• Exclusive Online Only Content
• Free Daily Email News Alerts
• Asset Management Blogs

Performance

Muni Managers Stand Pat Ahead of Fed Funds Rise

August 2, 2010 - Managers look to position their portfolios for a low-rate environment.

Global REITs Set for Takeoff

July 26, 2010 - CB Richard Ellis Managing Director Steve Carroll foresees five to seven years of commercial real estate boom time. And - New York is the leading indicator.

Doll, Pace Forecast Economic Recovery

July 19, 2010 - GDP Growth Could Take Shape of a Square Root, Even 'The Wave'

Record 20% Fund Inflows for 2010: Strategic Insight

May 10, 2010 - WASHINGTON -- The $12 trillion mutual fund industry will hit record sales of 20% or greater in 2010, driven by continued demand for bonds, alternative investments and international equities, Strategic Insight projects. "The record flows are remarkable, as they come just a year after the world almost ended," said Director of Research, Executive Vice President Avi Nachmany, at a Strategic Insight presentation ahead of the Investment Company Institute's General Membership Meeting, where 1,400 executives gathered.

Fuss: Interest Rate Policy Will Shape Recovery

May 3, 2010 - BOSTON -- Longtime industry veteran Dan Fuss, the 76-year-old vice chairman and managing director of Loomis, Sayles & Co., knows that the Federal Reserve has to raise interest rates eventually. This could dramatically affect credit spreads, yield curves and other macroeconomic issues. But until such a move takes place, there is no need to get excited.With the advantage of more than 52 years of experience in the financial industry, Fuss sees many similarities to previous recoveries and believes a careful, measured approach can position his firm and shareholders for long-term success. Money Management Executive Senior Editor John Morgan recently sat down with Fuss in his office in downtown Boston to talk about how Loomis Sayles' global outlook and how his firm is preparing for the inevitable shift in interest rates.

Managers Optimistic About Stocks, Uneasy on Bonds

February 22, 2010 - Investment managers around the world are cautiously optimistic about stocks in the coming year but more guarded about bonds, Towers Watson found in a survey of 98 managers with a total of $13.3 trillion of assets under management. They foresee economic growth, albeit modestly. Managers in the West, however, see a delayed recovery or stagnation, while the East ex-Japan is getting ready for a boom.

New 6% Savings Rate To Funnel $800 Billion to Investments Annually

February 15, 2010 - The financial crisis has made a permanent impression on American consumers, who are likely to save 6% or more of their income over the next decade, translating to as much as $800 billion stashed away each year, according to a new study by Allianz Group. Along with this mentality, investors will be looking for guaranteed and safe savings solutions.

Estate Tax Expiration Reveals Opportunities

February 8, 2010 - NEW YORK - Financial experts think 2010 could provide many interesting opportunities in the realm of wealth transference, particularly with the temporary, one-year expiration of the federal estate tax and reduction of the gift tax.Thanks to the expiration of the estate tax on Jan. 1, beneficiaries of people who die this year don't have to pay federal taxes on inherited estates. Unless Congress takes action this year, the tax will be reinstated in 2011 to 2001 levels of a $1 million exemption and 55% tax rate above that. President Barack Obama has proposed reinstating the tax at 2009 levels of 45% on anything above $3.5 million, possibly retroactively.

Extreme Makeover: 401(k) Edition

February 8, 2010 - Investors are about to test drive 401(k) plans with a 21st Century whole new look and feel.The Department of Labor is promising streamlined rules for 401(k) advice that plan sponsors may actually use (see "Week in Review," page 4). The government is looking into the possibility of offering annuities or other lifetime income options in defined contribution plans.

403(b) Group Seeks Common Language

February 8, 2010 - An industry group developing best practices for 403(b) retirement plans is coming closer to streamlining these plans to make them even more similar to 401(k) plans, but first they will have to get everyone to agree to speak the same language.Leaders say the SPARK Institute's work on 403(b) best practices is coming along smoothly, thanks to the cooperative efforts of approximately 50 participating institutions. The latest update, version 1.04, fixes many of these communication issues by requiring a standardized reporting format, which it hopes most institutions will adopt by this July.

SEC Tightens Money Fund Rules

January 29, 2010 - The Securities and Exchange Commission last Wednesday adopted several amendments to Rule 2a-7 governing money market funds that aim to reduce risks by increasing credit quality, improving liquidity, shortening maturity limits and requiring the disclosure of a fund’s “shadow” net asset value.The Commission fell short of requiring a floating NAV, but said it may still consider such a move in the future, as well as eliminating the disclosure delay on holdings and the use of credit ratings agencies.

Putnam Calculator Directs 401(k) Investors to Retirement Income

February 1, 2010 - NEW YORK -- Online retirement calculators are usually so confusing or overwhelming that the average plan participant logs in, checks their account balance and then logs off without making any changes. Putnam Investments has developed a new retirement income twist it hopes will resonate with investors, plan sponsors and financial advisers. "Complexity leads to inactivity," said Edmund Murphy, managing director and head of defined contribution at Putnam, at a presentation at the Four Seasons Hotel last week. "Participants find it hard to see how their balance turns into retirement income. They are told they need to save millions, and they just give up and turn off instead."

New Financial Regulations to Create Unprecedented 'Sea Change' at SEC

January 25, 2010 - BOSTON -- Mutual fund companies must stay on top of their compliance programs, particularly because Congress is likely to pass new financial regulations, executives warn. "Regulation writing is about resolving tensions and balancing purposes,' said Michael Novey, associate tax legislative counsel at the Office of Tax Policy at the Department of Treasury. "Our task is to implement legislative purpose, recognizing that Congress' acts ought to be workable. There is a tremendous amount of misunderstanding about many of the proposed regulations."

Funds Still Out of Touch With Adviser Needs

January 25, 2010 - BOSTON -- After all these years, mutual fund companies still don't understand their distribution partners, sales executives say. But before fund executives try to improve on their current models, they need to realize that distribution channels are changing yet again as investment advisers seek lower-cost, laser-focused solutions. Most investment advisers who choose to register with the Securities and Exchange Commission have been managing assets for at least eight years, said Matthew Bienfang, senior research director of securities and investments at TowerGroup.

BNY Mellon Aims to Curb Costs, Expand Wealth Unit

January 25, 2010 - As it waits for the fee income that will come once interest rates rise, Bank of New York Mellon will continue to try and control costs and focus on expanding its asset management and asset servicing businesses overseas, the firm said during an earnings call last Wednesday. Robert Kelly, BNY Mellon's chief executive, said the firm will cut expenses by $100 million, or 4.3%, this year. "There are a lot of opportunities to drive efficiencies in our businesses," he said. "Executives will re-engineer operations to make us more efficient."