Investments

WASHINGTON — The recovery zone bond program would double in size to $50 billion and Build America Bonds could be used to do current refundings of existing BABs under a new tax and jobs bill released late Thursday evening by leaders of the House and Senate tax-writing committees.

U.S. Trust, Bank of America Private Wealth Management, an affiliate of the Global Wealth & Investment Management (GWIM) unit of Bank of America [BAC], announced that Grant Boyd had been named market executive in Greater Atlanta. Boyd previously worked at The Private Bank of Wells Fargo, where he was a senior vice president and private banking manager for the Southeast region. In his new role he will oversee the direction and growth of U.S. Trust’s relationships with high- and ultra-high-net worth individuals and families.

Retail investors are expecting a roller coaster ride in the stock market over the next few months making it critical to re-evaluate investment strategies and determine goals going forward.

Despite a significant decline in sales in the past years, advisors and industry executives remain upbeat about annuities because the products are expected to protect principal and provide retirement income.

The naming of Sam Peters to run Bill Miller's $4.2 billion fund is seen as yet another step in the eventual successor plan.

BOSTON -- The staggering growth of UCITS (Undertakings for Collective Investment in Transferable Securities) throughout Europe, Asia and Latin America has led to a proliferation of new investment products and trading opportunities, but restrictive investment mandates and tax requirements in the U.S. are causing some U.S. investors to feel left out of the game.

Waddell Mutual Fund Among First Flash Crash Trades

Legg Mason has named Sam Peters, 40, co-manager of Bill Miller’s $4.2 billion Value Trust fund, a move widely seen as selecting Peters to be the eventual replacement for Miller as chairman and CEO of the firm.

Alternative-investment industry could get huge break if products are approved as UCITS.

The recovery zone bond program would double in size to $50 billion and Build America Bonds could be used to do current refundings of existing BABs under a new tax and jobs bill released late Thursday evening by leaders of the House and Senate tax-writing committees.

Bill Would Extend Muni Provisions

Fixed annuities’ terrible sales figures drag down the total; VA sales remain largely flat.

BOSTON -- As finance ministers in Europe consider proposed rules to toughen the regulation and oversight of alternative-investment funds, hedge fund and private-equity fund lobbyists are hoping members of the European Parliament are still open to compromise.

Money Management Executive, a SourceMedia publication for executives in the asset management industry, today announced the winners of the 8th Annual 2010 Fund Operations Awards. The awards were presented during the National Investment Company Service Association’s General Membership Meeting in Boston.

Pax World Management is breaking more new ground by rolling out the industry’s first family of environmental, social and governance ETFs.

The Hartford Financial Services Group has seen a surge in sales of retirement plans to charitable and religious organizations prompting the insurance and wealth management company to add three faith-based investment fund families to help boost growth.

The average 401(k) plan balance at the end of the first quarter was up 40% from the year-earlier period, according to Fidelity highlights from its first quarter 2010 401(k) figures.

The SEC, FINRA and national securities exchanges are proposing individual circuit-breakers for every stock available in the U.S. They would set in if a security price moves 10% or more in a five-minute period.

Peter Adamson, 47, a well-regarded money manager who pioneered the use of hedge funds in the 1980s, family office investments in the 1990s and currently serves as billionaire Eli Broad’s chief investment officer, has landed a job with the family office Oprah Winfrey is setting up to manage her billions. Adamson is reportedly Winfrey's first hire and is seen as a coup for the media mogul, worth an estimated $2.4 billion.

"I've been everywhere and seen everything and done everything...sophisticated, God, I'm sophisticated." -- Daisy Buchanan, The Great Gatsby