Portfolio

Money market fund assets fell by $25.22 billion to $3.764 trillion in the week ended June 3, the Investment Company Institute said.

Great-West Retirement Services has launched an updated set of target-date funds that it believes will address some of the problems that were found with target-date funds in 2008.

ProFunds Group has launched four leveraged international exchange-traded funds that will track the Europe, Australasia and Far East region, emerging markets, China and Japan. The funds will aim to return twice the daily performance of indexes tracking those regions.

The retirement centers of E*Trade, Fidelity and Ameritrade are the most complete of 14 leading brokerages, according to a new report from Corporate Insight.

Capital Group will cut 9% of its global workforce of 9,000, or 820 jobs, this month. This will be American Funds’ parent company’s second round of layoffs, in response to a 29% decline in assets from $1.2 trillion to $850 billion. The company eliminated 500 jobs in January.

A Connecticut bill that would have imposed transparency and licensing requirements on hedge funds failed to be signed into law Wednesday when the House of Representatives ran out of time to vote on the measure.

Long-term mutual funds experienced net inflows for the 11th straight week, the Investment Company Institute said, reaping $7.85 billion for the week ended May 27.

After so many 2010 target-date funds came up short last year, Prudential Retirement investigated how they might be improved, and decided that including retirement income guarantees would be a key benefit. They would freeze the asset allocations of target-date funds five or 10 years prior to retirement, in exchange for guaranteed income.

Financial Engines has improved its 401(k) advice services with the launch of the Financial Engines Retirement Plan, a personalized statement that addresses each investor’s savings, investments and retirement income needs.

Baring Asset Management has launched an international small-cap fund for institutional investors that will seek long-term capital growth by investing in Europe, Japan and the Far East, with the Morgan Stanley Capital International Europe Australasia Far East Small Cap Index as its benchmark.