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November 23, 2009

 Past Issues

Mutual Funds

Week In Review

47% of Asset Managers Expect to Expand Product Management Staff Asset managers evidently are optimistic about renewed growth in assets under management, with 47% saying they plan to expand their full-time product management staff over the next 12 months, FUSE Research Network found in surveys conducted over the past two months. However, since 80% laid off staff over the past year, employment levels are not likely to return to pre-crisis levels anytime soon.

Invesco, Eaton Vance Offer Build America Bond Funds

Invesco and Eaton Vance last week launched an exchange-traded fund and an actively managed bond fund, respectively, designed to track the performance of taxable Build America Bonds-a potentially transformative product that has helped galvanize public finance in 2009. Invesco's PowerShares Build America Bond ETF kicked off trading on the NYSE Arca exchange. Like any ETF, this one seeks to mimic the performance of an index, in this case the Merrill Lynch Build America Bond Index.

Regulation & Compliance

SEC Proposals Increase Dark Pool Transparency

Mutual funds and large institutional investors are being spared from a new Securities and Exchange Commission proposal to reign in the growing use of dark pools to hide trading information, since only trades smaller than $200,000 would be exposed. While industry groups like the Investment Company Institute promote the usefulness and necessity of dark trading for some market participants, regulators at the SEC and other regulators are concerned that too much unregulated and unmonitored activity is occurring.

Performance

Experts Predict Market Growth in Near Future

The U.S. economy is well on its way to recovery, according to most mutual fund CIOs, and just about all the economic charts show key growth criteria improving, barring an unexpected jolt. Most experts seem to agree that unemployment has nearly peaked, inflation fears are far-off, and U.S. large-cap stocks still provide some of the best bargains around.

Executive Moves

Executive Moves

Three Join Wilmington's Wealth Advisory Business D. Jack Sawyer, Jr., Michael A. Mohr and Todd A. Tautfest have joined Wilmington Trust's wealth advisory services business in the Southeast region, all in senior roles and all three hailing from the Atlanta office of The Arden Group.