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Columbia Management has launched the Columbia Flexible Capital Income Fund, which seeks to provide income generation and capital appreciation.

Fidelity Investments has promoted Derek L. Young from chief investment officer to president of the asset allocation division. He succeeds Boyce L. Greer, who recently became head of institutional investments for Fidelity Asset Management and vice chairman of Pyramis Global Advisors. Young now reports to Greer.

Despite arguments that retirees should be exposed to equities in order to bring enough growth in their portfolios to last throughout their retirement, Morningstar’s president of the investment management division, Peng Chen, argues in a new article that retirement portfolios must include a conservative bent that includes longevity-insurance products.

Private equity firm Warburg Pincus has acquired a majority stake in The Mutual Fund Store as well as a minority stake in Summit Partners, which invested in The Mutual Fund Store in 2006.

Janus has launched the Janus Asia Equity Fund, which aims to deliver long-term growth by investing in both developed and emerging markets in Asia, ex-Japan.

The Securities and Exchange Commission is considering requiring money market funds to set aside 1% to 3% of their assets and lifting the $1 net asset value, sources with knowledge of the discussions told Bloomberg News. The SEC may require any fund that did not set aside the capital buffer to revert to a floating NAV within 60 days.

The Securities and Exchange Commission voted unanimously Tuesday to require large traders to register and to share more information. The rule, yet another measure in response to the Flash Crash of May 2010, will take effect in 60 days, with traders given an additional two months to begin registering.

No one wants the kind of panic that nearly ensued when the Reserve Primary Fund broke the buck on Sept. 15, 2008. In the three days following, there was a near-run on money market funds, with $169 billion in redemptions.

European hedge fund advisors will soon be faced with the same challenges-and requirements-as their U.S. peers.

idelity Investments has named Scott Couto as the new president of its Financial Advisor Solutions unit, where he will oversee the firm's product suite, investment consulting services, product analysis and marketing endeavors.

Digital campaigns, mobile ads and social media are getting all the attention from marketers, these days. And are clearly the wave of the future for communicating with customers.

For the past 18 years, it's been almost an article of faith that an exchange-traded fund would be the epitome of a passive investment.

Whoever said, "There's no such thing as bad publicity," clearly missed the financial industry's public relations nightmare of the last few years.

Is the U.S. Already in a Double-Dip Recession?By Dave LindorffJuly 29, 2011Hold on to your hat. We may be headed for a double-dip recession. In fact, when more current economic data arrives a few months from now, it may turn out that we’re already in one, according to a pair of economists at Moody's Capital Markets Research Group. Like what you see? Click here to sign up for Financial Planning's daily newsletter to get the latest on advisor market trends, investment management, retirement planning, practice management, technology, compliance and new product development.“We are in a very perilous situation,” Moody’s Chief Economist John Lonski told On Wall Street in an interview Friday. "What scares me is that, because of the weakened condition of the federal government, there is less confidence in the philosophy of 'too big to fail'-- the idea that the government will come in and back up any financial company that runs into trouble -- so in case of a renewed recession, you could see a contraction of financial liquidity that could be even more serious than what caused the collapse of Lehman Brothers," he said.Lonski and his colleague at Moody’s Capital Markets Research Group, economist Ben Garber, just released a new report titled “Double Dip Risk Rises as DC Standoff Continues,” in which they warn, “The U.S. may be closer to a double-dip recession than commonly thought.”They note that the U.S. economy “continues to soften,” and said that evidence of a recovery in the second half of this year is “proving elusive.” And that’s “assuming a reasonable resolution of the debt standoff” between Republicans and Democrats in Washington and, increasingly, even among Republicans themselves."Even with a market-friendly resolution of the debt standoff, a double-dip recession is far from unlikely," they wrote in the report.As the Moody’s report was released, so too was new and pretty gloomy data from the U.S. Commerce Department. The new government data show that growth in the last quarter of 2010 was actually running at an anemic 2.3% annual rate, not the more robust 3.1% rate initially reported.Annualized growth rates for the first and second quarters of this year were also revised downward to 0.4% and 1.3% respectively. As Ryan Sweet, a senior economist at Moody’s Analytics put it, “The economy essentially came to a grinding halt in the first half of the year.”Lonski and Garber said that at present it is hard to find any good news, with regional manufacturing statistics “hinting of stagnation” and the housing market still unable to “find a bottom.”They also note that the Chicago Federal Reserve’s National Activity Index (CFNAI), in its latest three month moving average for the last quarter, registered -0.60. They warn that in five of the last nine times the CFNAI fell to this low level “recession was often impending, or was already present."Furthermore, they said that the U.S. cannot expect much help this time from the rest of the world, which is also experiencing a slowdown in growth -- though not as severe as the U.S.A big concern among many economists is that politicians in Washington, focused as they are now in both parties on cutting the budget deficit, could make things worse. Noting that Britain’s new Conservative Party-led government responded to a debt downgrade warning by slashing domestic spending and bringing on a double-dip recession, Lonski says, “Even [Fed Chairman] Ben Bernanke has said it’s very important not to bring on budget cuts until we can be reasonably certain that the U.S. economy is self-sustaining.”Many politicians these days, in what Lonski said is “political theater,” are calling for immediate cuts in social spending programs like Social Security, Medicaid, welfare and education -- among others -- but he said, “the problem with the U.S. budget is not what is being spent now, but what will be required when the Baby Boom population is all in retirement.”The irony, he noted, is that if government inaction on raising the debt ceiling, or on overly-aggressive near-term budget cutting, helped usher in a double-dip recession, it would have the perverse effect of worsening the debt as tax receipts would plunge.

