Money Management Executive Latest News

The Depository Trust & Clearing Corp. has named Bridget E. O’Connor managing director and chief technology officer.

Selling Van Kampen at a time when most asset managers are still bruised from the market downturn is not a wise idea for Morgan Stanley, analysts tell The Wall Street Journal. Assets have fallen 32% to $86 billion in the 12 months ended June 30.

To improve retention and attract younger customers, MetLife Inc. has introduced an online platform to offer financial advice to investors who make a minimum investment of $10,000.

While growth funds have the potential to deliver stellar returns, their performance has been uneven over the past 10 years, in which they declined 32%, USA Today reports. By comparison, large-cap value funds have lost only 1%.

By touting its longstanding stability and trusted brand name and gently nudging investors to reassess their risk tolerance last year, Fidelity Investments succeeded in steering investors to its money market funds—and gaining critical market share, The Boston Globe reports.

Third Avenue Management has launched its first debt fund, which will invest across the credit spectrum, including distressed securities or debt in default or whose issuer is bankrupt. Called the Third Avenue Focused Credit Fund, it will concentrate on value investing and be run by Jeffrey Gary.

Three hundred and ninety six funds have been merged or liquidated for far this year, well on track to top the 438 funds that were erased in 2008, Morningstar reports.

Donald Yacktman became something of an urban legend 10 years ago when the independent directors of the Yacktman Fund tried to oust him due to their dissatisfaction with his aversion to Internet and technology stocks—and the fund’s 16% decline in 1998 and 1999.

After falling nine percentage points in July, the Rydex Advisor Confidence Index regained that territory in August to end at 104.5, where it had stood in June, according to Rydex/SGI AdvisorBenchmarking.

The Dow’s resurgence this year has convinced many wealthy investors to reinvest their money in equities, but those rich households are still expressing some trepidation about the market’s health.