Practice

Millionaires and affluent investors suffered steep losses in 2008, and most, particularly Baby Boomers, are rolling their remaining assets into cash and stable-value investments for the foreseeable future.

A small, but growing number of 401(k) investors, burned by the steep negative returns in 2008, are moving assets into such capital preservation funds as stable-value and money market funds, Mercer Consulting reported.

Eighty-three percent of Americans are concerned about the effects today's economic conditions could have on their ability to retire, with seven in 10 saying it is harder to retire today than it used to be, according to a survey commissioned by the National Institute on Retirement Security.

President-elect Barack Obama's transition team is working closely with House Financial Services Chairman Barney Frank and other lawmakers to make sure that municipal debt is included in the federal government's economic recovery programs.

Massachusetts Secretary of the Commonwealth William Francis Galvin filed an administrative proceeding Tuesday against Reserve Funds and its founder Bruce Bent, accusing them of lying to investors about the dire straights of their investments in Lehman Brothers.

Variable annuity sales sank in 2008 as the stock market's swoon scared investors off.

NEW YORK - Millions of aging Baby Boomers heeded the reassuring words of their financial advisers and remained heavily invested in equities throughout 2008, only to watch in shocked disbelief as 40% of their life savings disappeared.

The Federal Reserve has allowed more companies to take part in its program to add more liquidity to money market mutual funds.

The Investment Company Institute, along with the UK's Investment Management Association and Australia's Investment and Financial Services Association, has released a combined statement in support of prudent regulatory oversight of short selling.

Standard Chartered’s Hong Kong division has agreed to reimburse $320,000 to 1,000 investors who were allegedly disadvantaged by the firm’s permitting Stone Castle, a Millennium Partners subsidiary, to market time 24 mutual funds managed by ACM Funds and Scudder Global Opportunities Funds.