Investment products

Tax-exempt money market funds gave up the inflows they accumulated last week — and then some — when they lost $1.45 billion and total net assets dropped to $272.20 billion in the week ended June 11, according to the Money Fund Report, a service of iMoneyNet.com.

The Dow Jones Industrial Average stormed up 155.53 points Thursday to close at 12,651.91 while the Nasdaq and S&P 500 added 17.72 points and 14.22 points, respectively.

Although they can’t see customers’ held-away investments, three quarters of financial advisors give advice about these assets anyway.

The Dow Jones Industrial Average shed 77.42 points to close at 12,496.38 Wednesday while the Nasdaq and S&P 500 lopped off 24.46 points and 9.30 points, respectively.

For the week ended June 6, investors withdrew an estimated $1.37 billion from long-term mutual funds of all types, the third largest outflow this year.

401(k) auto enrollment has been all the buzz in retirement planning, and now it seems even more effective than expected.

The Dow Jones Industrial Average rallied up 162.57 points Tuesday to close at 12,573.80 while the Nasdaq and S&P 500 surged up 33.34 points and 15.25 points, respectively.

Neuberger Berman Group this week launched the Neuberger Berman Absolute Return Multi-Manager Fund (NABAX), which bets on a slate of hedge fund managers.

S&P Capital IQ this week unveiled its Global Markets Intelligence group, a new advisory business that provides risk-based non-discretionary equity, fixed income portfolio strategies, asset allocation, and fund review services to asset managers.

Mutual funds that invest in alternative types of securities, ranging from commodities to private equity investments, have been hot. But the heat appears to be cooling off.

The Dow Jones Industrial Average fell 143 points to finish at 12,411.23 Monday as investors reacted to more uncertainty in Europe and signs that overall global economic growth continues to slow.

Financial advisors who use a technology that enables them to automate portfolio rebalancing for their clients can shave the process down from 350 hours annually to 100 hours, according to new research released by CEB TowerGroup.

Income annuity sales in the first quarter climbed almost 23% to $2.16 billion from $1.75 billion a year ago. Indexed annuities, meanwhile, increased nearly 9% hitting $8.16 billion.

The tax-exempt market struggled throughout the week under the weight of heavy new issuance as yields jumped double digits.

The hunt is on for yield in the municipal market as interest rates continue to hover around historical lows, forcing investors to use varying strategies to boost returns.

The Dow Jones Industrial Average moved up 93.24 points to close at 12,554.20 Friday while the Nasdaq and S&P 500 gained 27.40 points and 10.67 points, respectively.

Customization has proved to catapult hedge fund of funds into the institutional limelight of late for many small pension and endowment plan sponsors. However, asset size and back office capabilities are still major determinants on whether the inherit fees are worth the worries of commitment to the alternatives vehicle.

June arrived on a positive note for tax-exempt money market funds, which accumulated $1.19 billion in new cash while total net assets rose to $273.64 billion in the week ended June 4, according to the Money Fund Report, a service of iMoneyNet.com.

The tax-exempt market may have experienced a sizable backup in yields on the week, but muni bond mutual funds still saw robust inflows.

A majority of advisors surveyed are willing to recommend sustainable investments, formerly known as socially responsible investments, making the potential markets as big as $650 billion, according to a survey by the Calvert Foundation.