Portfolio

With so much money in motion as people change jobs, qualified-account conversions are the quick ticket for advisors looking to grow assets fast.

NEW YORK-Many investment firms dealing in complex asset-backed securities did not have sufficient computing capacity to figure out the risks they were taking, as the global financial crisis unfolded, said the managing director and chief technology architect of Bank of America Merrill Lynch Monday.

Fewer hedge funds closed their doors in the second quarter, but there were also fewer hedge fund launches, as investors continued to shun startups and smaller firms in favor of large, established players.

A wealth management firm has identified a growing niche serving clients in the United States and north of the border.

The sell-off in municipal bonds finally appeared to sap some retail demand for state and local government debt last week as muni mutual funds reported taking in the paltriest amount of new money in six weeks.Municipal bond mutual funds that report their figures weekly posted a net inflow of $638.2 million during the week ended Sept. 15, according to Lipper FMI, the lightest inflow since early August.

PIMCO co-Chief Investment Officer Bill Gross is said to be planning to one-up himself on touting Canadian companies as good fixed income opportunities; he is planning a big expansion into Canada.

David Corkins, a star manager at Janus who sucessfully ran the Janus Mercury and Janus Growth & Income funds and executed an impressive turnaround on the flagship $12 billion Janus Fund, started hedge fund Arrowpoint Partners in 2009 - delivering returns of 33%.

Fund managers may soon be faced to make a tough choice if they want to reduce operating risk and cost.

Life used to be so simple.

She was hired by GAMCO in December 2005 with 20 years experience in mutual fund treasury operations with various fund companies. In May 2009, she was promoted to senior vice president.