Special Program Root Tag

As a further sign that the mutual fund industry and broader asset management business and economy are gaining strength, the financial industry netted 4,000 new jobs in December. This was the first time since July 2007 that there has been job creation, according to the Bureau of Labor Statistics.

Last year was the worst year on record for dividends as more companies slashed their dividends than ever before, according to Standard & Poor’s.

Hedge funds had their best year last year since 1999, according to the Hennessee Group, a hedge fund advisory firm.

WisdomTree Investments has introduced the WisdomTree International Hedge Equity Fund, an exchange-traded fund-of-fund.

Eighty percent of fund managers expect the stock market to continue to rise in 2010, fueled by real corporate earnings growth, rather than aggressive cost-cutting, Russell Investments found.

Seventy-three percent of 3,000 people that the Investment Company Institute polled said they are confident they will be able to retire, thanks to their 401(k) savings, and 90% gave a thumbs-up on the plans, citing their tax advantages, convenient payroll deductions, choices, control and the financial discipline they instill.

Long-term mutual funds took in $3.5 billion in the week ended Dec. 29, marking the 42nd straight week for positive inflows, which now top $416 billion, the Investment Company Institute said.

TD Ameritrade has unveiled a series of tools and resources to help investors better understand how the 2010 Roth IRA modifications might affect their retirement benefits.

With the economy still on life support and inflation an increasing threat, the Federal Reserve will continue to act like a “sugar daddy” and leave interest rates untouched until 2011, predicts PIMCO Co-Chief Investment Officer and founder Bill Gross.

Charles Schwab Corp. announced Thursday that it plans to reduce its online equity trade commissions and add new products in an effort to gather customers and assets.

Baron Funds has debuted the Baron Real Estate Fund, a fund that will invest directly in real estate as well as such real estate-related companies as management companies, building products, home furnishings, construction and engineering and infrastructure. The fund even has license to invest in hospitals and correctional facilities and up to 25% of its assets in securities of foreign issuers not publicly traded in the U.S.

Interactive Data has committed to serve as Foundation Partner for Mutual Funds Against Cancer for 2010, the third year it has lent its support.

Employers that automatically enroll their workers in 401(k) plans tend to match their employees’ savings at a lower level than other employers, according to a report from the Center for Retirement Research at Boston College.

Janus Capital has selected Richard M. Weil, the former chief operating officer of PIMCO, as chief executive officer.

With more wealth managers pursuing succession plans, and mergers becoming more attractive for facilitating growth and value, there should be a significant uptick in M&A activity in 2010, according to a report from M&A consultants Echelon Partners.

In a survey of 1,000 people, Putnam Investments found the majority expect the economy to rebound in 2010 but that they are still planning to save more in the New Year.

AQR Capital Management has launched the AQR Managed Futures Strategy Fund to appeal to investors’ and advisers’ increased interest in alternative investments in the wake of the Great Recession. AQR funded the no-load fund, available to retail and institutional investors, with $10 million in seed money.

Bob Doll, global chief investment officer for fundamental equities at BlackRock, said U.S. corporate earnings growth—fueled by productivity gains, expanding markets in the developing world, low inflation and a declining dollar—should jump about 20% this year. As a result, stock prices, as represented on the Standard & Poor’s 500, should rally another 12% from their Jan. 4 open of 1116.56, he said.

Real estate investment trusts are, once again, seeking retail investors, in spite of their lower dividends and higher volatility. During the market downturn, the only takers seemed to be institutions, which currently comprise 80% of the owners of REITs. Ten years ago, institutional investors held 40% of all REIT shares.

Vanguard will pay $300,000 to settle a lawsuit filed by the U.S. Equal Employment Opportunity Commission accusing it of racial bias against a black financial planning candidate and overall bias in its hiring practices.