Portfolio

After a large inflow for the previous week, assets of institutional money market funds decreased by $1.06 billion to $1.686 trillion for the week ending Aug. 22.

The inclusion of alternative ETFs in a portfolio provides a risk-adjusted benefit to investors, according to research from Lipper.

John Hancock Financial, the U.S. division of Manulife Financial Corp., has named James D. Gallagher as executive vice president, general counsel and chief administrative officer.

The SEC has approved an Amex Options exchange plan to test trading in options contracts without any limits on the amount of contracts held in the SPDR S&P 500 Exchanged-Traded Fund. That gives the NYSE Euronext unit the ability to match the no-limits policy offered by the Chicago Board Options Exchange.

The Investment Company Institute, which lobbied heavily against money market regulatory changes that were supported by Securities and Exchange Commission Chairman Mary Schapiro, said it was “pleased” that the commission was dropping its plans to pursue those changes.

Plan participants who pick their own mix of investment options are generally exposed to greater risk due to reduced diversification, according to The Principal.

Generation X and Y are more likely to look for lower risk alternatives than boomers and older generations.

KPMG has brought on board several new partners and managing directors to bolster the firm’s Alternative Investment Funds practice.

BOK Financial Corp. has acquired The Milestone Group, a Denver registered investment advisor. The acquisition enhances BOK's presence in Denver and brings its assets under management and administration across all its subsidiaries to nearly $50 billion, the company said in a statement. BOK has maintained a presence in Denver through its local bank brand, Colorado State Bank and Trust, a 100-year-old company. The acquisition will strengthen the Colorado bank's wealth management business. .

Trust funds are typically plump with assets to manage. Now, RIAs may be able to keep those asset management fees, after trusts are funded, without having to disrupt back office operations.