Portfolio

After several false starts, Reserve Funds announced it is planning to honor $25 billion of redemptions in its Primary Fund by the end of the month, plus cash accumulated, as well as $3 billion for its Government Fund seven to 10 days thereafter. Reserve has been trying to reimburse investors $20 billion, initially scheduled for Oct. 13, and has now increased that initial figure to $25 billion.

XBRL US is asking mutual fund companies, investors and users of prospectus filing information for feedback through Nov. 24 on how well their suggested data tags will work for mutual fund summaries on risk/returns and schedules of investments.

With the markets tumbling, a recession on the horizon and people growing increasingly fearful of losing their jobs, more parents are delaying saving for their children’s college education, Investment News reports. Sales of 529 plans fell 33% in the first six months of the year to $6.3 billion, down from $9.8 billion a year earlier.

“The market will recover. It always does. Just no one knows when,” Alan F. Skrainka, chief market strategist for Edward Jones told the Associated Press. “The important thing is to focus on the things that you can control, like the amount you’re investing and the quality of the investments that you’re buying.”

The Depository Trust and Clearing Corporation (DTCC), the largest financial clearinghouse in the U.S., is in talks to merge with its European rival LCH.Clearnet in a deal worth approximately $950 million.

With losses mounting—the average hedge fund is down 10% this year—hedge fund investors are increasingly looking to head for the exits, and hedge funds are putting up barriers, Dow Jones reports.

Ameriprise Financial is expanding its discretionary mutual fund wrap program through its new Active Diversified Portfolio series, by adding to its line-up of investment managers.

Mutual of Omaha is now offering retirement advice in its 401(k) Toolbox, a service called Manage It For Me.

Morningstar Investment Services is offering three managed account services to provide investors with retirement income at three levels of risk and time ranges.

WASHINGTON – Despite signs of renewed strength in the credit markets, the Federal Reserve Board on Tuesday unveiled a new program to provide more liquidity to money market mutual funds.