'Clear Path' Needed on Deficit Reduction, BlackRock SaysPrinter Friendly Email Reprints Reader Comments Share | August 1, 2011Tom Steinert-ThrelkeldBlackRock, the large investment manager, said that the benefit of a debt limit deal will only be borne out if investors “see a clear path toward deficit reduction that encourages confidence in the U.S. dollar.’’Like what you see? Click here to sign up for Securities Technology Monitor's weekly newsletter to get the latest news and analysis that matters to the effective operation of capital markets.The manager of $3.6 trillion in assets for institutional and individual investors around the world said it was “encouraged by momentum” to raise the debt celing and cut the federal deficit.But it said, in a formal statement:“The precise composition and timing of any spending cuts will determine whether this proposal produces a real and significant reduction in the deficit. Avoiding default by the U.S. government is of paramount importance, but investors also need to see a clear path toward deficit reduction that encourages confidence in the U.S. dollar.“This is essential if we are to maintain America's AAA rating and encourage long-term investment in the U.S.”“America cannot afford further delay. With the U.S. economy continuing to show weakness, every day of delay in resolving this situation will erode economic growth, jeopardize job creation and undermine the credibility of the United States in global financial markets.BlackRock operates in 26 countries in North and South America, Europe, Asia, Australia and the Middle East and Africa.The BlackRock assessment comes after a weekend of brinksmanship that resulted in a debt limit deal before securities markets opened worldwide on Monday. Here’s The Hill’s summary:Congress and President Obama have a deal on raising the debt ceiling but the timing of the agreement, made late Sunday evening, leaves lawmakers on a tight schedule to get it passed in order to avoid a default.

The deal cuts spending by close to $1 trillion immediately and mandates a 12-member joint committee to create additional ways to reduce the deficit by at least $1.5 trillion over the next ten years. The committee must report its findings by late November. The package does not contain any tax increases.Additionally, Obama would get a second debt limit hike of up to $1.5 trillion if Congress either sends a balanced-budget amendment to the states before the end of the year or if the joint committee finds more savings and cuts.A vote on the deal is expected to take place Monday, though an exact time is yet to be announced.If you look further into the week ahead, you’ll find the debt deal also was something of a birthday present for President Obama. He turns 50 on Thursday.BlackRock, the large investment manager, said that the benefit of a debt limit deal will only be borne out if investors “see a clear path toward deficit reduction that encourages confidence in the U.S. dollar.’’

An overnight poll of 1,000 affluent Americans conducted Thursday evening by UBS Wealth Management Americas found that 40% are waiting out a resolution on the debt ceiling before putting any more money in the markets.

Commenting on Friday’s news from the U.S. Bureau of Economic Analysis that the economy grew an anemic 1.3% in the second quarter, The Conference Board said that from a business cycle perspective, there still aren’t signs that the economy has re-entered a recession. However, the business research organization does not expect GDP to grow more than 2% in the remaining half of the year.

OppenheimerFunds is paying $100 million to settle a class-action lawsuit against two of its funds, the Oppenheimer Champion and the Oppenheimer Core Bond funds

As the nation reaches the Aug. 2 deadline to raise the debt ceiling, Fidelity Investments is telling investors not to panic-sell out of stock and bond funds, and to have confidence in money market funds, which have been safeguarded and have complied with stricter holding rules for the past year.

Putnam Investments is becoming a key sponsor for Gillette Stadium, home of the New England Patriots football team, replacing Fidelity Investments. As part of the deal, Putnam’s name will replace Fidelity’s on two 3,000-seat luxury clubhouses, the roadway leading in, the entrance and a parking lot. As a result, “Fidelity Way” will become “Putnam Parkway” and the stadiums will be called the “Putnam Club.”