Portfolio

Pershing, a subsidiary of The Bank of New York Mellon, has added funds from Neuberger Berman, The Hartford and T. Rowe Price to its no-transaction-fee mutual fund platform, FundVest.

As it debuted its first exchange-traded fund on the NYSE Arca Tuesday, PIMCO announced it plans to launch six additional fixed income ETFs.

Hedge fund redemptions will slow in 2009 and be aided greatly by $50 billion in inflows to end the year with around $1.3 trillion in total assets in the U.S., Barclays Capital said in a report issued Tuesday based on interviews with 300 investors and 100 hedge funds.

Although credit markets are improving, money market funds are struggling to deliver positive returns, and as a result, since late last year, nearly all money funds, perhaps as many as 90%, have been waiving fees to avoid breaking the buck, The Wall Street Journal reports.

Credit Suisse has formed an investment strategies and solutions group, to be led by David Russ, the former chief investment officer of Dartmouth College’s office of investments. The division will collaborate with the institutional distribution team.

Fidelity Investments promoted Abigail Johnson to chairman of the board of directors overseeing fixed income and asset allocation funds, yet another indication of the firm’s intention to eventually name the younger Johnson successor to her father, Edward C. “Ned” Johnson III, 78, as head of the company.

Invesco, manager of the Aim and PowerShares families of mutual funds, has launched the Aim Balanced-Risk Allocation Fund, an international balanced fund. Via derivatives, it will invest 60% of its assets in fixed income, 20% in equities and 20% in commodities.

From recommending different products to rethinking their risk management strategy, some financial advisers say they have changed their approach in the wake of last year's market slump.

Connecticut lawmakers in the House of Representatives are expected to pass a hedge fund transparency bill, possibly ending the state’s days as a hedge fund haven, The Wall Street Journal reports.

Federated Investments has acquired two mutual funds from Touchstone Advisors, the Touchstone Value Opportunities Fund and the Touchstone Diversified Small Cap Value Fund. Combined, the two funds have $233 million in assets. And they will be folded into the Federated Clover Value Fund and the Federated Clover Small Value Fund, respectively.