Portfolio

High-net-worth investors are reordering their priorities when selecting investment providers, according to “New Horizon, New Behavior,” a study of 2,100 investors released by Barclays Wealth.

To help parents and their children alike manage their finances better, Wells Fargo is promoting online budgeting and savings tools available on its website, and releasing the findings of a survey of parents on their children that demonstrate a generational knowledge gap.

Only 376 hedge funds liquidated in the first quarter of the year, down 52% from 778 that shut their doors in the fourth quarter of 2008, Hedge Fund Research said. The number that liquidated in the first quarter represented 4.05% of the 9,050 total number of hedge funds, and the number that went out of business the previous quarter was 7.77%.

The number of people who believe their financial security is worsening is now 45%, down from 49% in April, a survey by Country Financial found.

The Department of Labor and the Securities and Exchange Commission have released the agenda and list of speakers at this Thursday’s hearing on target-date funds.

Hedge funds are returning to the practice of leveraging, with some levels as high as 50%, Reuters reports. Nonetheless, risk-taking, even by hedge funds, is not expected to return to pre-crisis levels.

Fidelity Investments is planning to charge advisers for referrals to high-net-worth investors in its discount brokerage program that it makes to them.

After dropping 38.9% in 2008, slightly worse than the S&P 500’s 37% decline, the average stock mutual fund is up 9.9% year to date, quite a bit better than the index’s 5.3% return, The Wall Street Journal reports.

Americans are increasingly worried about their preparedness for retirement, The Hartford found in a survey. Thirty-four percent were either “extremely” or “very” worried about their ability to save for retirement, and 56% said they feared they would have to cut back on their contributions.

Canellos to Run SEC's New York Bureau