Money Management Executive Latest News

As the nation reaches the Aug. 2 deadline to raise the debt ceiling, Fidelity Investments is telling investors not to panic-sell out of stock and bond funds, and to have confidence in money market funds, which have been safeguarded and have complied with stricter holding rules for the past year.

Putnam Investments is becoming a key sponsor for Gillette Stadium, home of the New England Patriots football team, replacing Fidelity Investments. As part of the deal, Putnam’s name will replace Fidelity’s on two 3,000-seat luxury clubhouses, the roadway leading in, the entrance and a parking lot. As a result, “Fidelity Way” will become “Putnam Parkway” and the stadiums will be called the “Putnam Club.”

A majority, 63%, of middle-class Americans thinks that the U.S. is in a double-dip recession, the First Command Financial Behaviors Index shows. Fifty-percent thought the U.S. had reverted back into recession last summer.

Fifty-five percent of men focus on planning their financial health at least once a week, compared to 42% of women, a survey by Genworth found. Nonetheless, more women than men believe financial well being is critical to maintaining a balanced life.

MassMutual has made a number of enhancements to its RetireSMART target-date and lifecycle funds, most notably adding mutual fund options to its target-date series. Previously, only separately managed accounts through a group annuity contract were offered as target-date funds.

U.S. exchange-traded funds are on pace to attract at least $100 billion in inflows this year, according to State Street Global Advisors’ report, “2011 Mid Year SPDR ETF Outlook.” In the first six months of the year, ETFs saw $56.3 billion in net inflows, a 51% increase from the $37.3 billion in net inflows in the first half of last year.

Despite declines in the stock market in May and June and growing concerns over sovereign debt and the possibility of a double-dip recession, long-term funds around the world took in $350 billion in net flows in the first six months of the year, according to Strategic Insight.

Federated Investors has absorbed $100.6 million in assets from the Tributary International Equity Fund and merged them into the Federated International Leaders Fund, a fund will a similar mandate and that invests in high-quality foreign companies that appear to be undervalued.

Outflows from long-term funds totaled -$4.58 billion in the week ended July 20, the Investment Company Institute said.

Need a reason for optimism about the U.S. economy? The Hartford’s chief investment strategist for wealth management has six.