Portfolio

Fidelity Investments is expanding its capital markets division by 20%, or 80 positions, in trading, sales, prime brokerage and operations to serve clients trading mutual funds and hedge funds.

The average account balance of 401(k) investors that MassMutual administers fell 25% in 2008, but, nonetheless, participants are sticking with the plans.

Connecticut lawmakers have proposed hedge fund regulations, including obtaining a license, annual audit, disclosure of fees and significant changes in management or investment strategy, as well as a higher minimum investment threshold of $2.5 million for individuals and $5 million for institutions.

Fidelity reported Tuesday that assets under management fell 22% in 2008 to $1.25 trillion.

Morningstar is changing the way it looks at mutual funds by using new tools that consider the underlying stocks and asset allocations in a fund's portfolio.

Since the onset of the credit crisis in August 2007, the financial services industry has lost 325,000 jobs around the world, according to the International Labor Organization.

Mutual funds' 2009 sales outlook is modest, according to Keefe, Bruyette & Woods.

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.