Portfolio

Citigroup has hired Sanjiv Sawhney as global head of fund services, a new position. He was previously head of fund services operations at JP Morgan and is returning to Citi, where he began his career and served for 15 years.

Financial advisors are looking forward to 2010. In fact, 68% of advisers recently surveyed define their 2010 business mindset as one of acceleration and growth.

Inflows and performance take funds to pre-crisis levels.

Citigroup has hired Sanjiv Sawhney as global head of fund services, a new position. He was previously head of fund services operations at JP Morgan and is returning to Citi, where he began his career and served for 15 years.

Being owned by a bank has handcuffed many mutual fund units. Just don’t tell that to JPMorgan Chase & Co.’s J.P. Morgan Funds.

Natixis Global Associates, in conjunction with Absolute Asia Asset Management, has launched the Absolute Asia Dynamic Equity Fund, a multi-cap fund that will invest in Asian companies, ex-Japan. It is the first fund offered in the United States by the Singapore-based Absolute Asia management team, which has been headquartered in the region for more than a decade.

Delaware Investments has launched the Delaware Diversified Floating Rate Fund, which will invest across the fixed income investments spectrum for those investors looking for exposure to floating-rate securities; at least 80% of its assets will be in floating-rate securities.

When people are afraid, they cut back on discretionary expenses, which is how most people view estate-planning services, one expert said.

The New York company announced Monday that it has hired a former T. Rowe Price executive to lead its charge in the bank channel.

The law firm of Berman DeValerio has filed a class-action lawsuit against broker/dealer PrimeVest Financial Services and two of its subsidiaries for allegedly overcharging investors nearly $5,000 in sales charges on Class A mutual funds by failing to apply sales breakpoint discounts.