Money Management Executive Latest News

Crispin Odey, a U.K. hedge fund manager who made a spot-on call last year by shorting banks, believes that financials are now showing some real strength, which could signal pronounced improvement, The Wall Street Journal reports.

Adam Bold, founder of The Mutual Fund Store, is urging investors to stick with their retirement goals and says that if investors choose the right mix of mutual funds, they should be able to have a happy, secure and long retirement, Bloomberg reports.

New York Life Insurance has hired 100 staff to support sales of fixed annuities through the banks, on the heels of sales in this channel increasing 130% in 2008.

Small business owners view having a solid retirement plan as critical, both personally and for employees, according to an survey of 1,000 people by SunTrust Bank. Nonetheless, nearly 40% do not offer one.

Reserve Management has returned $45.8 billion, or 89% of the assets in the now-defunct Primary Fund, but is holding onto $3.5 billion to defend itself against more than 30 lawsuits.

The current rise in the markets is not a bear market rally, but actually a turn for the better, according to Fidelity U.K. portfolio manager Anthony Bolton, Reuters reports.

Optimism is returning to the markets, with 26% of fund managers surveyed by Merrill Lynch believing that the global economy will improve within the next 12 months. In January, that measure was net negative 24%.

Direxion Funds has launched four three-times leveraged exchange-traded funds, expanding its existing lineup of 16 multi-directional, leveraged funds to 20.

Although the underlying credit card and auto debt assets in the TALF funds are leveraged as much as 20:1, mutual fund companies anxious to invest in them are telling the Securities and Exchange Commission that they are structured as safe, non-recourse loans, the New York Daily News reports.

The Eighth U.S. Circuit Court of Appeals has just ruled in favor of investors in a case against Ameriprise Financial over the fees of 11 of its RiverSource mutual funds. Coming on the heels of a similar case against Harris Associates that the Supreme Court will hear this fall, it could signal a new era in favor of investors.