Portfolio

Calamos Investments, which has $30.5 billion of assets under management, has elected to make State Street Corp. its sole investment servicing provider for all of its U.S. and global products. As a result, State Street will expand beyond its current back-office offerings to provide custody, fund administration and securities lending services.

H&R Block has settled with the New York Attorney General over alleged excessive fees it charged investors it steered to its Express IRA. The tax preparer will refund between $11.4 million and $19.4 million to customers and pay $750,000 in fines and fees.

With asset managers continuing to slice and dice the investment landscape by introducing niche products, Lazard Asset Management LLC announced Tuesday that it launched an actively managed mutual fund that focuses on infrastructure companies.

Chinese fund managers are cutting back on their equity exposure to an average of 86.4%, down from 88.3%, according to a Reuters poll. Evidently, soaring real estate prices has many investment managers expecting the Chinese government to impose monetary policies to curb the runaway prices.

The RIA's new fund complements traditional U.S.-based equity and fixed-income investments.

A small Atlanta registered investment advisory firm is hoping to drum up business by offering personalized 401(k) advice, but analysts warn that drilling down to offer investment advice to retirement plan participants could be more trouble than it is worth.

AXA Equitable has introduced the Retirement Cornerstone annuity, a dual-track product that offers exposure to both aggressive growth and investment protect.

With asset managers continuing to slice and dice the investment landscape by introducing niche products, Lazard Asset Management LLC announced Tuesday that it launched an actively managed mutual fund that focuses on infrastructure companies.

The tax preparation company agreed to pay as much as $20.2 million to customers that bought its Express IRAs.

Long-term mutual funds took in $12.25 billion in the week ended Dec. 23, bringing the sales streak to 41 weeks and a total of $413 billion, according to the Investment Company Institute.