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Hedge funds, as measured by the Dow Jones Credit Suisse Hedge Fund Index, rose 2.2% in the first quarter, with positive performance in each month.

On Tuesday, Charles Schwab today released its latest Active Trader Sentiment Survey, which polled 653 individual traders and investors between March and April 2011, who trade at least 36 times per year, and found that 72% of those who are expecting a tax refund this year plan on investing at least some of it. Twenty-eight percent say they will put the entire refund into their investment portfolios.

Global X Funds has launched the Global X Food ETF, in anticipation of growing demand for food, driven by the growth of emerging market nations.

Twenty of the 25 fastest-growing fund firms have less than $5 billion in assets under management, Strategic Insight said.

The Federal Reserve’s ultra-easy monetary policy has been a major cause of rising corporate profits and a broader recovery, says Black Rock Chief Equity Strategist Bob Doll. The Fed has also helped bring about the decline in the dollar, boosting exports.

U.S. economy is doing better than headlines suggest, he says.

Product includes portfolios managed like institutional and endowment funds.

Thomas Phillips has been registered with Wells Fargo Advisors since April 29.

William McKenna is the latest of a series of additions to UBS’ advisor ranks, having become registered with the firm on April 28.

Allianz Life Insurance Co., the largest annuity provider in the U.S. with more than $2 billion in sales last year, this week announced a strategic partnership with seven broker-dealers that will add its Allianz Retirement ProSM variable annuity to their advisory platforms.