Mutual funds

Eighty-three percent of the 60 institutional managers that Northern Trust surveyed expect corporate earnings to increase in the third quarter, and 84% expect the world economy to improve.

The pace at which the Internet continues to affect communications is nothing short of dramatic. Nearly every type of information is now instantaneously accessible, downloadable and hyperlinked. As we adapt to absorbing ever greater volumes of information, and to the rapid rate at which it comes at us, our preferences as consumers of information are changing.

Edward Bernard to Chair ICI's Board of Governors

Workers who had already been investing in their 401(k) for at least five years through 2008 saw their balances drop an average of 24% last year, compared with the S&P 500's sharp 37% decline, the Investment Company Institute and the Employee Benefit Research Institute said.

Crisis Has Not Prompted Mutual Funds, Other Institutional Investors to Change Portfolios

BOSTON - As tax experts at mutual fund companies hurry to prepare their fund accounting systems before newly mandated changes to federal cost-basis reporting rules take effect, they are finding they could use a little help and guidance from the government.

In 2007, Philip Moses, a Raymond James adviser at First Federal Bank of Florida in Lake City, had a local physician as a client who wanted to diversify his $1.5 million portfolio.

As exchange-traded funds continue to grow in scope and popularity, investment experts warn that some products, such as leveraged and inverse ETFs, may be too dangerous for all but the most experienced hands.

A new report from Morningstar slams actively managed funds not only on performance but also on risk and style. The research firm found that only about 50% of funds have outperformed their benchmark indexes over the past three, five and 10 years and only 37% did so on a risk-, size- and style-adjusted basis.

Long-term mutual funds netted $4.94 billion in the week ended Sept. 30, marking the 29th straight week of inflows now nearing $305 billion, the Investment Company Institute said.

Putnam Investments has promoted two executives within its global distribution team, naming Joseph T. Phoenix and Catherine A. Saunders head of registered investment advisor business. Both have been with the company for more than 20 years. The two will continue to report to William T. Connolly, head of global distribution.

Just as many investors overreacted to the market on the way down, they need to keep a level head and not load up on too much stock in the current market rally, Vanguard is reminding investors in an online message from Chief Investment Officer Gus Sauter.

The mutual fund advertising rule that the Financial Industry Regulatory Authority imposed in April 2007 that requires ads to contain fee information if they are also going to tout performance appears to be for naught.

Americans are redefining retirement, with 75% now saying they intend to work as long as they can, Bankrate found in a survey of 1,003 adults 18 or older.

While the average U.S. stock fund rose 16.6% the average international stock fund rose 17.4% in the third quarter, the two best-performing categories were Latin American funds (up 26%) and global real estate funds (up 23.2%), according to data from Morningstar.

U.S. Bancorp has acquired the fund administration and account division of Fiduciary Management. The unit has more than $8 billion in assets under administration, while the remaining investment management business of the company as $6 billion in assets under management.

Workers who had already been investing in their 401(k) for at least five years through 2008 saw their balances drop an average of 24% last year, compared with the S&P 500’s sharp 37% decline, the Investment Company Institute and the Employee Benefit Research Institute said.

Advisers are seeking new tools and products that will complement the strategies they now have in place for retirement income planning, instead of replacing them, according to new research from Cerulli Associates.

Edward Bernard, vice chairman of T. Rowe Price, is replacing John Murphy, chairman of Oppenheimer Funds, as chairman of the board of governors at the Investment Company Institute.

Sallie Krawcheck, the recently installed head of wealth management at Bank of America/Merrill Lynch, said that the road ahead would not be easy for the few large brokerage firms left.