Special Program Root Tag

The Securities and Exchange Commission and the Connecticut banking commission have sued a Connecticut hedge fund manager with fraud.

With more than $23 trillion in assets under management, pension funds represent the largest asset class in the global financial marketplace. Managing this massive amount is the responsibility of pension plan sponsors who, supported by investment managers and other service providers, are charged with delivering results to plan participants within an ever-changing and ever-challenging economic environment.

If the Securities and Exchange Commission had systematically documented numerous complaints about Bernard Madoff made over 10 years by financial analyst Harry Markopolos, who argued that Madoff's returns were mathematically impossible; known that two of SEC offices were independently investigating Madoff, unbeknownst to one another; and heeded the advice of one of its own examiners five years before the $18 billion scandal came to light-it might have seen the bigger picture and stopped Madoff in his tracks.

NEW YORK- Growth in emerging markets has the potential to outpace the U.S. Baby Boomer explosion by 25 times, and as consumption and infrastructure in these nations builds, specialized emerging market exchange-traded funds will become increasingly viable, said Robert Lutts, president and chief investment officer of Cabot Money Management. That even means sector- and style-specific ETFs, Lutts said, as well as diversified emerging markets blend funds, added Paul Weisbruch, vice president of ETF and options sales and trading at Street One Financial.

Affiliated Managers Group has selected Sean Healey, the Boston-based company's president and chief executive officer, to succeed William Nutt as chairman at the beginning of next year. Nutt will remain on the company's board of directors.

Strategic Insight, FUSE Research

The investment and alternative fund industries in Europe have long been considered the last virgin territory for processing transactions digitally, straight through from order to settlement.

The combined assets of the nation’s mutual funds increased by $486.2 billion, or 4.5%, to $11.267 trillion in September, as investors continued to add to long-term bond funds and pull money out of stock and money market funds, the Investment Company Institute said Thursday.

Fidelity Investments reported a 20% increase over the past three years in the number of participants in its tax-exempt workplace savings plans at higher education, healthcare and other not-for-profit institutions.

Seventy-five percent of corporate financial executives will wait until International Financial Reporting Standards are mandated as the standard for filing financial reports before switching from U.S. generally accepted accounting principles, even if the Securities and Exchange Commission permits early adoption.

Although 78% of chief financial officers think the economy might not recover for another two years, 39% are planning to increase their capital investments in 2011, mostly on new technology.

One of the benefits of the recession is that the constant coverage of the economy has brought retirement savings and retirement benefits into better focus for many Americans, The Hartford Financial Services Group found in a survey of 1,000 adults, conducted by Zeldis Research.

Franklin Resources managed to deliver a slight increase in profits for its fiscal fourth quarter ended Sept. 30. Profits rose 1.5% to $372.9 million, or $1.65 a share, from $367.4 million, or $1.59 a share, in the fourth quarter of fiscal 2009.

After making all the right moves to prepare for retirement, high-net-worth individuals could still dilute their quality of life if they skip buying inflation-indexed annuities with their retirement assets, according to a study released by the National Retirement Risk Index at the Center for Retirement Research at Boston College.

Cash management is one of the strongest growth areas for Bank of America Merrill Lynch’s advisers, Sallie Krawcheck, president of Bank of America Global Wealth and Investment Management, said during a conference call Thursday.

DST Systems reported net income of $54.3 million, or $1.16 per diluted share, in the third quarter of 2010, a 10.8% decline from the $60.9 million, or $1.21 per diluted share, it earned in the third quarter of 2009.

Long-term funds took in $9.52 billion for the week ended Oct. 20, the Investment Company Institute said. This marks the second week in a row that stock funds have netted inflows and the seventh consecutive week that long-term funds have had inflows, now totaling $41 billion.

Morningstar reported it earned $20.8 million in the third quarter, or 41 cents a diluted share, a 7.5% decrease from the $22.5 million, or 45 cents a diluted share, it earned in the third quarter of 2009.

Windham Capital Management LLC announced Wednesday it has opened a new office in Boston’s John Hancock Tower to house the company’s expanded wealth management services.

Average balances in 529 college savings plans fall far short of projected higher education costs in most situations, according to Morningstar’s latest research paper and industry survey, released on Monday.