Investments

Aided by a surge in assets under management, State Street Corp. reported strong growth in profits in the fourth quarter, but executives remained conservative for 2011.

The mutual fund industry is taking issue with a House bill that would permit the Federal Reserve to step in to regulate large funds that pose “a grave threat to the financial stability or economy of the U.S.”

American consumer confidence rose sharply earlier this month to the highest level it has been at since September 2008, according to the RBC Consumer Attitudes and Spending by Household Index. In fact, the index was boosted by the largest single month gain in job expectations since the index was created eight years ago.

American consumer confidence rose sharply earlier this month to the highest level it has been at since September 2008, according to the RBC Consumer Attitudes and Spending by Household Index. In fact, the index was boosted by the largest single month gain in job expectations since the index was created eight years ago.

Given the opportunity to approach their retirement savings again, 51% of affluent Americans who have retired said they would have preferred to have focused on life goals rather than a retirement number, Merrill Lynch found in a survey. However, the remaining 49% still believe in zeroing in on the numbers.

DST Systems and Blue Frog Solutions have partnered on an annuity order management compliance solution for independent intermediaries, through DST Vision.

Last year was a record year for breakaway brokers and this year could be even stronger, according to an executive at Fidelity Investments.

New York Life Insurance has committed $100,000 in donations to the American Red Cross Disaster Relief Fund for Haiti and has pledged $150,000 in matching contributions to this and other charities serving Haiti made by both employees and agents, for a potential total donation of $400,000.

BrightScope is offering a Personal 401(k) Fee Report that will permit investors to sign up for free to see fees on 30,000 plans, how they compare to fees on comparable funds and how much money they would gain or give up over the remaining course of their working years.

After investing conservatively for the past four years, investors are beginning to put their cash reserves to work in equity investments, according to the Bank of America Merrill Lynch survey of fund managers in January.

As earnings season gets into full swing, the market hits a wall of worry … comments from JP Morgan, Gluskin Sheff, T. Rowe Price. Plus: the week’s most important numbers.

The company attracted $9 billion in net new assets in its fiscal first quarter as both retail investors and registered investment advisors increased their investments.

Despite the fact investors are more conservative after getting slammed by the recession, advisers and their clients are optimistic about the year ahead, with advisers looking to grow their business and improve their use of technology.

If the emerging absolute-return exchange-traded funds succeed in delivering outsized returns at low cost, the one-two punch to the traditional mutual fund industry could gain steam, The Wall Street Journal reports.

The time has come for mutual funds and other institutional investors to vote their proxies in favor of individual investors and truly exert their fiduciary duty, John Bogle, founder and former chief executive officer of Vanguard, writes in a Wall Street Journal editorial titled, “Restoring Faith in Financial Markets.”

In an effort to accelerate the development of its activities in emerging countries, notably Central and Eastern Europe, AXA acquired Omniasig Life. Created in 1997, Omniasig Life sells protection products, representing premiums of Euro 12 million in 2008, through a network of 1,400 agents, of which a quarter is proprietary channel.

The American Securitization Forum and the Securities Industry and Financial Markets Association have ended their six-year relationship.

Hedge funds had their best year last year since 1999, according to the Hennessee Group. The Hennessee Hedge Fund Index gained 24.6% in 2009. Equity indices also gained in 2009, with the S&P 500 up 24.7%, the Dow Jones Industrial Average up 18.8%, and the Nasdaq Composite Index gaining 43.9%. In 1999, the Hennessee Hedge Fund Index was up 30.78%.

Pioneer U.S. Sales Team Expands With Seven Hires

A new survey by the Investment Company Institute finds that most Americans are still confident that their 401(k) plans can help them reach their retirement goals, but last year's 31% average drop in account balances has also highlighted the need for improvements to this popular, critical retirement vehicle.