Mutual funds

The Hartford has cut nearly 270 jobs in its investment products division, and more layoffs are expected, The Hartford Courant reports. The division sells variable annuities, mutual funds and retirement plans.

Despite that at 84%, the vast majority of advisers come into contact with a client with Alzheimer's disease, only 4% of the 350 advisers polled by Fidelity Investments feel they have the tools and training necessary to help those clients.

Haldeman Becomes CEO Of Freddie Mac

Capital Markets Committee Wants Mutual Fund Taxes Deferred

For anyone in a rush to snap up wealth management firms, or who thinks Wilmington Trust Corp. is poised for a buying spree, Ted T. Cecala says think again.

Firms attempting to prepare and strengthen their risk management systems in this rapidly changing regulatory landscape are finding it's a bit like trying to hit a moving target.

NEW YORK -- Most retirement planners agree that retirees should maintain some equity exposure during retirement in order to keep up with inflation and a retirement that could last three decades or longer, but what this level of exposure should be -- and whether or not the government should set some parameters -- is being widely debated.

The U.S. should adopt a Systemic Risk Council made up of top financial regulators, according to Investment Company Institute President and CEO Paul Schott Stevens, during testimony July 23 before the U.S. Senate Banking Committee.

Federated Investors reported second quarter profits of $53.3 million, or 52 cents a share, a 3% decrease from the $55.2 million, or 54 cents a share, it earned in the second quarter of 2008. It beat analysts’ consensus of 50 cents a share.

Lisa Myers, manager of the Templeton Growth Fund, told the Globe & Mail that while she is unsure whether the recent rally is a sure sign the market is turning around, she thinks there are plenty of compelling bargains, technology being one of them.

T. Rowe Price reported second quarter profits of $100 million, or 38 cents a share, down 38% from $162.2 million, or 59 cents a share, a year earlier. Revenue decreased 24% to $442.2 million.

Over the next eight months, Old Mutual will cut its lineup of 42 mutual funds by about half and eliminate 45 administrative and sales positions.

Boston’s seven biggest mutual fund companies saw a slight increase in the assets of the stock and bond funds in June, The Boston Business Journal reports.

The Financial Industry Regulatory Authority announced Thursday that it fined five bank broker/dealers $1.65 million for deficient supervision of the sale of mutual funds, variable annuities and unit investment trusts. In most of the cases, the sales were to elderly customers.

Edward Jones is no longer selling leveraged exchange-traded funds, calling them “potentially dangerous” for average investors.

Legg Mason’s Bill Miller tells investors in his latest quarterly report that a new bull market is underway and that technology and financial services stocks will lead the way out of the recession.

Flows to long-term stock and bond funds were $6.61 billion in the week ended July 15, the Investment Company Institute said.

DST Systems reported second quarter profits of $48.7 million, a 2% dip from the $49.9 million it earned in the second quarter of 2008.

MFS Investment Management said it will add analysts, relationship management executives and salespeople to its staff, as a result of strong sales this year.

Direxion has launched two leveraged real estate exchange-traded funds, the Direxion Daily Real Estate Bull 3x Shares and the Direxion Daily Real Estate Bear 3x Shares. Both attempt to deliver 300% the daily long and inverse performance of the MSCI U.S. REIT Index.