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Up until this month, analysts at Morningstar have noticed a divergence between individual investors, who have been gung ho for bonds, and money managers, who have mostly been bullish on equities—and bearish on bonds.

This time of year, Charles Zhang, an independent advisor with Zhang Financial, is typically bombarded with holiday gifts from mutual fund wholesalers. But that’s not the case this season. According to Zhang, the Christmas gifts as well as...

In the aftermath of the financial crisis, asset managers have been busy rolling out new alternative products specifically designed for non-accredited investors. According to Morningstar data, there were 29 distinct alternative strategy mutual...