Portfolio

Spitzer Resigns After Prostitution Scandal

Two former designers of sports cars and fighter airplanes have formed the hedge fund Solytix Capital, which focuses on quantitative analytics.

Target-date funds are helping average investors get the same type of service wealthy clients have traditionally had when it comes time to transition a retirement plan from being aggressive to a more conservative plan.

Fund.com Appoints Webster as President

Contrary to popular belief, contrarian funds don't bet against the stock market. They bet against mainstream trends and look for undervalued areas with strong potential.

Cutting edge technology has facilitated the unified managed account (UMA) becoming ubiquitous within the wealth management industry. Today multiple investment products such as separate accounts, mutual funds and exchange-traded funds can all peacefully co-exist, nestled together under a single client registration.

These days the concept of sustainability is a hot ticket into the world of socially responsible investing. Just last week, a trio of investment management firms announced plans to incorporate the components of sustainability investing into their product offerings.

China's securities regulator has approved the creation of three new mutual funds in an effort to bolster the country's sagging stock markets, the Xinhua news agency reports.New Century was approved for a stock fund and Lion and Changsheng were approved for funds that can have a stock/bond mixture.China's benchmark index Shanghai composite closed at a seven-month low of 3,962.673 on Friday.

The Investment Company Institute said total money market mutual fund assets rose for the week ending March 12 by $6.46 billion to $3.454 trillion.Retail money market mutual fund assets rose by $5.55 billion to $1.246 trillion, taxable money market fund assets in the retail category rose by $3.17 billion to $951.36 billion, and tax-exempt fund assets rose by $2.37 billion to $294.66 billion.Institutional money market fund assets rose by $913 million to $2.208 trillion, taxable money market fund assets fell by $1.98 billion to $2.027 trillion, and tax-exempt fund assets rose by $2.89 billion to $180.99 billion.Money Fund Report, a service of iMoneyNet Inc., said the seven-day average yield on money market mutual funds fell from 2.78% on March 4 to 2.73% on March 11. The 30-day average yield fell from 2.96% to 2.88% during the same period.The seven-day compounded yield fell from 2.82% to 2.77%, while the 30-day compounded yield fell from 3.01% to 2.92%. The average maturity of portfolios held by money funds was 42 days, up from 41 days, Money Fund said.

The majority of economists surveyed by The Wall Street Journal say the U.S. has finally slid into a recession.