Data & Research July 1, 2010

Informa Research Services Releases 2010 U.S. Consumer Wealth Study

Informa Research Services has released a report that examines U.S. household asset allocation and preferences.
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The study shows which financial institutions are preferred and which types of investment and deposit products hold the majority of the wealth. 

In an environment where financial institutions are scrambling for deposits, the mass affluent sector seems to be severely ignored, according to the study findings. Results revealed that in a potential pool of more than $5.3 trillion in retirement savings held outside of retirement plans, banks only hold about $1.6 trillion and are at risk of losing even those deposits. 

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“The survey results showed that only 10% of the mass affluent consumers view their bank as a viable solution for retirement investing,” said Chad Watkins, manager of market intelligence at Informa Research Services. “Unless financial institutions change this consumer perception, they are at risk of losing these deposits to brokerage and insurance companies.” 

The study is based on a national survey of nearly 1,000 respondents conducted in April 2010 via an online panel of U.S. households. Forty-six questions were posed. Participants were at least 25 years of age and report at least $100K in investable assets (excluding assets invested in structured retirement plans). 

For more information, contact Chad Watkins at 800-848-0218 Ext. 48407 or go to www.informars.com. 

Products July 1, 2010

Fidelity Remakes Environmental Fund

 
Fidelity Investments has announced it has restructured its 20‐year‐old Select Environmental Portfolio to increase exposure to faster growing industries, such as alternative energy and energy efficiency, while reducing exposure to slower growth industries, such as waste management. 
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A Fidelity news release said that as a result, the fund likely will have a broader investment universe and a higher allocation to foreign markets due to the global nature of the alternative and renewable energy industries. 

  

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With these changes, Fidelity has renamed the fund, “Fidelity Select Environment and Alternative Energy Portfolio,” to better reflect its new investment policies and focus, the company said. 

  

“In recent years, there has been substantial progress within the environment and alternative energy industries,” said Brian B. Hogan, president, Equity Group. “The rapid pace of technological advancements, the increased social and political focus on environmental protection, as well as the growing demand for energy and other natural resources from industrializing economies has led to increased investment interest in the sector as well as a broader investment universe in these areas. We 

believe those developments present exciting opportunities for Select Environment and Alternative Energy Portfolio and its shareholders.” 

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