Deals & People March 8, 2013

Munder Capital Names Fixed-Income Manager

Jim Kourkoulakos was named a senior portfolio manager for fixed income at Munder Capital Management.
Reported by

Kourkoulakos, whose duties will include managing bond portfolios across the full range of the ratings spectrum, will report to Ed Goard, Munder’s chief investment officer of fixed income.  “In addition to developing and implementing our high yield processes, he also will develop products for clients seeking more aggressive risk strategies and returns,” said Goard.

Previously, Kourkoulakos was a manager and co-head of credit research at California Public Employees’ Retirement Service (CalPERS), where he co-managed an $8 billion investment grade bond portfolio and managed a $1 billion high-yield bond portfolio. He also developed the high-yield investment and credit research process that strengthened CalPERS’ credit analysis capabilities and enabled the pension system to internally manage its high-yield fixed income portfolio.

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Kourkoulakos has held several senior fixed-income investment management positions with Oppenheimer Funds, including senior portfolio manager and head of high-yield research, leading a team of senior credit professionals managing $7 billion in global high yield securities.

He holds a bachelor’s degree in electrical engineering and a master’s degree in computer science from Polytechnic University, and a master’s of business administration in finance and accounting from New York University’s Stern School of Business. He is a Stern Scholar and a CFA charterholder.

Munder Capital Management is a money management firm serving institutional investors.

Data & Research March 7, 2013

No Backslide in Retirement Preparedness in 2012

There was no decline in retirement preparedness among employees in 2012 despite a decline in overall financial wellness, according to data from Financial Finesse.
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Sixty-eight percent of employees reported having a handle on cash flow—compared to 72% in 2011 and 64% in 2010—and a greater percentage of employees reported having borrowed funds or taken a hardship withdrawal from their retirement plans in 2012—32% versus 25% in 2011.However, 91% reported participating in their retirement plans, and 83% are saving at least up to the match.    

Financial Finesse believes the stability of retirement preparedness measures is largely due to increased focus on retirement education by plan sponsors, coupled with strong market performance.  

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Seventeen percent of employees reported they know they are on target to replace at least 80% of their income in retirement. One-third are confident their investments are allocated properly.

(Cont’d…)

The percentage of questions received by Financial Finesse’s team of planners related to taxes doubled in 2012, but retirement planning held the top spot at 31%, the same as for 2011.Interest in cash and debt management fell, as did interest in investing.  

Employee financial stress continued its downward progression, with only 18% of employees indicating “high” or “overwhelming” levels of stress in 2012, compared to 19% in 2011, 32% in 2010, and 33% in 2009.Sixty-four percent reported “some financial stress.”  

Both the decline in financial wellness and the increase in the percentage of employees that reported having taken a retirement plan loan or hardship withdrawal were most pronounced among lower-income employees, women, and Generation X.  

Financial Finesse’s 2012 Research Year in Review can be downloaded from here.

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