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Four Easy Ways to Jump-Start Your Ailing 401(k)

401K

(By Christine Benz, Morningstar)- Remember the late, great 1990s, when keeping watch over your 401(k) was actually fun? Never mind that the market, and technology stocks in particular, were ridiculously overvalued. For a brief, shining moment, even lousy funds and poor 401(k) plans were posting mind-boggling gains guaranteed to bring a smile to your face.

A three-year bear market that ended in early 2003, followed by 2008, the worst bear market since the Great Depression, has sobered most people up. Greed has turned to fear. Retirees have had to go back to work and pre-retirees are coming to grips with the notion that the traditional retirement age of 65 is a relic of a bygone era.

In talking to individuals in their 30s, 40s, and 50s, I'm hearing a lot of statements like, "I know I have time, so I'm not worried." and, "I'm just not looking at my statements." That's generally encouraging. After all, being able to tune out the noise is one of the keys to successful investing. And we're so far into this bear market that one of the worst things those with long time horizons can do is to panic and shift everything into cash. Not only would you miss the rebound in stocks, but you'd also be left wondering when is the right time to get back in.

It's possible to strike a balance between checking your 401(k) account every morning (and tempting yourself to make inopportunely timed changes) and complete and utter portfolio neglect. The following steps should get you on your way. Read More

Showing posts with label Aabar Investments. Show all posts
Showing posts with label Aabar Investments. Show all posts
2:29 AM 0 comments

Abu Dhabi-Based Aabar Acquires AIG Private Bank For $254 Million

New York, NY - Abu Dhabi-based investment company Aabar Investments PJSC (Aabar) announced on Monday that it has acquired AIG Private Bank Ltd., a whole owned subsidiary of New York-based American International Group Inc. (AIG).

“We have looked very thoroughly at AIG Private Bank and are impressed by the professionalism and dedication of the management team and staff," H. E. Khadem Al Qubaisi, chairman of Aabar and future designated chairman of the bank, said in a statment on Monday.

"This transaction represents a great opportunity to leverage AIG Private Bank’s expertise in wealth management and to further develop it in our region. AIG Private Bank provides us with a platform with the potential for significant long-term growth and value creation."

The investment bank said AIG Private Bank will be acquired for 307 million Swiss francs ($254 million), subject to a post closing price adjustment based on the net asset value and assets under management of the bank at closing.

In addition, Aabar will assume certain loans outstanding at closing of the transaction up to an aggregate maximum of 100 million Swiss francs ($83 million), the global investment bank said.

This sends a clear message to our customers that we will continue to be a trustworthy, reliable and competent partner for them”, said Eduardo Leemann, CEO of AIG Private Bank. “It also offers us new opportunities to expand our operations, especially in the Middle East”, Leemann added.

Leemann and his senior management team will remain with the bank, which will become an independent financial institution with headquartered in Switzerland as well as subsidiaries and representative offices in Hong Kong, Shanghai, Singapore and Dubai.

Click Here For Press Release (*PDF File*).

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