Portfolio

After years of adding innumerable bells and whistles to annuities to attract investors, insurance carriers have begun to prune their offerings—not just to simplify them but to reduce their indemnification, The Wall Street Journal reports.

Third Avenue Management announced Monday that Martin Whitman, one of the company’s co-founder, has stepped down from his role as co-CIO.

A number of executives at Saturna Capital donated their holiday bonuses to charities, the second year in a row they did so.

Dennis Delafield and Vincent Sellacchia, managers of the Delafield Fund, which soared 55% in 2009, will continue to take a cautious approach in 2010, seeking out small- and mid-cap companies that are clearly poised for growth, keeping 20% of assets, a record amount, in cash, and paying keen attention to companies’ debt covenants.

While investors have continued to steadily contribute to their 401(k)s throughout the two-year-long financial crisis and have kept 401(k) loans, hardship withdrawals and cash-outs to a minimum, there was, after all, a sudden surge in withdrawals last year, according to Vanguard.

Brokers are continuing to rush for the exits of large brokerage firms to join independent firms, putting as much as $5 trillion in Americans’ retirement savings in play and prompting brokerage giants such as Schwab, Fidelity and TD Ameritrade to offer technological and business enticements.

Besides emerging markets mutual funds, which delivered an average return of 72% in 2009, technology, gold and commodities funds were also winners, according to Lipper.

Emerging markets funds, particularly those focused on the BRIC nations of Brazil, Russia, India and China, were the top gainers in 2009, soaring an average of 72%, according to Morningstar data.

Forefront Advisory, an independent asset management firm, is using the financial crisis as an opportunity to scoop up laid-off and unhappy Wall Street talent, giving them a chance to strike out on their own.

Responding to a spate of scams, the Financial Industry Regulatory Authority has issued an investor alert regarding "green energy" investments.