Portfolio

Exchange-traded funds are likely to grab a “significant” share of the 401(k) market in coming years, according to Skip Schweiss, president of TD Ameritrade Trust Co.

Exchange-traded funds are likely to grab a “significant” share of the 401(k) market in coming years, according to Skip Schweiss, president of TD Ameritrade Trust Co.

Morgan Stanley’s global wealth management business net revenue rose to $3.4 billion for the first quarter, while its total advisor ranks dipped to 17,800 in line with previously reported plans for cuts.The wealth management business’ net revenue was up from $3.1 billion from the previous year due to higher commissions and asset-based revenue. The group had pre-tax income of $348 million compared with $278 million for the first quarter of 2010.

T. Rowe Price reported Thursday that quarterly earnings surged, but missed analysts’ lofty expectations.The Baltimore-based fund company reported a 27% increased in profits from a year earlier to $194.6 million, or 72 cents a share as net revenue rose 23% to $682.4 million.

Aided by a strong tailwind from market appreciation, Janus Capital Group reported an increase in profits in the first quarter as assets under management and revenue rose.The Denver mutual fund company’s earnings increased 21% to $37.9 million, or 21 cents per share, from a year earlier. Revenue was up 7.5% to $265.4 million.

The Conference Board Leading Economic Index rose 0.4% in March to 114.1 (2004 = 100), following a 1.0% rise in February and a 0.2% gain in January. This puts the index at an all-time high, The Conference Board

After weathering a dismal 2008, a disastrous 2009 and a decent 2010, things are definitely looking up for hedge funds this year thanks to improving economic conditions around the world and an influx of new capital from institutional investors, pension funds and sovereign wealth funds.

Schwab announced that since it launched Schwab Advisor University in June, over 5,600 RIA employees from more than 2,500 firms participated in its online courses to help improve firm operations.

BlackRock said it earned 35% more in this year’s first quarter, than last, helped by a “robust” pipeline of assignments for its software and technology services business.

Aided by a strong tailwind from market appreciation, Janus Capital Group reported an increase in profits in the first quarter as assets under management and revenue rose.