Money Management Executive Latest News

After reaching its highest point since the beginning of the recession, 46.7 in June, the RBC Consumer Outlook Index retreated by three points to 43.7 in July.

After rising in the first quarter, The Conference Board Measure of CEO Confidence retreated sharply in the second quarter to 55, down 12 points from 67. While still above 50, which reflects a more positive than negative outlook, the reading seems to indicate chief executive officers are bracing for slower growth.

Bank of America subsidiary Merrill Lynch Professional Clearing Corp. has been ordered to pay hedge fund clients Rosen Capital Partners and Rosen Capital Institutional $63.7 million plus interest for an arbitration case dating back to the height of the financial crisis.

Hedge fund managers have turned decidedly bearing on U.S. equities and the economy, according to a survey of 87 managers by TrimTabs Investment Research and BarclayHedge.

The Discover U.S. Spending Monitor, a daily poll of 8,200 consumers tracking their confidence in the economy and spending intentions, recorded its largest one-month decline in June, falling 4.4 points from 89.5 to 85.1—indicating that the majority of Americans believe the economy and their own personal finances are worsening.

Wells Fargo Funds Management has launched the Wells Fargo Advantage Dow Jones Target 2055 Fund, a target-date fund benchmarked against the Dow Jones Target 2055 Index and sub-advised by Global Index Advisors, State Street Global Advisors and Wells Capital Management.

The wind is at the back of alternative energy and it has a sunny future that investors should prepare to capitalize on. That’s the word from Anna Davydova, portfolio manager of the Fidelity Select Environment and Alternative Energy Fund.

The Vanguard Group has issued industry results from its “How America Saves 2011” report, based on the 3.2 401(k) investors it serves in 2,500 plans. The industry that saves the most in 401(k) plans is both small and large utilities (9.0% and 8.2% average contribution rates, compared to an average of 6.8%).

As the economy falters amid recent market volatility and mixed labor reports, second quarter employee confidence related to job security, pay raises and the job market has retreated to levels last seen in the height of the recession, according to a survey of 2,203 adults by Glassdoor.

The number of dividend increases rose 32.5% in the second quarter of 2011 to 444, up from 335 in the second quarter of 2010, Standard & Poor’s Indices said.