Portfolio

Bank of New York Mellon is expecting the China Securities Regulatory Commission to approve a mutual fund joint venture it wants to launch in the third quarter in partnership with Western Securities.

Investment Company Institute President Paul Schott Stevens testified before the U.S. House of Representatives Education and Labor Committee on Tuesday to avow that the 401(k) model is working, in spite of the market’s downturn.

With the stock market so beaten down, investors are likely to continue to gravitate to bond funds, including those that invest in corporate bonds, The Wall Street Journal reports.

The Alternative Investment Management Association, a hedge fund group headquartered in the U.K., is pushing for more transparency, in an effort to stave off regulation.

With vastly lowered expectations for retirement, investors appear more amenable to annuities and other income-generating investments whose scaled-down returns they might not have considered before, NAVA found in a survey of 1,500 financial advisers.

Morningstar has replaced its Individual, Advisor and Institutional structure with Investment Information and Investment Management. Rather than focus on audience segments, the thrust is now product lines and growth strategies.

Morningstar reported third-quarter earnings of $19.3 million, or 39 cents a share, down 3.7% from $20 million, or 41 cents a share, in the third quarter of 2007.

Let's face it. The financial crisis is every bit as insidious as the most pessimistic prognosticators said it would be when the first cracks began appearing in the Bear Stearns hedge funds in the summer of 2007. And while President Obama signed the $787 billion stimulus package last week-hopefully a step in the right direction-there is no telling how long the crisis could continue.

As the global financial landscape continues to reshape, mergers and acquisitions this year will be led by those firms seeking capital or those that have capital in hand, according to Jefferies Putnam Lovell.

Morningstar has developed a series of 18 asset allocation indexes for investors and advisers to use as benchmarks for target-date and target-risk funds.