Mutual funds

Morningstar has started publishing credit ratings for about 100 of the largest U.S. companies. Over the next year, it plans to produce credit ratings for up to 1,000 companies currently covered by its equity analyst team. The ratings are available for free for institutional equity research clients at its website.

Matthews International Capital Management has launched the Matthews China Dividend Fund, a mutual fund that will invest exclusively in dividend-paying stocks and convertible securities of Chinese companies that are well-positioned to grow future dividends.

OppenheimerFunds Retirement Services announced new resources Wednesday to help 401(k) plan participants, sponsors and advisers navigate difficult market cycles and a constantly evolving marketplace.

A majority of brokers and advisers support and understand key elements of the fiduciary standard, a survey of nearly 900 professionals by SEI Investments found. Eighty-six percent of advisers and 53% of brokers agree with the statement that, “All financial professionals who give investment and financial advice should be required to meet the fiduciary standard.”

John Hancock Retirement Plan Services launched an enhanced website for financial representatives to help them support clients and grow their business. The site has improved navigation, updated materials and tools for creating reports for prospects and clients. The site also makes it easy for advisers to compare and contract Hancock investment options.

Five Canadian investors have filed a class-action lawsuit in Ontario Superior Court against five mutual fund companies that settled over market-timing, claiming they are owed hundreds of millions of dollars in additional damages. The five investment firms—IG Investment Management, CI Investments, Franklin Templeton, AGF Investments and AIC—settled with regulators for a total of $205.6 million in restitution.

The Spectrem Millionaire Investor Confidence Index rose five points in November to minus 10, putting it in neutral territory for the first time in nearly two years. Likewise, the Spectrem Affluent Investor Confidence Index, measuring the investment confidence of households with $500,000 or more investable assets, advanced three points to minus four, also bringing it back into neutral territory for the first time in two years.

Between the market rally and 401(k) investors’ steady contributions, balances are higher than what they were before the financial crisis hit, according to a Vanguard report, “Recovery in 401(k) Balances,” based on an analysis of the 1.7 million investors that Vanguard serves. What’s more, despite the intense scrutiny on target-date funds, some of which dramatically lagged their benchmarks in 2008, portfolios invested solely in target-date funds did better than others.

Americans are becoming more realistic about retirement, with 40% of older Baby Boomers currently eligible for Social Security now planning to work a few more years to increase their savings and reach higher Social Security payout thresholds, Charles Schwab’s quarterly retirement pulse survey found.

The Eighth Circuit Court of Appeals has reversed the dismissal of Jeremy Braden v. Wal-Mart Stores by the District Court for the Western District of Missouri.

Fidelity Investments has promoted Jacques Perold from chief operating officer of its asset management unit to chief of the $1.4 trillion division. Meanwhile, Michael Wilens, the former head, has moved over to the retirement unit as head of client management, reporting to Abigail Johnson, head.

Increasingly positive media coverage of consumer spending boosted the Dow Jones Economic Sentiment Indicator to 38.3 in November, up 1.4 points from a reading of 36.9 in October.

Forty percent of employers surveyed by the International Foundation of Employee Benefit Plans said they believe the worst of the economic crisis is over. Twenty-seven percent said they did not think we are out of the woods, and 33% were neutral.

Putnam Investments is counting on its client servicing capabilities to help transform its defined contribution business into an industry leader, according to the head of that business.

Citing modest improvement in the economy and shipping volumes, Federal Express will resume its matches to employees’ 401(k) plans and resume merit pay increases up to 2%, starting Jan. 1.

U.S. District Court Judge Paul Gardephe ordered Reserve Funds to repay the remaining $3.5 billion remaining in the Primary Fund, minus the $83.5 million the company is setting aside for legal expenses, to investors. The money will be paid on a pro rata basis.

Wirehouse advisors are increasingly shunning separate account programs in which securities are directly held in favor of other types of managed accounts that use mutual funds, exchange-traded funds, annuities or other professionally managed securities because they find the latter gives them more flexibility to control their clients' assets, according to a new report from Cerulli Associates.

Dumas, Leeson, Doucet Join Putnam DC Team

DOL Drops Controversial Advice Rule

NEW YORK - Investors and money managers looking to diversify their portfolios by getting into commodities and commodity exchange-traded funds should keep in mind the volatile nature of these products, as well as the wide range of possible risks, experts say.