Investments

In case you hadn't noticed, the world is getting more complex.

Ask recruiter Michael Castine about the state of mutual fund hiring now, and he brings up the Brad Pitt movie "Moneyball."

There’s too much bullish bias and herd mentality among financial advisors who fear losing their jobs when they should be focused on long-term returns, value manager Jeremy Grantham says.

On June 22, 2012, Total money market mutual fund assets decreased by $20.86 billion to $2.533 trillion for the week ended Wednesday, June 20, according to data from the Investment Company.

Gus Sauter, managing director and chief investment officer of Vanguard, will retire from the firm at the end of the year. Mortimer J. “Tim” Buckley, a managing director, will succeed him.

On June 22 ,2012, George U. "Gus" Sauter, managing director and chief investment officer of Vanguard, today announced his plans to retire, effective December 31.

On June 22, 2012, AllianceBernstein re-upped CEO Peter S. Kraus’ contract for another five years, starting in January 2014, when his existing contract expires.

On June 22, 2012, Wheaton, Ill.-based First Trust Advisors L.P. has rolled out a new actively managed exchange-traded fund, First Trust North American Energy Infrastructure Fund (NYSE Arca: EMLP) to bet on the energy infrastructure sector via master limited partnerships, pipeline companies and utilities.

When it comes to ETFs, advisors “need to look under the hood,” ETF expert Eric Biegeleisen said during a session at the Morningstar Investment Conference. “You have to understand why every stock and bond is in there.”

Securities and Exchange Commission Chairman Mary Schapiro answered Paul Scott Stevens’ volley with one of her own in front of the Committee on Banking, Housing, and Urban Affairs of the United States Senate.

Columbia Management launched the Columbia Risk Allocation Fund (CRAAX).

The tax-exempt money market sector saw a moderate decrease in cash in the week ended June 18 as $801.2 million exited the funds and total net assets settled at $271.40 billion, according to the Money Fund Report, a service of iMoneyNet.com.

Muni bond indexes were mixed on the week as the need to put truckloads of reinvestment money to work pushed investors to buy munis even while yields sat at barrel-scraping levels

On June 22, 2012, Columbia Management this week launched the Columbia Risk Allocation Fund (CRAAX).

The Dow Jones Industrial Average tumbled 250.82 points Thursday to finish at 12,573.57 while the Nasdaq and S&P 500 fell 71.36 points and 30.18 points, respectively.

On June 21, 2012, Gary Motyl, former chief investment officer of Templeton Global Equity Group and president of Templeton Investment Counsel, LLC, died suddenly on June 18, reports the Miami Herald.

Unlike funds that target clean tech or alternative energy, the new ETF will focus on a broader universe of companies that have the goal of making money.

“Investors seem to equate investing with gambling,” said George C.W. Gatch of J.P. Morgan Asset Management, and they “have begun to doubt the power of diversification.”

On June 21, 2012, Securities and Exchange Commission Chairman Mary Schapiro today answered Paul Scott Stevens’ volley with one of her own in front of the Committee on Banking, Housing, and Urban Affairs of the United States Senate.

The Chinese gambling industry, the U.S. housing market and banking companies’ corporate debt are among growth areas in a difficult investment environment, a panel of money managers said at the Morningstar Investment Conference.