Money Management Executive Latest News

Matthews International Capital Management has launched an umbrella UCITS in Luxembourg comprised of three Asia-focused funds: Asia Dividend Fund, Pacific Tiger Fund and China Fund. It is the first time investors outside of the U.S. have had access to Matthews funds.

Americans’ financial security sentiments inched up in October for the first time in six months, increasing by 0.7 points to 64.4, the Country Financial Security Index shows.

Genworth Financial has agreed to pay $35 million, plus additional performance-based payments, to acquire alternative investments platform provider Altegris. The deal is expected to close at the end of the year.

Whereas a year ago, 64% of American workers expected to work at least another three years to recoup the losses taken in their retirement accounts as a result of the financial crisis, 80% now are planning to remain in the workforce another three years to age 70 or older.

Expect moderate growth of 2%, led a gradual rise in consumer spending, private-sector investment and more spending by the federal government, at least until the 2011 tax season. That’s what Wells Fargo’s economic group is predicting for the near future of what it describes as a fairly boring recovery.

RiverPark Advisors has launched a new family of no-load open-end mutual funds, three of which will invest in large-cap stocks.

Institutional investors’ outlook for global growth improved in the third quarter, with more than two-thirds, 68%, saying a double-dip recession is unlikely, a survey of 83 managers by Northern Trust Global Advisors found.

State Street Corp. has launched a new service to enable exchange-traded fund market makers and specialists automate orders. As ETFs have continued to grow in popularity and in number, State Street said, the complexity involved in servicing them has increased significantly.

The Hartford Financial Services Group has launched a new educational program to encourage participation in 401(k)s and other defined contribution plans.

The Internal Revenue Service has issued final regulations under a law change that will require reporting of basis and other information by stock brokers and mutual fund companies for most stock purchased in 2011 and all stock purchased in 2012 and later years, making it easier for investors to report their gains and losses next year on their tax returns.