Mutual funds

Mortgage giant Fannie Mae has posted a $3.55 billion loss for the last quarter of 2007, blaming rising home loan defaults. It set aside $2 billion to cover other bad loans and warned the U.S. housing slump could get worse.

Brennan Names His Replacement at Vanguard, As McNabb Takes Helm

NICSA Names Hamacher as Weidlich's Replacement

WASHINGTON - House Financial Services Committee Chairman Barney Frank is preparing a $35 billion housing package that would expand the government's role in combating the sub-prime mortgage crisis.

MIAMI-U.S. companies are retiring the idea of the traditional, defined benefit pension plan in favor of do-it-yourself IRAs and 401(k) plans.

South Africa-based Old Mutual PLC which is better known in Europe, and in particular the U.K., hasn't exactly become a household name in the U.S. - yet. But the firm gets an "E" for effort.

After years on the back burner, the Securities and Exchange Commission's rule governing mutual fund marketing fees is in store for a "complete overhaul," according to commission chairman Christopher Cox.

A new study from Tiburon Strategic Advisors takes a broad look at consumer wealth, the pending baby boomer savings crisis and boomers' likely liquefaction of assets. Consumer Wealth, Liquefaction and the Retirement Income Challenge addresses the financial concerns and savings goals of consumers and consumer households in the U.S. today.

Freddie Mac said it will raise prices further and add underwriting restrictions for the mortgages it guarantees, because of "continued deterioration of credit quality and declining home values in most areas of the country."

In the debate over whether lenders are doing enough to stem the tide of foreclosures, there has been little in the way of comprehensive data on such efforts, but $2.2 trillion Citigroup Inc. has taken a step to shine some light in this area.

Hall Capital Names Boneparth as President

The vast majority of retirees opt against voluntarily annuitizing retirement savings. So, insurers need to better educate consumers about immediate annuity benefits.

MIAMI-As the burden of responsibility for retirement planning continues to shift toward the individual, investors should be cautious about "fast analysis" investment advice, a top financial executive told attendees at the NICSA conference here last Tuesday.

U.S. money manager Legg Mason denied market rumors this week that one of its money market funds had fallen to below $1 in net asset value, commonly known as "breaking the buck."

Hedge funds are increasingly trying to attract assets from institutional investors, and in their quest to do so more funds are implementing 130/30 strategies, traditionally a long-only product, according to Investment Dealers' Digest, IMW's sister publication.

Some people have compared playing the stock market to horseracing, which would suggest that being a winner calls for either praying hard and often or studying the stock tables closely. Marek Fludzinski, founder and CEO of Thales Fund Management, said a better idea is to study physics.

MIAMI - Asset managers have been looking to complex trading strategies such as 130/30 funds to create additional alpha, but experts stress that investors should be careful to fully understand these products, and use them carefully.

Some of the municipal bond market's biggest insurers are making significant changes in leadership and structure in efforts to address their current problems stemming from exposure to subprime mortgage-backed securities.

Franklin Resources of San Mateo, Calif., has agreed to acquire a 49% majority stake in Vietcombank Fund Management, the Hanoi, Vietnam-based private equity investment division of Vietcombank. Franklin, parent of Franklin Templeton, currently manages more than $605 billion.

MIAMI-Gary Palmer, chief executive of the Irish Funds Association, led a panel discussion at the National Investment Company Services Association's 26th Annual Conference & Expo here earlier this week, questioning the viability of small asset managers.