Money Management Executive Latest News

Hunter Named President, CEO of Westrock Group

Actively Managed Funds Up 15.82%, Beating S&P by Five Percentage Points

DST Systems, Inc. this year celebrates 40 years of providing market-leading solutions to the mutual fund industry. In recognition of this milestone, Money Management Executive asked DST's senior leadership to identify ways investment management companies can maximize the value they deliver to their stakeholders by leveraging the strengths and resources of a service provider.

While most asset managers have survived the global financial crisis, they still face many uncertainties: internal cost pressures, changes in products, heightened investor demands, headcount reductions, fund closures and tighter regulatory scrutiny.

Employers are paying closer attention to the offerings in their 401(k) plans, with an eye toward helping workers better prepare for retirement, according to a report from Deloitte Consulting, the International Foundation of Employee Benefit Plans and the International Society of Certified Employee Benefit Specialists.

With a little cooperation, 403(b) retirement plans for educational and governmental workers can move even closer to resembling their 401(k) counterparts, become more streamlined and boost participation, but first, industry participants will need to agree on best practices for the plans that will help everyone speak the same language.

The commissioners and staff at the Securities and Exchange Commission have been working around the clock, looking for ways to refine and improve regulations in the aftermath of one of the worst recessions in history, but this important work takes a delicate touch. Changes to one area could have unexpected ramifications to other areas, and every move must be planned with care and consideration.

Seventy-three percent of Baby Boomers who own a traditional IRA are not planning to convert it to a Roth IRA in 2010, when the previous household income limit of $100,000 will be eliminated, USAA Wealth Management found in a survey. Any investor who converts in 2010 will have two years to pay the taxes.

Hedge funds delivered an average of 2.5% in July and are up 9.9% year-to-date, the best performance in 11 years, according to the Credit Suisse/Tremont Hedge Fund Index.

Vanguard is limiting new purchases and not accepting new accounts for the Primecap Core Fund and two related funds, Primecap and Capital Opportunity.