Investments

BlackRock said it earned 35% more in this year’s first quarter, than last, helped by a “robust” pipeline of assignments for its software and technology services business.

Aided by a strong tailwind from market appreciation, Janus Capital Group reported an increase in profits in the first quarter as assets under management and revenue rose.

The Baltimore-based fund company reported a 27% increased in profits from a year earlier to $194.6 million, or 72 cents a share as net revenue rose 23% to $682.4 million.

The New York-based money manager saw profits rise 34% from a year earlier to $568 million, or $2.89 per share as assets under management increased 8.5% from a year earlier and 2.5% from the previous quarter to $3.648 trillion.

The First Command Financial Attitudes Index sinks to its lowest point in two years.

Equity funds net $834 million.

The popularity of hedge funds, particularly among institutional investors, propelled total assets under management to a record $2 trillion in the first quarter, according the latest report from Chicago-based Hedge Fund Research Inc.

Nearly half, 48%, of chief financial officers and senior comptrollers expect the economy to improve over the next six months, a marked improvement from the 30% who thought so in October, a survey of 318 executives by accounting and audit firm Grant Thornton found.

Advisors are struggling to come up with a better retirement income portfolio solution, which we believe we have found. This is not just about dividends. Inflation is a major concern long term that advisors not only need to be aware of when building retirement portfolios but must have an effective portfolio management solution.

The popularity of hedge funds, particularly among institutional investors, propelled total assets under management to a record $2 trillion in the first quarter, according the latest report from Chicago-based Hedge Fund Research Inc.

Last year, total annuity sales through banks declined 25% from the prior year, which itself was down 18% from the year before that, according to Kehrer-LIMRA. Yet newly release data from the Michael White-ABIA Bank Annuity Fee Income Report shows that income from annuities was down just 1.8%.

Rep. John Tierney, D-Mass., plans to soon introduce a bill that would require all new munis to be taxable direct-pay bonds with a 25% federal subsidy rate — a proposal drawing a frosty reception from issuers and underwriters.

State Street’s top executive says the Boston-based company wants to continue to “fortify the foundation” without losing sight of opportunities for further growth.“I look back over the last couple of years, and in spite of what looks like a recovered market there is still a lot of instability,” Jay Hooley, State Street’s chief executive officer said in an interview on Tuesday. “We want to be sure our foundation is solid in terms of capital and risk management and make sure we have returned to basics in terms of our core asset servicing and asset management businesses, but also we want to be sure we are investing in enhancing our product capabilities. Our focus is really the whole package.”

ETFs attracted $41.4 billion in net new assets in the first quarter, more than double the first quarter of 2010.

KeyBanc Capital Markets doubled its personnel last month by hiring four professionals from Chapdelaine Credit Partners, a bond broker that closed in January.

Early indications are that March will follow suit, according to Kehrer-LIMRA.

SiVest Group, investment advisor to the Firsthand Funds, has launched the Firsthand Technology Value Fund, a closed-end, publicly traded fund.

The Web-based analytical tool allows advisors to compare more than 10,000 mutual funds and ETFs in 60 different categories and formats to help them pick and choose the products that will best meet their clients' individual investment needs.

The purpose of the institute is to provide in-depth investment insights to clients.

Six days after the Securities and Exchange Commission holds a roundtable discussion regarding money market funds and systemic risk, the Investment Company Institute (ICI) will host its own one-day money market fund summit.