Fund performance

Janus’ third-quarter net income rose 296% to $32.5 million, or 18 cents per diluted share, up from $8.2 million, or 5 cents per diluted share, in the third quarter of 2009.

Northern Trust reported third-quarter profits of $155.6 million, a 17% decrease from the $187.9 million earned in the third quarter of 2009 and a 22% decrease from the $199.6 million earned in the second quarter of 2010.

Expect moderate growth of 2%, led a gradual rise in consumer spending, private-sector investment and more spending by the federal government, at least until the 2011 tax season. That’s what Wells Fargo’s economic group is predicting for the near future of what it describes as a fairly boring recovery.

Institutional investors’ outlook for global growth improved in the third quarter, with more than two-thirds, 68%, saying a double-dip recession is unlikely, a survey of 83 managers by Northern Trust Global Advisors found.

Investors’ outlook is cautiously optimistic, with nearly half expecting gains in the year ahead despite their concerns over the sluggish economy, Scottrade found in a survey.

The State Street Investor Confidence Index reading of the outlook of institutional investors showed a four-point decline in September to 88, down from 92 in August. In North America, the drop was more pronounced; the confidence level fell 7.3 points to 87.9 from August’s reading of 95.2.

In its latest global outlook, Barclays Capital said there is little chance for a double-dip recession and the recent economic slowdown is typical four-to-six quarters into a recovery.

Standard & Poor’s has launched a new U.S. Mutual Fund Excellence Awards program to recognize those funds that consistently achieve the highest ranking in S&P’s five-star rating system.

Fifty-seven percent of money managers view the market as undervalued, Russell Investments found in its latest survey, of 170 senior-level managers. This is the second-highest percentage in survey history. Only 7% of managers believe markets are overvalued.

As a result of debt issues and fiscal deficits, BlackRock said Tuesday that it expects to economic recovery to be "meaningfully slower" in the second half of this year.

Despite declining trading activity industrywide, Charles Schwab Corp. announced Wednesday that it expects third-quarter results will be in line with the previous quarter.

The U.S. economy is on an expansionary, albeit sluggish, path—not toward a double-dip recession, says BNY Mellon Chief Economist Richard B. Hoey. In the near term, however, hold onto your hats: The “most pronounced weakness in the U.S. economy” will become apparent in the second and third quarters of this year, he says.

While it’s not back on its feet yet, the U.S. economy is proving more resilient than many naysayers predicted, according to September’s Monthly Outlook from Wells Fargo’s economics group.

U.S. small-cap equities on the Russell 2000 Index rallied to 604.87 by the market close of Aug. 25, up from the near 52-week low of 595.59 the previous day. The Aug. 24 close was only 40 points higher than the September 2, 2009 low of 555.83.

When Grail Advisors officially closes two of its active exchange-traded funds prior to the market bell on Aug. 30, the total universe of active ETFs will fall to just 28.

Independent advisors are still “somewhat conservative” in their outlook, but there are some bright spots in their expectations, according to a survey from Charles Schwab.

Confidence among high-net-worth investors tumbled in August, according to a monthly survey by Spectrem Group.

Investors are more optimistic this month about the economy than they were last month, according to a survey released on Tuesday.

While quantitative analysts may feel they are no longer taking the blame for the financial crisis, they believe their work is still “misunderstood” by top executives.

Cathe Tocher has excelled as a portfolio manager through very good times and bad. She is senior vice president of investments at Great-West Life & Annuity Insurance Co., whose five- and four-star Morningstar-rated stable-value portfolios continue to be embraced by the 401(k) marketplace.