Portfolio

Low rates are causing investors to cash out of short-term CDs when they mature; banks respond by adding ever more short-term CDs.

The Palo Alto, Calif., based company, which will now be called Wealthfront, said that it has attracted more than $100 million in assets to its investing platform in its first year of operation.

The previous year, assets declined 23%, Towers Watson says.

Now is the time for a balanced approach to both equities and fixed income, MFS advises.

Industry pulls in new money for the third consecutive quarter

Investors with at least $100,000 to invest are sorely in need of guidance on fixed income risk, asset allocation and retirement readiness, MFS Investment Management found in a survey of 613 investors.

Aviva Investors has launched the Aviva Investors Core Aggregate Fixed Income and the Aviva Investors High Yield Bond funds.

Matthews International Capital Management has launched an umbrella UCITS in Luxembourg comprised of three Asia-focused funds: Asia Dividend Fund, Pacific Tiger Fund and China Fund. It is the first time investors outside of the U.S. have had access to Matthews funds.

Acquisition broadens Genworth’s wealth management platform with alternative investments, including hedge funds.

Genworth Financial has agreed to pay $35 million, plus additional performance-based payments, to acquire alternative investments platform provider Altegris. The deal is expected to close at the end of the year.