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Hedge funds posted their best monthly performance in nine years, with the HFRI Fund Weighted Composite Index rising 5.2% in May, Hedge Fund Research indicated.
June 8 - Money Management Executive
E*Trade has created an online investment guidance tool called Online Adviser. It asks investors about their individual preferences, risk tolerance, time horizon and goals to supply them with actionable investment guidance, including recommended asset allocations and investment choices. Investors have the choice of building a portfolio entirely on their own or with the help of a registered investment adviser affiliate.
June 8 -
Citing the positive effects of diversification and continued contributions, Vanguard announced that the median decline in the three million defined contribution accounts it administers fell 17% in the 15 months ended March 31, as opposed to the markets overall 44% decline.
June 8 -
Variable annuity sales declined 27% in the first quarter to $30.7 billion, compared with $41.9 billion in the first quarter of 2008, LIMRA announced.
June 8 -
Fidelity Investments and Kohlberg Kravis Roberts jointly announced Monday that the two firms have struck an agreement whereby the Boston-based mutual fund company's customers will be to access the initial public offerings and secondary stock sales of KKR portfolio companies.
June 8 -
Fidelity Investments chief of technology and real estate operations, Marvin Adams, will be leaving the company, according to reports.
June 8 -
Finally, insiders launched candid criticism at the mutual fund industry last week, to help it respond sensibly to the economic meltdown and reposition itself to regain investor trust.
June 8
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Thanks to shady money managers like Bernie Madoff who ruined it for everyone, the lucrative and surreptitious heydays of hedge funds may be gone for good.
June 8