Portfolio

Baron Appoints Jacobs Chief Distribution Officer

401(k)-Affiliated Advisers May Offer Advice: DOL

BlackRock reported an 84% decline in fourth-quarter income, to $53 million, and full-year 2008 net income of $786 million, a 21% decline. Assets under management only declined negligibly, however, by 3.7% to $1.3 trillion.

Fidelity, Franklin, Legg Mason Suffer Largest Redemptions in 2008

If money managers want to invest in this highly volatile, largely negative financial environment, they must change the way they invest.

Mistakes, bad luck and unexpected events can happen to any firm during good times and bad, but tackling misfortune in a forthright, brutally honest manner rather than trying to sidestep unpleasant truths can mean the difference between a small crisis and a full-blown public relations nightmare.

Fair value reporting seemed anything but fair last October when prices fell off a cliff.

Investors overwhelmingly believe that environmental issues offer tremendous long-term investing opportunities, Allianz Global Investors found in a survey of 1,264 adults with household financial assets of at least $100,000 in December.

In light of the recent market downturn and the difficult position that has left millions of near-retirees, Charles Schwab has launched a new suite of advice and tools specifically geared to investors within 10 years of retirement, called Real Life Retirement Services. Built as a type of social network, the accompanying website gives investors a place to ask questions and share their own experiences, including a survey that shows them how their retirement expectations compare with their peers.

Despite a more than 40% decline in Chinese funds last year, Toronto-based Manulife Financial is determined to launch a mutual fund business in China before the end of the year.