Mutual funds

Chief executives are feeling optimistic about the U.S. economy over the next 12 months for the first time since the second quarter of 2007, with CEOs of private companies with international operations being slightly more optimistic than those that are only domestic.

A total of 102 funds of hedge funds closed in the first quarter, the seventh quarter in a row that fund liquidations exceeded new launches, according to Hedge Fund Research’s HFR Market Microstructure Industry Report.

Don's Miss Money Management Executive's JPMorgan News in This Week's Issue: http://www.mmexecutive.com/issues/18_23/jpmorgan-beefs-up-bond-fund-business-207063-1.html

BB&T Corp.'s mutual fund family has had a dramatic gain in assets over the past year, and the bank's asset management arm is laying the groundwork for more expansion.

Morgan Stanley Smith Barney’s battle with Merrill Lynch is heating up as both firms sweeten their recruitment packages.

WASHINGTON — Senate Banking Committee Chairman Chris Dodd Wednesday endorsed a proposal to force banks to spin off their derivatives desks, saying Sen. Blanche Lincoln's primary win this week had increased odds some form of it would be in the final regulatory reform bill.

The Securities and Exchange Commission is preparing a concept release on proxy firms and their OBO/NOBO (“non-objecting beneficial owners”) systems, Chairman Mary Schapiro recently told the Business Roundtable. The SEC aims to revise the proxy access rule by 2011.

The battle between Morgan Stanley Smith Barney and Merrill Lynch is heating up as both firms sweeten their recruitment packages, recruiters say.

Morgan Stanley denied the widely circulated news report Tuesday morning that it planned to cut 300 branches and 1,200 jobs.

Potential scenario of many years of rising interest rates will devalue long-term bonds—and open investors’ and advisors’ eyes to fixed income risk.

WASHINGTON — With lawmakers intent on sending a final regulatory reform bill to President Obama by July 4, much of the legwork is already happening behind the scenes on how to tackle a host of unresolved issues, including a proposed swaps ban, a stringent capital requirement, interchange fee regulation and a consumer protection agency.

Vercie Lark has joined DST Systems as chief information officer, overseeing the company’s enterprise information technology and data center operations.

As Loomis, Sayles Vice Chairman Dan Fuss told MME last month: “When interest rates eventually rise, it will become our entire focus. I’ve prepared for this well in advance “(see “Fuss: Interest Rate Policy Will Shape Recovery,” MME 5/3/2010).

One of the great aftershocks felt in the wake of the financial meltdown has been a fairly loud drumbeat against Harry Markowitz’s modern portfolio theory.

An "empowered investor base" insisting on more transparency and liquidity from managers, as well as absolute returns and uncorrelated investment strategies, has led to a spike in demand for alternative mutual funds, a report concluded.

JPMorgan, consistently one of the top municipal bond underwriters, has been responding to increased appetite in the market recently by expanding its retail networks, marketing taxable munis for international distribution, and bulking up its public finance staff.

IRS Probes 401(k) Compliance

LPL, the largest independent broke/-dealer, filed S-1 forms with the Securities Exchange Commission Friday to become a public corporation.

If your clients want to invest globally, and according to their Catholic values, you now have one more option to offer.

Outflows were a mere $156.7 million the week before.