Money Management Executive Latest News

The Securities and Exchange Commission met Wednesday to discuss various changes to money market funds to safeguard them from another “run on the bank” like what happened last September with the Primary Fund.

As the asset management industry will inevitably face more regulations, costs will increase and competition will intensify, giving the largest companies an advantage that will increase their market share. Those were some of the views of 225 asset managers from 30 countries that Create Research surveyed. The study was commissioned by Citi’s global transaction services group and Principal Global Investors.

The board of trustees for the Fidelity Charitable Gift Fund has voted to lower the minimum asset requirement for its Charitable Investment Advisor Program (CIAP) to $250,000 from $1 million.

With births declining and medical advances extending life spans, the population of people age 65 and older in the U.S. will rise from 13% today to 20% by 2030 and 26% by 2050, the Census Bureau announced Tuesday.

Van Eck Global has launched the Van Eck Multi-Manager Alternatives Fund, a mutual fund designed to give investors exposure to a variety of investment strategies, including absolute-return and hedge style strategies.

The Financial Industry Regulatory Authority is asking brokers and registered investment advisers to provide it with information on the sale of leveraged and inverse exchange-traded funds between Oct. 1, 2008 and March 30 to investors who held them for 10 business days or longer. The authority is looking for all sales and marketing materials, customer communications and complaints, arbitration claims and written supervisory procedures regarding the sale of such funds.

Sustainable Asset Management has launched the SAM Sustainable Global Active Fund, an all-cap international equity fund that relies on SAM’s research methodology that takes economic, social and environmental factors into consideration.

Russell Investments has launched the Russell Frontier Markets Equity Fund, which will invest primarily in emerging markets at the forefront of development. However, the fund also has the license to invest some money in companies stationed in more developed nations but that have a significant proportion of operations in frontier markets.

A new website launched by a financial journalist turned investor advocate slams the mutual fund industry in an 11-part series for charging investors too much through revenue-sharing agreements and 12b-1 fees.

Financial planners’ high-net-worth clients are asking for guidance on investing and spending, as they reassess their holdings following the devastation of 2008, the American Institute of Certified Public Accountants found in a survey.