Portfolio

Hedge funds are a little too secretive for the appetite of most institutional investors, but if the funds change too much in order to suit a broader audience, they could lose the very thing that made them appealing. The cachet of the inside know on where the smart money is.

IT practitioners and other tech types will kick off this week's 26th Annual NICSA conference and expo in Miami by addressing how fund companies will manage the industry's international expansion.

As the subprime contagion infects new corners of the financial markets, portfolio managers are voting with their feet and moving money into what are perceived to be safer investments.

Two senior-level executives with Julius Baer earned compensation packages worth $120 million in the first nine months of 2007, according to a regulatory filing.

A pair of senior executives of the U.S. asset management business of Julius Baer, the Swiss wealth business, earned compensation packages worth $120 million in the first nine months of 2007, according to a regulatory filing ahead of the unit's flotation planned for this year.

U.S. money manager Legg Mason denied market rumors this week that one of its money market funds had fallen to below $1 in net asset value, commonly known as "breaking the buck."

Morgan Stanley is eliminating 1,000 jobs as it scales back its residential mortgage operations in the U.S. and closes operations in the U.K., Reuters reports, citing Morgan Stanley information. More than 100 other mortgage lenders have cut jobs in the last year as the housing crisis worsens.

The credit crunch is crunching another corner of the market: securities tied to student loans, according to the Wall Street Journal.

Swiss private bank Julius Baer Holdings on Tuesday said it is preparing an initial public offering for sometime this year for its U.S.-based mutual funds unit.

Prudential Retirement announced today that it has entered into an external partner distribution agreement with The Newport Group to offer Prudential IncomeFlex, Prudential’s 401(k) retirement income solution. Under the terms of the agreement, Newport, a leading retirement services and investment advisory firm, will provide fully integrated access to IncomeFlex to its new and existing clients.