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Assets in exchange-traded funds around the world now surpass $1 trillion, soaring an astounding 45.2% from $710.9 billion at the end of 2008 to $1.032 trillion at the end of last year, BlackRock reported. By comparison, the return on the MSCI World Index in that timeframe was 27%, indicating that a good percentage of that growth was driven by inflows.
January 14 -
Financial Engines, an online 401(k) financial advisory firm aimed at individual investors, is planning a $100 million initial public offering aimed at large institutions and wealthy investors.
January 14 -
Wells Fargo, advisor to the Evergreen funds, is renaming the funds Wells Fargo Advantage Funds and merging and reorganizing many of the portflios. The end result will be a family of 128 mutual funds, variable trust funds and managed account shares, down from 177.
January 14 -
More high-net-worth and ultra-high-net-worth investors considered themselves “conservative” last year as compared to a year earlier, according to a Spectrem Group survey.
January 14 -
The raging bull market of the last 12 months will continue throughout 2010 but at a slower, steadier pace, giving investors reason to draw back slightly on risk, according to BlackRock’s Bob Doll, the vice chairman and global chief investment officer of fundamental equities and Curtis Arledge, managing director and co-head of U.S. fixed income portfolio management group, in their forecast for the first quarter.
January 13 -
The Securities and Exchange Commission has appointed five individuals to specialize in various areas of investigation and has also created an Office of Market Intelligence to compile the hundreds of thousands of tips, complaints and referrals that the SEC receives each year.
January 13 -
ETF Securities has launched two exchange-traded funds that are the first to be physically backed by platinum and palladium. The company already offers ETFs backed by gold and silver.
January 13 -
Grail Advisors, a provider of actively managed exchange-traded funds, has recruited Gary Black, the former chief executive officer of Janus, to serve as a director on its advisory board.
January 13 -
Institutional investors remain optimistic that the global economy and the interest rate-ridden housing market will help create “stability” and growth in the New Year, a Northern Trust Global Advisors (NTGA) survey found.
January 13 -
Basing the awards on superior risk-adjusted results and shareholder stewardship, Morningstar has named its Fund Managers of the Decade, bestowing the honors on PIMCO’s Bill Gross, Fairholme’s Bruce Berkowitz and Oakmark’s David Herro, respectively, for fixed income, domestic equity and international equity.
January 13