MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Thursday, August 22, 2013 State Street's Hooley Worries Over Bond Investors Joseph Hooley, chief executive officer of State Street [profile] is worried sick over retail investors. “I worry more about the retail investor,” Hooley said during an interview on Bloomberg Radio's "Taking Stock." “The retail investors are going to find themselves on the wrong side of the equation.” Bloomberg's Christopher Condon writes that Hooley expressed said concern in an interview on Bloomberg Radio's "Taking Stock" with Pimm Fox, where he said he worries that retail investors are over-allocated in bonds as interest rates rise. Surely someone has been listening to the bond fund fear and loathing, as U.S. registered bond mutual and ETFs may have their worst year of redemptions in almost a decade, as Condon points out. Investors have withdrawn $30 billion this month through August 19 and bond funds saw $4 billion in redemptions this year so far. Hooley's business has been faring well as State Street's second quarter profit rose 16 percent, riding the health of some global equity markets, Condon writes. In Hooley's radio interview he mentioned that the company is shifting to more growth assets like ETFs, Condon reports. To read more, click here. Printed from: MFWire.com/story.asp?s=45670 Copyright 2013, InvestmentWires, Inc. All Rights Reserved |