Portfolio

Securities and Exchange Commission Chairman Mary Schapiro answered Paul Scott Stevens’ volley with one of her own in front of the Committee on Banking, Housing, and Urban Affairs of the United States Senate.

Columbia Management launched the Columbia Risk Allocation Fund (CRAAX).

The tax-exempt money market sector saw a moderate decrease in cash in the week ended June 18 as $801.2 million exited the funds and total net assets settled at $271.40 billion, according to the Money Fund Report, a service of iMoneyNet.com.

Muni bond indexes were mixed on the week as the need to put truckloads of reinvestment money to work pushed investors to buy munis even while yields sat at barrel-scraping levels

On June 22, 2012, Columbia Management this week launched the Columbia Risk Allocation Fund (CRAAX).

For bank reps looking to advance their careers, there’s no better news than a promotion or a job offer that’s too good to refuse. Here’s a sampling of bank reps who were recently promoted or moved to new organizations to assume roles of greater responsibility.

The Dow Jones Industrial Average tumbled 250.82 points Thursday to finish at 12,573.57 while the Nasdaq and S&P 500 fell 71.36 points and 30.18 points, respectively.

On June 21, 2012, Gary Motyl, former chief investment officer of Templeton Global Equity Group and president of Templeton Investment Counsel, LLC, died suddenly on June 18, reports the Miami Herald.

Unlike funds that target clean tech or alternative energy, the new ETF will focus on a broader universe of companies that have the goal of making money.

“Investors seem to equate investing with gambling,” said George C.W. Gatch of J.P. Morgan Asset Management, and they “have begun to doubt the power of diversification.”