Portfolio

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

DOL Drops Controversial Advice Rule

NEW YORK - Investors and money managers looking to diversify their portfolios by getting into commodities and commodity exchange-traded funds should keep in mind the volatile nature of these products, as well as the wide range of possible risks, experts say.

Two college-savings companies are borrowing a page from the consumer cash-back loyalty playbook, offering customers rebates on services including refinancing mortgages or opening online bank accounts. Futuretrust, a unit of Destination Maternity Corp., and Upromise Investments have partnered with a series of other financial services companies to offer rebates that can be swept into section 529 college-savings plans.