Money Management Executive Latest News

Talk about reversal of fortune. Up until the economic crisis took full effect in 2008, mutual fund companies were anxious to get into the hedge fund game. Now, with investors heading to the hedge fund exits, the opposite is happening.

Dreyfus is planning to launch two funds-of-funds, the Dreyfus Diversified Global Fund and the Dreyfus Satellite Alpha Fund. The diversified global fund seeks long-term capital appreciation by investing in six of Dreyfus’ other funds, including those tied to equity income, real estate, sustainability investments, worldwide growth, global alpha and global equities.

Retirement confidence has hit a record low since the Employee Benefit Research Institute began its annual survey in 1993, with only 13% saying they believe they will have enough money for a comfortable retirement, and 25% saying they believe they will have enough money for just basic expenses. Those already in retirement also have downgraded outlooks, with only 20% saying they are very confident.

LECG Expands Platform With Hiring of Vinella

Rather than stress individual fund performance or investors' malaise in its new advertisements, Fidelity is focusing on providing sound guidance and building on its trusted brand. And that is the focus of the "Guide to Personal Savings" campaign, taglined "Turn Here," Fidelity Chief Marketing Officer James D. Speros told The Boston Globe.

Half of participants in 401(k) plans would like to have the option of rolling their money into a guaranteed income solution, but that does not exist in their plan, MetLife found in a recent survey, its seventh annual Employee Benefits Trends Study. Only 21% of employers said they would consider offering guaranteed income solutions, and only 16% of employers currently offer income annuities in their 401(k) plan.

Frugality Expected to be the 'New Normal'

With new global regulations forthcoming, corporate compliance departments will need to upgrade aging systems and expand automation technology just to keep up. The time for little fixes may be over, and firms cannot use the recession as an excuse for putting investments off.

Equity funds were clobbered in the first quarter of 2009, declining 9.25%, Lipper reported last week. Performance would have been even worse, were it not for a surprise rally in March.

The Securities and Exchange Commission is considering eliminating the stable, $1 net asset value (NAV) requirement that money market mutual funds have long held, by either making the funds have a floating $1 NAV or a $10 NAV.