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NEW YORK - The whole world will be in a recession throughout 2009, economists say, but it will be the U.S. and its strong dollar that lead the world to recovery sometime in 2010.
January 19 -
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.
January 19 -
Institutions continued to seek safety in money market mutual funds in the latest week, and total assets of the funds grew by $27.13 billion to reach $3.922 trillion for the week ending Jan. 13, according to the Investment Company Institute.
January 16 -
Christopher Wilson, who ran the Columbia Funds unit at Bank of America, has left the company and been replaced by J. Kevin Connaughton.
January 16 -
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.
January 16 -
The days when millionaire investors scrambled to get into a hot hedge fund are over, at least for now, Reuters reports. Skittish about the steep losses hedge funds experienced in 2008, investors are hesitant to put new money in hedge funds.
January 16 -
Fidelity Investments has reorganized its institutional equity team, naming Michael S. Cashel, senior vice president, equities, and chief of institutional sales trading. Michael J. McConnell is senior vice president, head of sales trading for institutional equities.
January 15 -
Morgan Stanley Investment Management has reopened the $1.4 billion Morgan Stanley Global Infrastructure Fund to new U.S. investors. Later in the year, Morgan Stanley plans to make a similar strategy available to international investors.
January 15 -
Grail Advisors has filed to offer two actively managed exchange-traded funds, the Grail American Beacon Large Cap Value ETF and the Grail American Beacon International Equity ETF. Both will be sub-advised by American Beacon Advisors, a manager-of-managers.
January 15 -
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.
January 15