Portfolio

Increasingly positive media coverage of consumer spending boosted the Dow Jones Economic Sentiment Indicator to 38.3 in November, up 1.4 points from a reading of 36.9 in October.

Forty percent of employers surveyed by the International Foundation of Employee Benefit Plans said they believe the worst of the economic crisis is over. Twenty-seven percent said they did not think we are out of the woods, and 33% were neutral.

Putnam Investments is counting on its client servicing capabilities to help transform its defined contribution business into an industry leader, according to the head of that business.

The steep losses that mutual funds experienced last year will come in handy this year as funds outside of qualified accounts look to offset capital gains, according to a recent Morningstar report. In fact, funds have up to eight years to harvest losses, which will make them tax-efficient for years to come.

European private equity firm Permira has acquired a financial services firm devoted to retirement preparedness, Just Retirement, for $374 million. This marks Permira’s first financial services investment since setting up a sector team devoted to the industry last year.

Hedge funds are on track to deliver their best performance in a decade, according to Hedge Fund Research. As of Nov. 24, they were up an average of 18.81%. If they rise just another 63 basis points, they will beat their past record in 1999.

Citing modest improvement in the economy and shipping volumes, Federal Express will resume its matches to employees’ 401(k) plans and resume merit pay increases up to 2%, starting Jan. 1.

U.S. District Court Judge Paul Gardephe ordered Reserve Funds to repay the remaining $3.5 billion remaining in the Primary Fund, minus the $83.5 million the company is setting aside for legal expenses, to investors. The money will be paid on a pro rata basis.

Wirehouse advisors are increasingly shunning separate account programs in which securities are directly held in favor of other types of managed accounts that use mutual funds, exchange-traded funds, annuities or other professionally managed securities because they find the latter gives them more flexibility to control their clients' assets, according to a new report from Cerulli Associates.

Dumas, Leeson, Doucet Join Putnam DC Team