Portfolio

After a rough 2008 in which almost 1,500 portfolios closed, hedge funds and bank trading desks are hiring again, and the top managers are being snatched up quickly, Reuters reports.

Aviva Investors has launched a UK-focused, retail absolute return fund.

UMB Financial Corporation has discontinued the use of Moody's Investors Service for rating both its UMBFC and UMB Bank n.a.

After a series of high-profile losses in its money market fund sector, the Association of British Insurers has created the Deposit and Treasury sector, which will provide tighter controls on permitted investments.

Confidence among affluent investors grew in the second quarter, according to the TNS Investor Confidence Index.

Securities and Exchange Commission Chairman Mary Schapiro has named James L. Kroeker as the chief accountant in the SEC's Office of Chief Accountant.

Northern Trust Global Investments has been named the Investment Management Firm of the Year at ACQ Finance Magazine's third-annual awards ceremony.

JPMorgan Asset Management has named former Fortis Investment manager Pierre-Yves Bareau to lead its emerging markets debt unit, following last week's departure of two long-time emerging market bond managers at JPMorgan.

Hedge funds may have to change tactics, notably by cutting their leverage, and adapt to regulations that likely will restrict their investment strategies, according to a recent report about the $2 trillion alternative asset management industry published by Standard & Poor’s.

Broadridge Financial Solutions and DeltaConcept, a global provider of portfolio management solutions, have aligned to launch a Switzerland-based platform that provides front-to-back integrated solutions for private banks and asset managers.