Money Management Executive Latest News

The average expense ratio of stock funds rose slightly in 2009, by two basis points to 86 BPS, but total fees and expenses, including load fees paid by investors, remained largely unchanged on an asset-weighted basis in 2009, the Investment Company Institute said.

Despite a turnaround in the stock market and signs of recovery, a new survey by Citigroup revealed that American consumers still feel pessimistic about the economy, both nationally and locally.

Amid concerns over inflation and growing investors appetite for non-correlated asset classes, American Century has introduced the Strategic Inflation Opportunities Fund. Using fixed income and quantitative equity strategies, the fund invests in U.S. inflation-indexed securities, commodity-related investments and non-U.S. dollar investments.

Despite the potential heavy burden that long-term care costs could place on many Americans during retirement, very few have actually planned for it, according to a survey by Genworth Financial.

Retirement nest eggs are climbing back after suffering through the recession. Assets held in retirement accounts rose 18% from a year earlier to $9.3 trillion as of Dec. 31, according to Spectrem Group.

At MetLife’s sixth annual benefits symposium in Washington this week, Treasury and Department of Labor officials discussed the difficulties of including annuities in 401(k)s. The two agencies have asked the public for comments through May 3 on including lifetime income solutions in employer plans.

The Financial Industry Regulatory Authority has told 50 leading bond mutual fund companies to remove credit ratings on their holdings from advertisements, marketing materials and websites.

The Securities and Exchange Commission has proposed significant revisions to Regulation AB and other rules regarding the offering process, disclosure and reporting for ABS. The 5-0 vote Friday morning counts the SEC as an added player in the huge push coming from various regulators for more “skin-in-the-game” by ABS issuers.

Many of the biggest institutions that own municipal bonds beefed up their holdings last year as state and local government debt became something of a preferred asset.

Assets held in U.S. exchange-traded funds rose 7.2% in March from the previous month to $806 billion, according to monthly data from State Street Global Advisors released last week. ETFs outpaced the Standard & Poor’s 500 Index, which rose 6%.