Ever since the merger between alternative investment shop Ramius and investment bank Cowen Group in November 2009, the two firms have been looking at ways to integrate and grow Ramius' hedge funds, fund of funds, real estate and cash management businesses.

The Dow Jones Industrial Average shed 77.42 points to close at 12,496.38 Wednesday while the Nasdaq and S&P 500 lopped off 24.46 points and 9.30 points, respectively.

On June 13, 2012, MainStay Investments, a New York Life company, added the MainStay New York Tax Free Opportunities Fund, the firm's first state-specific municipal bond strategy, to its portfolio.

May was a lousy month for investors, especially for those holding these 10 particularly hard-hit S&P 500 stocks. Also See: May Flowers: 10 Best-Performing S&P 500 Stocks

Mutual Funds Lose $1.37 Billion Week Ending June 6, 2012. Stock Funds Lose $3.08 Billion.

On June 13, 2012, New York-based Advent Capital Management, an investment advisor specializing in convertible, high yield and equity strategies offered through long only, hedge fund and NYSE closed-end mutual fund products, has hired Osbert Hood, chief executive officer at Pioneer Investments USA’s, as its chief operating officer.

For the week ended June 6, investors withdrew an estimated $1.37 billion from long-term mutual funds of all types, the third largest outflow this year.

On June 13, 2012, Hartford, Conn.-based multi-manager shop Virtus Investment Partners, Inc. revealed that it has filed with the Securities and Exchange Commission for five new open-end mutual funds.