Portfolio

Affluent retail investors are pulling assets away from traditional mutual funds in favor of exchange-traded funds and other alternatives, resulting in significant market consolidation, according to new findings by Cogent Research.

Cove Street Capital is sponsoring its first mutual fund, the CSC Small Cap Value Fund, which it begin managing on Jan. 27. The fund’s former investment manager was City National Asset Management, Inc.

Affluent retail investors are pulling assets away from traditional mutual funds in favor of exchange-traded funds and other alternatives, resulting in significant market consolidation, according to new findings by Cogent Research.

Exchange-traded fund developer Invesco PowerShares Capital Management plans to list two ETFs that will give investors access to what it calls “high-beta strategies,’’ covering the emerging and international developed markets.

Due to internal company limits on the number of exchange traded notes it can have circulating in securities market, Credit Suisse said it has temporarily suspended issuance of the high volatility product VelocityShares Daily 2x VIX Short-Term ETNs.

Bond behemoth PIMCO is making a push into the equities space with the hire of Geoffrey Johnson as an executive vice president and global equity portfolio manager. He will begin with the firm in April and will be based in the Newport Beach, Calif. office.

After one year at the company, Scott Carmack has been promoted to work alongside founder John Lekas to develop investment operations.

The Dow Jones Industrial Average shed 27 points to close at 12,938.67 as persistent EU concerns and a disappointing revision of the December home sales data weighed heavily on investors’ minds.

Exchange-traded fund developer Invesco PowerShares Capital Management plans to list two ETFs this Friday that will give investors access to what it calls “high-beta strategies,’’ covering the emerging and international developed markets.

Due to internal company limits on the number of exchange traded notes it can have circulating in securities market, Credit Suisse said Wednesday it has temporarily suspended issuance of the high volatility product VelocityShares Daily 2x VIX Short-Term ETNs.