Money Management Executive Latest News

Nearly half of those Americans who have retired are helping other members of their family, either by giving them money or managing their finances directly, according to the fourth Real Life Retirement quarterly survey from Charles Schwab.

The Investment Company Institute reiterated its opposition to a floating net asset value for money market funds, saying that the Securities and Exchange Commission’s proposals to strengthen the quality of credit and cash reserves in portfolios should adequately protect the funds from a crisis similar to what happened a year ago.

With Sept. 15 marking the one-year anniversary of the collapse of Lehman Brothers and the shocking revelation of Reserve Funds’ $785 million exposure to the debt, fund executives are taking a retrospective look at the historical run on money funds.

John Hancock Funds has launched the John Hancock Technical Opportunities Fund, which will use an unconstrained, bottom-up technical approach to rigorously select stocks. Additionally, the fund manager will have license to put 100% of the fund’s assets in cash.

Broadridge and NewRiver have partnered on summary prospectuses to offer clients a complete solution, with Broadridge offering print-on-demand and New River a database of digital mutual fund prospectuses and reports.

Due to a normal rate of redemptions in the Hartford MidCap Value Fund, The Hartford Mutual Funds is reopening the $476 million fund, which had been closed since 2004.

Rydex/SGI has unveiled getalts.com, a website to educate individual investors and advisers alike about the diversification benefits of alternative investments.

Morningstar is offering advisers in-depth research reports for 20 of the largest target-date mutual fund series, based on five components making up the “five P’s”: People, Parent, Performance, Portfolio and Price. A pared-down version is also available to individual investors.

President Obama outlined a series of initiatives the federal government would take to help people boost their retirement savings.

Hedge funds returned 1.85% in August, beating only the Nasdaq’s 1.54% returns. The Dow rose 3.54% in the month, followed by the S&P 500’s 3.36% increase, according to Hennessee Group.