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Defined contribution plans have been hammered by dropping equity markets, and this chain of losses has caused a ripple effect throughout the fund management industry.
February 9 -
The Investment Company Institute is pushing for improvements to municipal disclosure, which it generally considers limited, non-standardized and stale.
February 9 -
The Securities and Exchange Commission has begun distributing $321 million to the two million Alliance Capital investors who were harmed by market timing. This first installment is a total of $46 million, distributed to 300,000 investors.
February 9 -
John Hancock Retirement Plan Services has expanded its sales team by 18, hiring eight regional vice presidents and 10 professionals to man its new internal sales desk. This is a 15% increase in John Hancocks team supporting advisers selling 401(k)s.
February 9 -
RiverSource Investments, American Century Investments and OppenheimerFunds have received "F" grades from a Morningstar analyst for failing to explain recent changes to shareholders and adding to the paranoia of already shaken investors.
February 6 -
Reports that U.S. Sens. Carl Levin's and Charles Grassley's new bill on hedge fund regulation will force funds to publicize the names of clients are untrue, the senators said.
February 6 -
Fidelity on Tuesday began the second phase of job layoffs which started last year. In this phase, 1,700 people will lose their jobs.
February 6 -
Total money market mutual fund assets rose by $2.38 billion in the week ended Feb. 4, for a total of $3.906 trillion, the Investment Company Institute reported.
February 6 -
With the average target-date fund down 17% in 2008, investors might think twice about what has been one of the best-selling fund categories of the past few years, MarketWatch reports.
February 5 -
With few corporate bonds being traded these days, fixed income mutual fund managers are having a very hard time running their funds, The Wall Street Journal reports.
February 5