Although Fidelity Investments and Janus Capital Group Inc. recently designated multiple managers for specific portfolios, neither firm is abandoning their individual-portfolio-manager system.
It used to be that when Bill Miller, the vaunted value manager at Legg Mason Inc. of Baltimore, gave his view of the market, it would be hard to find folks who would disagree with him.
As more products that aim to deliver regular payouts in retirement hit the market, many advisers are taking a wait-and-see approach before recommending them to their clients.
The subprime-mortgage meltdown, which has triggered a larger meltdown throughout the credit markets, is the latest example of grand-scale faulty logic and short-term thinking.
Many mutual fund trustees would like to repeal the Securities and Exchange Commission's 12(b)-1 regulation that allows mutual funds to use fund assets to pay for marketing, a Washington lawyer who represents mutual funds reports.
The House passed a one-year reprieve from the alternative minumum tax for an estimated 23 million taxpayers.
German insurer Allianz SE, saw third-quarter net profits soar 21%, reaching 1.92 billion euros ($2.81 billion).
An increase in exports helped push the U.S. trade deficit for September down to $56.5 billion.
The IRS could miss its early season filing peak if Congress waits until December to complete its tax bill.
Morgan Stanley CEO John J. Mack has identified Zoe Cruz, a co-president, as the leading candidate to succeed him.
